Dec 4, 2017
Opening Quote: Sky – the Magic Kingdom of Isleworth?
Sky's future ownership looks uncertain, as news that 21st Century Fox may yet sell its 39 per cent stake to Disney means Isleworth could still end up as part of the Magic Kingdom. If a deal were agreed for Disney to buy Fox's entertainment assets, these would include the Sky stake but not preclude the continuation of a Disney-owned Fox's bid for the rest of the shares. Fox's attempt to complete a takeover of Sky - the second time in a decade it has tried to buy the company in which it holds that 39 per cent stake - has run into regulatory delays, with the UK Competition and Markets Authority scrutinising the deal following months of review by Ofcom, the UK media watchdog. The US cable group that owns NBCUniversal, and Verizon, the telecoms operator, have also expressed interest in Fox's entertainment assets. Disney's willingness to talk appeared to have been based on the content it could gain from Fox's movie studio and cable channels and the direct customer relationships it could gain from Sky's subscription TV businesses across Europe.
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