US cable giant Comcast buys pay-per-view Sky for 33 billion euros

09/23/2018

Cable giant Comcast will pay 33 billion euros
Paying channel Sky is now American

 

  

DPA

Teamwork for years: payers Sky and the football company "Bundesliga".

Competing for the British channel group Sky, the US cable giant Comcast has outdone the 21st Century Fox. Comcast offered around 33 billion euros.

  The takeover bid for the British media and telecommunications company Sky is decided: The US cable giant Comcast has prevailed in the bidding competition against the 21st Century Fox by media entrepreneur Rupert Murdoch. This was announced by the Takeover Board. The auction had started on Friday at 18 clock (CEST), a maximum of three rounds were provided.

   
  Comcast offered 17.28 pounds per Sky share, Fox only 15.67 pounds per share. This sky is estimated at about 29.6 billion pounds (about 33 billion euros).

  

Earlier, Comcast and 21st Century had delivered a bidding battle. Murdoch's Fox empire had already made the first bid for Sky in December 2016 and initially offered 10.75 pounds per share. The offer had gouged out Comcast in the spring, after which Fox followed up in July.

  

Fox already owns 39 percent of Sky and has been working hard for a complete takeover for a long time. However, this plan met resistance from UK regulators. They fear that the Murdoch clan could get too much influence on the media landscape.

  Well-known for live sports broadcasts and feature films, the Sky program runs in 23 million homes in Europe, one of the largest offshoots in Germany. Traditional media and entertainment companies fear the increasingly powerful competition from Netflix and Amazon.

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