21st Century Fox is in advanced talks to buy Sky, a major telecoms player and the biggest pay-TV provider in the UK. Negotiations are underway and the directors of both companies have reached an "agreement" of £10.75 per share. As Bloomberg reports, the deal values Sky at £18.5 billion ($23.2 billion). Fox already owns 39 percent of Sky, and media mogul Rupert Murdoch has tried to buy the remaining slice before. A takeover in 2010 was eventually abandoned, however, after News Corporation (now known as 21st Century Fox) was embroiled in a huge phone hacking scandal.