Comcast challenges Murdoch with RM120 billion bid for Sky

Walt Disney Co (DIS) Could Find Itself In Bidding War For Fox
Comcast seeks to outfox Murdoch with higher bid for Sky
Author

02 March, 2018

At that time, Comcast's stock was down more than 5 percent in early USA trading, while Walt Disney's stock was down 2.8 percent.

In an effort to get its offer over the line, Fox earlier this month vowed to preserve the editorial independence of Sky News. Roberts started off by explaining how the premium price tag makes the offer superior along with less regulatory hassle. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.

Unlike the offer from 21st Century Fox, Comcast does not predict any issues with media plurality. Then when we to the Sky store, we spent at least an hour going through every feature and comparing it to our own.

The offer also has Roberts against Bob Iger at Disney, who is a longtime rival following Comcast's bid to acquire Disney in 2004 at a price of $54 billion.

Comcast and Disney are vying to purchase European broadcaster Sky.

"This is a great asset, and it has been for several decades", he added during a morning conference call with USA investors. "It has all the assets to compete with the web giants".

The CMA is due to give its final report on the Fox-Sky merger in May, and Fox said in January that it hoped to have cleared regulatory approval by the end of June. He concluded: "We would become a unique leader in entertainment and technology".

Comcast, which owns the Downton Abbey brand, is the biggest United States cable TV firm.

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He said: "We think that Sky would be very valuable to us as we look to expand our presence internationally". "And the prospect of us two working together...is a very exciting thought for me", he added.

"I believe there are many opportunities on the English-speaking content side to work together", said Roberts.

The younger Roberts became Comcast's president in 1990 and CEO in 2002, having spent his whole career at the company. First of all, Dish doesn't own any content. "Disney is still a fabulous story, with or without the British satellite TV business and its ancillary distribution in Europe".

In December previous year, Walt Disney agreed to buy the bulk of 21st Century Fox's business, including its 39% Sky stake.

The proposed offer pits Comcast against Murdoch, the 86-year-old media tycoon who helped launch Sky in Britain, and also against Walt Disney Inc, which has agreed to buy a string of assets from Fox once the deal is done, including Sky.

Hedge fund manager Crispin Odey labelled Comcast's offer "fantastic" and said a counter bid was now likely.

Part of what makes Sky attractive to US companies wishing to expand in Europe is that it is an established brand across several countries in the region, where people are often used to paying monthly fees for pay TV.

That complicated another separate deal of $52 billion by Disney to acquire assets of Fox that include Sky. But it bowed out, saying it never got a full chance in the process.


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