adplus-dvertising
Trends

Comcast outbids Fox in $40B battle for Sky

comcast outbids fox in 40b battle for sky

Comcast has outbid Twenty-First Century Fox for the UK’s Sky, a final step in what’s been a years-long takeover battle between the two media conglomerates.
Comcast’s final offer gives Sky a roughly $39 billion price tag.
The acquisition of Sky, which has 23 million subscribers in the UK, Ireland, Germany, Austria and Italy, will give Comcast a much stronger foothold in the international market and much-needed ammo to compete with Amazon and Netflix in the streaming wars.
Both companies upped their offers for Sky at the settlement auction Saturday, with Comcast offering £17.28 per Sky ordinary share and Fox offering £15.67 per share. Comcast initially priced Sky’s shares at £14.75 apiece. Fox’s original offer was £14 per share.
Both companies will reveal their revised bids on Monday. Sky’s board will make its official recommendation by October 11.
Sky operates several brands including Sky News, Sky Sports and Sky Cinema.
Source: TechCrunch
To Read Our Daily News Updates, Please visit Inventiva or Subscribe Our Newsletter & Push.

See also  Fake e-cigarette liquid is putting vapers at risk — scanning technology could prevent it

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
%d bloggers like this:

Adblock Detected

Please consider supporting us by disabling your ad blocker