Sep 23, 2018

Comcast chief pledges Sky independence

Sky will operate independently after Comcast completes its £30bn takeover of the British media company, the US cable group's chief executive has said after winning a drawn-out battle against rivals Walt Disney and 21st Century Fox. Comcast's offer has been recommended by the independent Sky committee created to assess bids for the company. The assets included Fox's 39 per cent stake in Sky - which means Disney will be able to recoup about £11.8bn if it sells its Sky shares to Comcast. Comcast's purchase of Sky is priced significantly higher than some analysts had expected but Alice Enders of Enders Analysis said Sky's move into broadband and its recent successful bid for a new Premier League rights contract had bolstered the company's appeal. With 23m subscribers across Europe, Sky will give Comcast a launch pad for new digital services in an era increasingly shaped by streaming providers such as Netflix and Amazon.

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