Rapid TV News - Comcast reaches for Sky as it kills Fox acquisition plans
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The saga takes another twist: Comcast has formally dropped out of the battle with Disney to purchase the select TV and film assets of 21st Century Fox and will now train all its corporate guns on taking control of pan-European pay-TV provider Sky.
comcast 27feb2018

In a brief statement to the US investor community regarding its pursuit of the assets, the US cable giant US cable giant said that going forward it did not intend to pursue further the acquisition of the 21st Century Fox assets and, instead it would focus on its recommended offer for Sky.

Commenting on the development, Comcast CEO and chairman Brian Roberts added: “I’d like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.”

The out-of-the-blue announcement came less than a week after Comcast responded Rupert Murdoch's £14 a share offer for Sky by coming back to the table with a bid of £14.75, effectively valuing the pay-TV group at £26 billion. Comcast said that its new offer had been recommended by the Sky

Independent Committee of Directors and that it further underscored its belief and its commitment to owning the much-valued pay-TV provider.
The £14.75 a share bid by Comcast came on that day that the UK government gave its official approval for Rupert Murdoch’s company to go ahead with its long-held plan to acquire the 61% of shares in Sky that his media firm doesn’t hold. All eyes are now on Fox for its next move.