Comcast Makes Offer To Buy Sky, Challenges Murdoch's 21st Century Fox
Feb 27, 2018 Business 3342 By franklyn Anude
US cable TV giant Comcast Corp, has made a bid of $31 billion (Ł22 1bn) to buy sky, challenging an existing offer from Rupert Murdoch's Fox and Bob Iger's Walt Disney Comcast which owns NBC and Universal Pictures, offered 12 50 pounds per share, which was significantly higher than the 10 75 pounds per share agreed by Fox
Britain's Sky, which is available in 23 million homes across Europe, had already agreed to be sold to Murdoch's 21st Century Fox but concerns over the Murdoch family's influence in Britain has delayed the take over Murdoch's 21st Century Fox last week said it would allow Sky News run, with a fully independent board, for at least 10 year, in an effort to make the proposed deal more attractive to regulators
Comcast chief executive Brian Roberts called Sky an outstanding company and said he was sure the offer would be cleared by regulators He added; "Sky and Comcast are a perfect fit: we are both leaders in creating and distributing content,"
Shares in Sky rose to 13 08 pounds (18 percent rise) as investors hopes the ensuing bid battle would push both sides to offer a higher price