FOX Beats Comcast‘s Bid for Sky

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by @todotvnews the 11/07/2018
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This Wednesday, 21st Century FOX made a new offer for the international operator, which values it at 32.5 billion dollars.

The bidding for European operator Sky gained a new chapter this Wednesday with a new and improved offer by 21st Century Fox, with a number that surpasses the one made by Comcast.
 
FOX offered a total of 14 pounds per share for 61% of Sky, which values the company at 32.5 billion dollars. 
 
Comcast had offered 12.5 pounds per share, which put Sky’s value at 31 billion dollars.
 
While the British government is expected to make a decision about the operation, US media is ensuring Comcast, which already got the green light from the regulation, will make a new offer.
 
With satellite operations in Ireland, the UK, Germany, Austria and Italy, an OTT operation in Spain and ambitious plans for the original production ecosystem, Sky is seen by both groups as a key property to compete with better tools against digital giants like Netflix or Amazon.
 
The company also has 52 million subscribers.
 
“As the founding shareholder of Sky, we have remained deeply committed to bringing these two organizations together to create a world-class business positioned to deliver the very best entertainment experiences well into the future,” Fox said in a statement. 
 
“We strongly believe that a combined 21CF and Sky will be a powerful driver for the continued growth and vibrancy of the U.K. and broader global creative industries.”
 
The bidding race FOX and Comast are having for Sky is framed within Disney and Comcast’s fight for FOX, which owns 39% of Sky, a share included in the FOX sale.
 
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