Comcast challenges Murdoch and Disney with $31 billion offer for Sky

U.S. cable giant Comcast (CMCSA.O) offered to buy Sky (SKYB.L) for $31 billion in an unsolicited approach, taking on Rupert Murdoch’s Fox and Bob Iger’s Walt Disney in the battle for Europe’s biggest pay-TV group.

The world’s biggest entertainment company, which owns NBC and Universal Pictures, said on Tuesday it proposed to offer 12.50 pounds per share, significantly higher than the 10.75 pounds Fox (FOXA.O) had agreed to pay for the British company

The offer pits Comcast’s Brian L. Roberts against Murdoch, the 86-year-old tycoon who helped to launch Sky and pioneer pay-TV in Britain. Iger is also a long time rival after Comcast tried and failed to buy Disney (DIS.N) for $54 billion in 2004.

Disney had agreed to buy Sky from Fox at a later date along with other assets in a separate deal worth $52 billion.



Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s