Comcast $US34b tops Fox's offer for Sky

Comcast $US34b tops Fox's offer for Sky

Media mogul Rupert Murdoch's 21st Century Fox increased Wednesday its bid to take full control of lucrative European pay TV service Sky in a prolonged battle with USA rival Comcast.

Multinational mass media corporation 21st Century Fox on Wednesday said it has raised its offer to buy United Kingdom's Sky Plc.

Fox offered £14 per share to value Sky at £24.5 billion ($32 billion), 12% more than Comcast's rival £22 billion offer.

Fox has been attempting to purchase Sky since December 2016, and has increased its offer by more than 30 percent since then, according to the AP.

Comcast on Wednesday increased its cash offer to 14.75 pounds per share.

Janedis laid out four possible scenarios: Comcast outbids Fox for Sky; Fox outbids Comcast and adheres to all conditions; Disney and Fox walk away and sell Comcast the remaining 40% stake in Sky; and Disney wins both Fox and Sky.

Just when you thought Disney had wrapped things up with its huge $71.3 billion bid for 20th Century Fox, The Hollywood Reporter brings word of another speedbump.

Mukesh Ambani announces high-speed broadband, Jio Phone 2 with WhatsApp, FB
At the event, the company also unveiled the Jio Phone 2 , which will be priced at Rs 2,999 and hit the market on August 15. Ending the era of mbps, Jip Gigafiber will bring high-speed internet via FTTH network with seep up to 1gbps.

A successful acquisition of Sky would extend Comcast's reach Europe.

Fox said it had secured the agreement of the independent committee of Sky for the deal.

Another wrench has been thrown in the ongoing saga of the Disney Fox deal.

The U.K. government has already said it's likely to approve Fox's bid for Sky after Fox satisfied concerns over media plurality.

"Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast".

The end of the week is also be the deadline for Comcast to post an offer to Sky shareholders, who then have 60 days to consider that offer under United Kingdom takeover rules. It's also thought that, despite welcoming a new counteroffer from Comcast, Rupert Murdoch is in favor of Disney over Comcast due to antitrust concerns, even after the successful AT&T and Time Warner merger.

"There are enough sub-plots in the race to acquire Sky to commission a primetime drama", Salmon said.

Related Articles

  • Apple says new MacBook Pro keyboard won't fix sticky key issue

    Apple says new MacBook Pro keyboard won't fix sticky key issue

    Editor's note: Apple says the new MacBook Pro keyboard does not address the problems experienced by some owners. One of the smallest components in the new MacBook Pro could well end up being the most important.
    Likely impact of US-China trade war: Prices up, growth down

    Likely impact of US-China trade war: Prices up, growth down

    President Donald Trump on Monday warned the WTO that if the USA isn't treated "properly, we will be doing something". He said: "It is an infernal logic, a unsafe logic, a logic that is in nobody's interest, starting with the U.S".
    Missing 13 found safe in Thai cave but rescue 'not over'

    Missing 13 found safe in Thai cave but rescue 'not over'

    It's been revealed that two British divers, John Volanthen and Rick Stanton , were the first to reach the trapped team. The boys were found late Monday night during a desperate search that drew worldwide help and captivated the nation.
  • Neymar, Kylian Mbappe, Eden Hazard Reportedly Targeted as CR7 Replacements

    Neymar, Kylian Mbappe, Eden Hazard Reportedly Targeted as CR7 Replacements

    However, as the Spanish giants prepare for life under new head coach Julen Lopetegui, Ronaldo felt the time was right to move on. But he still has it in him to take another league by storm, and that is why Juventus have made such a bold move by signing him.
    David Davis warns United Kingdom  giving away too much in Brexit talks

    David Davis warns United Kingdom giving away too much in Brexit talks

    A leadership challenge to her can be sparked if 48 of her lawmakers write to the Conservative's influential 1922 Committee . The EU says it will respond once it has seen the details. "It's a good thing that we have proposals on the table".
    Trump slams anti-breastfeeding claims

    Trump slams anti-breastfeeding claims

    The U.S. stance on the health issue was enough to draw heated reaction from a number of progressive-leaning websites. A Russian delegate told the New York Times that "the final resolution preserved most of the original wording".
  • Google Duplex AI Assistant ready to replace call centers

    Google Duplex AI Assistant ready to replace call centers

    Google in recent weeks invited tech journalists out to restaurants on both coasts to put Duplex through the paces in that setting. We're now focused on consumer use cases for the Duplex technology and we aren't testing Duplex with any enterprise clients.
    World powers seek to keep Iran in nuclear accord after U.S.  pullout

    World powers seek to keep Iran in nuclear accord after U.S. pullout

    Washington has since told countries they must stop buying the OPEC producer's oil from November, 4 or face financial consequences. Iran has been committed to its obligations under the deal, he stressed.
    More Rain Feared As Thai Boys Remain Trapped In Cave HIRES

    More Rain Feared As Thai Boys Remain Trapped In Cave HIRES

    Video posted on the Thai Navy SEAL Facebook page , shows one of the boys asking the rescuers to "go outside". Mr Srisamu said: 'He used his knowledge of the cave to calculate where the group was mostly likely to be.
  • England hailed as heroes after World Cup heartache

    England hailed as heroes after World Cup heartache

    Even a late rendition of God Save the Queen failed to rally the 8,000-strong crowd at Castlefield Bowl at the start of extra time. It said: "The more I see, the more important it is that when 'attacking this tournament" we tell our own story.
    Rescuers free eighth boy from cave in Thailand

    Rescuers free eighth boy from cave in Thailand

    Thai authorities are hustling to draw out water from the flooded cave before more rains are forecast to hit the northern region. The boys became trapped in the cave on 23 June after heavy rains caused flooding, but were found alive last week by divers.
    Thai cave rescue: Four youths saved as rescue efforts continue

    Thai cave rescue: Four youths saved as rescue efforts continue

    Rescuing them all could take three to four days and depended on the weather, an army commander involved in the mission said. One of the boys, identified as Tun, wrote: "Mom and Dad, please don't worry, I am fine".