BSkyB Working To Buy Control Of Sky Deutschland, Sky Italia From Fox: Bloomberg

(RTTNews) - British Sky Broadcasting Group Plc (BSY.L), is working on a deal valued at about 10 billion euros to buy control of Sky Deutschland AG (SKDTF.PK, SKDTY.PK) and Sky Italia from Fox, the Bloomberg reported, citing people with knowledge of the matter. Fox has 55 percent of Sky Deutschland and 100 percent of Sky Italia.

The companies have been in talks for months, and a deal could be announced this summer, although they could still fail to reach an agreement, the report stated.

The report stated that the deal would give BSkyB oversight of companies that sell satellite programming to 8.5 million homes across Germany and Italy.

By shedding the pay-TV units, Fox would be left with cable and broadcast networks plus movie and TV studios, the report stated.