Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 25, 2018 11:04:30 GMT
Comcast, America’s largest cable company, has made a formal £12.50 a share cash offer for Sky that values it at £22bn. Rupert Murdoch's 21st Century Fox had offered £10.75 a share and had separately agreed to sell its entertainment assets — including Sky — to Walt Disney at a profit. Sky has apparently said that it welcomed the news from Comcast and was withdrawing its recommendation for Fox’s bid.Comcast launches rival £22bn Sky takeover bid |
|
|
|
Post by Miranda on Apr 25, 2018 11:15:41 GMT
I'm confused. When did Murdoch stop owning Sky?
|
|
|
|
Post by Miranda on Apr 25, 2018 11:19:52 GMT
So.. I read the article. Murdoch (spit!) owns 39% of Sky already and owns the Fox empire which he will sell to Disney if he buys control of Sky. Do I have that right?
It's all very confusing.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 25, 2018 11:24:34 GMT
Yes (to both points). the problem Murdoch has now is that to get ownership, he will have to increase his bid for Sky by quite a bit.
|
|
|
|
Post by Miranda on Apr 25, 2018 11:56:12 GMT
Hmm... seems odd he would give up Fox though. Maybe he's bored?
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 25, 2018 12:01:27 GMT
The Disney deal seems to exclude the Fox Broadcasting Company, 20th Century Fox's studio lot, Fox Television Stations, Fox News, the Fox Business Network, and Fox Sports, which would be spun off into a new, independent company run by the Murdoch family.That couldn't happen so easily if Comcast get Sky.
|
|
|
|
Post by Miranda on Apr 25, 2018 12:47:07 GMT
Oh right, I had the impression that they were part of the deal.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 25, 2018 13:00:15 GMT
If Disney got everything, then the deal probably wouldn't be allowed in America, there are a lot of concerns about how powerful Disney would become. Comcast are just after Sky, so such concerns are much less likely.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jun 5, 2018 13:57:47 GMT
Here is the latest news: The UK government will let 21st Century Fox take over Sky if it sells Sky News. Culture Secretary Matt Hancock has referred Fox's bid for a further consultation but, at the same time he has also cleared Comcast's rival bid to take over Sky. In other words, the way has been paved for a bidding war worth billions of dollars between Comcast and Fox to complete a takeover of Sky. Government clears way for Fox's Sky bid |
|
Anymore to come?
