May 21, 2018

Comcast boosted in battle for Sky

US cable TV giant Comcast appears to have gained the upper hand in its battle to take control of Sky. Rupert Murdoch's 21st Century Fox, which already owns 39.1% of Sky, agreed an initial deal to buy the 61% of Sky it does not already own, in December 2016. In early April, 21st Century Fox said it would sell off Sky News to Disney or ring-fence it to try to allay regulatory concerns over its proposed acquisition of Sky. In late April, US telecoms giant Comcast threw its hat into the ring, making a formal £22bn bid for Sky that values the UK broadcaster at £12.50 a share. Chief executive Brian Roberts said: "We have long believed Sky is an outstanding company and a great fit with Comcast. Sky has a strong business, excellent customer loyalty, and a valued brand."

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