Murdoch's 21st Century Fox Ups Sky Bid to Beat Rival Comcast

12 Juillet, 2018, 04:40 | Auteur: Christine Menetries
  • Mai Fyfield is viewed as one of the main architects of Sky's success

In an extraordinary day of bid and counterbid, the £14-a-share offer for the 61 per cent of Sky that Fox does not already own, which has been approved by Sky's independent directors, was capped in the evening, after Wall Street had closed, by a £14.75-a-share cash bid from Comcast.

Comcast has said that Sky is very important because it could take the USA -bound cable and internet giant into global markets.

The move by the NBC owner came less than 24 hours after 21st Century Fox increased its offer to £24.5bn.

21st Century Fox is the parent company of FOX News and FOX Business.

Murdoch's company still faces significant regulatory battles in Britain, including the culture secretary's statement that Fox would have to sell Sky News to win government approval because of concerns about media plurality. This values the European pay-TV group at $32.5B, trumping Comcast's earlier $31B (£12.50 per share) offer.

It's not clear yet whether Comcast will also increase its bid for 21st Century Fox to counter Disney's latest $71 billion offer. The complaint alleges that Fox's prospectus filed to the Securities and Exchange Commission after the company accepted Disney's offer was incomplete.

Former USC coach Steve Sarkisian loses $30M lawsuit
Sarkisian, who is now the offensive coordinator for the Atlanta Falcons, sued USC for $30 million after he was sacked in 2015. One player even texted ESPN that Sarkisian "showed up lit to meetings again today".

Australia monster crocodile caught after eight-year hunt
The largest crocodile ever captured in the region was a 20-ft. -long croc, nabbed in 1974. The captured crocodile was tightly bound to the cart.

Moscow Will Expel Two Greek Diplomats in Response to Athens
Kathimerini said Greek authorities were investigating intrusion into domestic policy issues and quoted diplomatic sources as saying the suspicions were exclusively focused on those four individuals.

Comcast and Walt Disney (DIS.N) are locked in a separate $70 billion-plus battle to buy most of Fox's assets, which would include Sky.

"We have long recognised the unique position that Sky occupies", said Gilbert.

Sky shares traded at £14.90 as of 9:55 am in London.

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

However, British regulators have indicated that if Disney succeeds in buying Fox, including the 39 percent stake in Sky, it would be required to offer the same price for the remainder of Sky.

"American consumers have benefitted from head-to-head competition between Disney and Fox's cable sports programming that ultimately has prevented cable television subscription prices from rising even higher", said Makan Delrahim, assistant attorney general and head of the Justice Department's Antitrust Division.

Conseillé:



Populaire

Jobs Report: Workers Are Quitting Their Jobs at Dotcom Bubble Rates
Companies continue to fill more positions and as such, job openings dropped to 6.64 million in May, down from 6.84 million. According to the Labor Department , the number of people quitting their jobs is the highest it has been since 2001.

Van Avermaet beats Thomas to yellow jersey as Froome recovers lost time
Froome was the next to go, touching shoulders with Katusha-Alpecin's Rick Zabel and being sent hurtling into a field. Richie Porte's BMC Racing have claimed victory in the team trial on the third stage of the Tour de France .

Cardi B Welcomes Baby Girl - Check Out Her Unique Name!
While on iHeartMedia's Power 105.1 The Breakfast Club she declared: 'I'm a grown woman, I'm 25 years ago, I'm a schmillionaire. The baby's arrival comes just weeks after news broke that the couple have been secretly married for almost a year.

Trump opens North Atlantic Treaty Organisation summit with blistering criticism of Germany
And the thing that is really important is that President Trump was nearly projecting what people say about him onto Germany today. Trump also misrepresented Germany's energy picture, asserting coal and nuclear power are gone from the mix.

Comeback kings Croatia have unfinished business at the World Cup
Peter Cook, 33, had arrived to watch seven hours ahead of the start, leaving work on hold for the day. "That's why I'm here - I don't want to miss that".

Facebook faces its first class action in the UK
The commissioner's office also said it could now bring criminal charges against the parent company of Cambridge Analytica. Facebook's annual revenue in 2017 was almost $40 billion, translating to a much higher possible fine of $1.6 billion.

Del Potro sets up Nadal clash at Wimbledon
Del Potro raised his game again, though, claiming his third tie-break success of the match to book his date with Nadal. He looked flat as he was broken to trail 1-3 but he clawed his way back to lead 5-4 with his serve to come.

Best Tweets: Ronaldo and Messi sat at home taking notes from Trippier
He said all the major supermarkets were shutting in Croatia for the match and the whole country would be watching. The video above captured the atmosphere live after the match.

Wild Scenes in Croatia as Nation Celebrates Making World Cup Final
We hope for a victory", Plenkovic, dressed in a football jersey, told reporters before leaving for Moscow. England fans were left devastated as the nation missed out on a place in the World Cup final .

Donald Trump says Germany is 'totally controlled by Russia' at North Atlantic Treaty Organisation summit
NATO Secretary General Jens Stoltenberg noted Wednesday that member countries have already been increasing their defense spending. Still, Trump is using the 4-percent-argument to ram home his message that the USA gets a bad deal from allies.