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Comcast bid for Sky could upend Disney-21st Century Fox deal

Comcast bid for Sky could upend Disney-21st Century Fox deal

It has two primary businesses: Comcast Cable and NBCUniversal. It also owns the broadcast TV network NBC and Universal Pictures.

The announcement - and the prospect of a bidding war - sent Sky's share price soaring almost 21 percent on the London Stock Exchange.

Sky shares surged 18 per cent following the announcement of the rival bid this morning. But U.K. regulator have feared what he would do with that media concentration, especially because his media companies and newspapers have been plagued by scandals. "Sky is a very attractive business".

Sky's independent shareholders have yet to react to the deal, which would create a "unique leader in entertainment and technology with the resources and capabilities to compete, grow and thrive in a rapidly changing world", Roberts said.

He added that Comcast would commit to keeping Sky News as a going concern.

Sky is a leader in pay-TV services in the United Kingdom, and other key regional markets including Germany and Italy. It snapped up Murdoch's pay-TV groups across Europe in 2014 to offer a distribution platform that is now proving attractive to the big US content owners.

The Liberum analysts said the lower price for the Premier League TV rights contract has taken out the risks of price inflation. However, since the bid for Sky was launched, 21st Century Fox has agreed to sell many of its assets, including Sky, to Disney.

However, while some expected Disney's proposed Fox takeover to ease the British regulators' concerns over the Fox-Sky purchase putting too much power in the Murdoch clan's hands, the CMA in January provisionally rejected the Fox-Sky merger.

Elvis Presley's daughter claims she has just $14000 left from father's fortune
She filed a lawsuit this week accusing him of "reckless and negligent mismanagement and self-serving ambition". In the mid-2000s, that seemed like a very solid investment, but Core Entertainment went bankrupt in 2016.


Fox responded by pledging to strengthen the independence of Sky News ahead of the Competition and Markets Authority's final report, which must be submitted by 1 May.

When Comcast boss Brian Roberts was weighing up a $31 billion offer for British broadcaster Sky, a trip to see Sky's products in store, and the knowledge of the London cab driver that took him there, helped to make up his mind.

The battle for Sky is further complicated by Disney's $52 billion bid for Fox assets, including Sky.

Comcast Corp. wants to go European and it won't let media baron Rupert Murdoch stand in its way.

On the good side though, analyst Craig Moffett wrote that the deal will boost distribution of NBCU in Europe and the nature of the all-cash transaction would boost Comcast's leverage to 3.0x EBITDA pro forma.

If Disney refused, then Fox would have to find the money itself, "which means it is then looking at a loss if Disney did end up acquiring 100% of Sky".

Roberts also said Comcast was prepared to co-own Sky with Disney if they Comcast had the majority stake, though Comcast prefers to own the broadcaster outright. How the $183 billion group's own shareholders will benefit is unclear: Comcast's offer contains lots of detail about supporting creative industries and young people in Britain, but little about financial returns.


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