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    Comcast launches rival £22bn Sky takeover bid

    This is a discussion on Comcast launches rival £22bn Sky takeover bid within the Sky news and announcements forums, part of the SkyUser Announcements category; US broadcasting and cable TV giant enters bidding war with Rupert Murdoch’s 21st Century Fox https://www.theguardian.com/media/20...y-takeover-bid Comcast has gatecrashed Rupert ...

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      Comcast launches rival £22bn Sky takeover bid

      US broadcasting and cable TV giant enters bidding war with Rupert Murdoch’s 21st Century Fox

      https://www.theguardian.com/media/20...y-takeover-bid
      Comcast has gatecrashed Rupert Murdoch’s takeover of Sky with a rival £22bn offer sparking a bidding war for Britain’s biggest pay-TV broadcaster.

      The media and telecoms company, which owns NBC Universal and is the largest cable operator in the US, has made an all-cash offer of £12.50 a share, a 16% premium on the offer from Murdoch’s 21st Century Fox, which values Sky at about £19bn.

      Fox owns 39% of Sky and submitted its bid to take full control in December 2016, but the deal has been held up by regulatory issues.

      Comcast has made its move on Sky after having an offer for 21st Century Fox’s entertainment assets, which include Sky and the Deadpool to the X-Men Hollywood studio 20th Century Fox, spurned by Murdoch last year.

      Murdoch agreed a $66bn (£47bn) sale to US rival Disney but this has been held up, as Fox’s own deal for Sky continues to be scrutinised by the UK competition regulator over issues including media plurality concerns.

      Earlier this month, the UK takeover panel ruled that Disney must make a full takeover bid for Sky even if the competition regulator quashes Murdoch’s attempt to buy 100% of the pay-TV broadcaster.


      More details to follow …
      Sky has posted a response here: https://www.skygroup.sky/corporate/i...rs/rns/2344433


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    3. #2
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      Re: Comcast launches rival £22bn Sky takeover bid

      The significant part of this is;

      "The Independent Committee of Sky welcomes today's announcement by Comcast of its firm intention to make a £12.50 per share pre-conditional cash offer for Sky," it said.

      "As a result of the announcement of this higher cash offer, the Independent Committee is withdrawing its recommendation of the offer announced by 21st Century Fox on 15 December 2016 and is now terminating the co-operation agreement entered into with 21st Century Fox on the same date."
      Looks like its bye bye to Fox and the Disney deal. Not seeing them entering a bidding war, if they do it will be a big jump to their previous offering.
      Also quoted was about keeping Osterley HQ of Sky commitment for five years. Interesting...

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      Re: Comcast launches rival £22bn Sky takeover bid

      It will be interesting to see what happens with this bid. Comcast areanother large US firm and it'll be difficult to say whether this will be good or bad for the european consumers.

      Sky has built a number of large buildings at their Osterley site, but I wouldn't say it was ideal.

      https://www.google.co.uk/maps/search.../data=!3m1!1e3

      That's a public road going through the middle. There are security gates either side and the road tends to only have vehicles intended for Sky business.

      There are a lot of people who work here, along with a lot of visitors too. If you want to travel between each side, you have to go through the security gates and cross the road.

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      Re: Comcast launches rival £22bn Sky takeover bid

      This offer values the Murdoch holdings at just under £9 billion, which they might decide is to good to refuse.

      TomD


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      Re: Comcast launches rival £22bn Sky takeover bid

      Very likely, and a lot of people will only be too happy to see them leave.

      Sure it's was through the Murdoch that Sky was originally formed, but they haven't had any good press coverage for a few years now.

      Just how good would Comcast be though?

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      Re: Comcast launches rival £22bn Sky takeover bid

      Hello All
      I suspect that Comcast just see Sky as an income stream nothing more with over
      12 million + Customers it will be a licence to print money, regular income on a
      monthly basis & the freedom to increase charges whenever they like with
      very little effort.
      What can Comcast bring regarding channels or other viewing input We don't already
      have ......? We have Netflix & Spotify due shortly & We already have numerous Rubbish
      channels at present that Nobody Watches...!!!
      I cannot think of any more US Channels that I would really want unless I'm Missing Something
      Maybe the ' Old Saying' Better the Devil you No.......
      Springs to Mind....!!!!!

      Just a Thought.............Have a Nice Day.......

     

     

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