Saturday, 22 September, 2018

Comcast is expected to raise its offer for Sky

Comcast crashes Murdoch's Sky bid Comcast crashes Murdoch's Sky bid
Elsie Buchanan | 12 July, 2018, 20:39

Media mogul Rupert Murdoch's 21st Century Fox increased Wednesday its bid to take full control of lucrative European pay TV service Sky in a prolonged battle with US rival Comcast.

The Associated Press reported that Fox, which already has a 39 percent stake in Sky, raised its offer to 14 pounds per share ($18.58), more than Comcast's latest offer but not equivalent to the value Sky was trading at on Wednesday.

Earlier in the day, 21st Century Fox said it had a reached a deal to buy Sky that valued it at £24.5 billion, or about $32.5 billion.

Sky is at the centre of a transatlantic takeover tussle between Mr Murdoch's Fox and Comcast, which owns NBC, Universal film studios and E!.

The speed with which Comcast's Brian Roberts returned with a higher offer was created to show how determined he is to buy the group which is present in 23 million homes across Europe. Wright's predecessor had previously indicated the deal could go through if Sky was ultimately sold to a third party, like Disney. The complaint alleges that Fox's prospectus filed to the Securities and Exchange Commission after the company accepted Disney's offer was incomplete.

Or, if Comcast is reluctant to forfeit a stake in Sky, it could drop its bid for the bulk of Fox's entertainment assets, he said.

Last remaining kid, coach evacuated from Thai cave
Four people were then rescued from the caves in the first rescue stage, before being taken straight to hospital. On Sunday, four boys were brought out from the cave after being tethered to rescued divers.


Rupert Murdoch's Fox has been waiting for approval from United Kingdom regulators before putting the deal to shareholders.

'It is now a matter for the Sky shareholders to decide whether to accept 21st Century Fox's bid'.

"This transformative transaction will position Sky so that it can continue to compete within an environment that now includes some of the largest companies in the world", Fox said.

The UK government has cleared a proposed deal for Rupert Murdoch's 21st Century Fox to buy Sky.

Fox said the performance of Sky since 2016 justified its new bid. Both Fox and Disney have scheduled special shareholder meetings for July 27 in NY to approve the cash-and-stock deal to sell $71 billion in Fox assets to Disney.

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