Source: Campaign
The US media giant Comcast, which owns NBC and Universal Studios, has bid £14.75p a share, following Fox’s £14 a share offer yesterday, which values Sky at £24.5bn.
The new UK culture secretary, Jeremy Wright, confirmed the government’s approval for Fox’s proposed takeover of Sky. The company is bidding to takeover the 61% of Sky it does not already own. As part of the takeover deal, Fox has pledged to sell Sky News.
Now Comcast increased their offer, which has won the recommendation of Sky’s independent committee.
Last December Disney announced it wanted to buy the bulk of Fox’s business, including its 39% stake in Sky.
Comcast chief executive Brian Roberts has said the company would be prepared to co-own Sky with either Fox or Disney, as long his company held the majority stake.
