Murdoch's 21st Century Fox ups Sky bid to beat rival Comcast

phys.org | 7/11/2018 | Staff
Click For Photo: https://cf3e497594.site.internapcdn.net/tmpl/v5/img/phys_308px.png

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 U.S. rival Comcast.

Fox raised its bid to 14 pounds ($18.58) a share as it seeks the 61 percent of Sky not already under its control.

Company - Percent - Bid - Comcast - Values

The company says this is 12 percent higher than the last bid from Comcast and values Sky at 24.5 billion pounds ($32.5 billion). Fox has increased its bid by just over 30 percent since its first offer in December 2016.

Shares in Sky Plc were down 0.8 percent at 14.90 pounds, suggesting investors believe Comcast could come back with another improved offer.

Sky - Austria - Germany - Ireland - Italy

Sky operates in Austria, Germany, Ireland and Italy as well as the U.K. It has 22.5 million customers, attracted by offerings such as English Premier League soccer and "Game of Thrones."

Murdoch's company still faces significant regulatory battles in Britain, including the culture secretary's statement that Fox...
(Excerpt) Read more at: phys.org
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!