Published: Thu, July 12, 2018
Markets | By Noel Gibbs

Fox prepping $33B bid for Sky to fight off Comcast

Fox prepping $33B bid for Sky to fight off Comcast

That is how Sky shareholders feel as Murdoch controlled 21st Century Fox raised the bidding once again for Sky, eclipsing United States cable network Comcast's £12.50 bid with an all cash offer of £14.

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.

Sky's shares have risen 95 percent since Fox made its first bid in 2016, and have risen 55 percent in the previous year.

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And Zlatko Dalic's side seem relaxed ahead of the crunch match. "I have been in sport in different areas for long enough to know what my life is day to day".


The battle for Britain's leading pay-TV group reflects major shifts in the global entertainment industry as the world's biggest media giants battle one another for multibillion-dollar deals to be able to compete with Netflix and Amazon.

"They're way behind the curve still", said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky.

Murdoch's Fox said the performance of Sky since December 2016, including its renewal of the right to show English Premier League matches at a lower price than expected, justified its higher offer.

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Look at the fans there tonight, there was a lump in the throat and the hairs on my neck stood up watching the fans at the end. He will just be hoping that all of them are fit enough for one last effort against a fearsome French side.


Comcast has said that Sky is very important because it could take the USA -bound cable and internet giant into global markets.

Comcast tabled a proposal of £12.50 per share for Sky in February, and Sky's stock has traded consistently above the Comcast offer as investors anticipated Fox or Disney would come back with more.

Fox said early Wednesday morning, "As the founding shareholder of Sky, we have remained deeply committed to bringing these two organizations together to create a world-class business positioned to deliver the very best entertainment experiences well into the future". News Corp., which is controlled by the Murdochs, withdrew its bid for Sky soon after.

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Beckham and Sir Geoff Hurst, though, defended Sterling's displays after the quarter-final win against Sweden. And this could benefit England if Sterling makes the most of the space presented to him.


Comcast subsequently made a rival offer of $66bn in cash for those assets - prompting Disney to sweeten its terms last month to $85bn, including debt, in cash and shares. Comcast is said to be ready to negotiate with the feds on the number of Fox RSN's it would have to divest as some of them may overlap with Comcast's NBC Sports regional networks. The media mogul's previous effort to buy out the rest of Sky foundered amid Britain's 2011 phone-hacking scandal, which hardened opposition to Murdoch's influence over the United Kingdom media landscape.

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