21st Century Fox Inc. agreed to acquire Sky Plc for 11.7 billion pounds ($14.6 billion), in Rupert Murdoch’s second run at Europe’s dominant pay-TV company, as the media billionaire seeks to consolidate his television empire across two continents.

Fox, which already holds a 39 percent stake in London-based Sky, will pay 10.75 pounds a share for the rest, according to a statement. That represents a premium of 36 percent over Sky’s closing price on Dec. 8, the day before the companies disclosed a preliminary offer. Murdoch is returning after a previous bid was thwarted in 2011 over a phone-hacking scandal at his newspapers.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.