Comcast’s bid for Sky threatens to scupper Fox’s own bid and Disney’s bid for Fox

by | Feb 27, 2018 | Finance, Seradata News

In a move to expand its European interests while also helpfully disrupting a competitor’s plans, Comcast, the US media conglomerate which owns NBC Universal, has made a bid of £22 billion to buy the UK-based satellite and cable sports, news, and entertainment broadcaster Sky.  The bid tops the £18.5 billion deal which the Rupert Murdoch owned 21st Century Fox (Fox) made to buy the remaining 61% of the firm which Murdoch did not own.

That latter deal had run into regulatory difficulties, mainly over concerns that Murdoch would be in control of so much media given his newspaper interests via News Corp in the UK. Since that deal was announced Disney has since made its own offer for Fox, on the understanding that it would still hold a shareholding in Sky.  If Sky is not part of the deal, the Disney takeover of Fox may unravel.

Sky is currently a leading satellite direct-to-tv broadcaster. Sky controls much of the broadcasting rights to sport in the UK. It also runs the loss making but well renowned Sky News television news service.

 

 

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