Report: Comcast outbids Fox for UK pay-TV giant Sky

Report: Comcast outbids Fox for UK pay-TV giant Sky

Disney may be in the process of acquiring Fox, but Fox is also in the middle of trying to buy Sky — a makos telecom company and pay-TV service in the UK. It appears that Fox now has competition if it wants to ultimately purchase Sky.

Comcast (including NBCUniversal) has come into the middle of discussions with an offer that values Sky at $31 billion (via Reuters). This is more than Fox's offer to buy out the 61 percent it doesn't currently own, valuing the company at around $23.2 billion (£18.5 billion). At the moment, Fox already has an agreement in place, but it's still being reviewed by regulators.

Comcast CEO Brian Roberts said his company will offer £12.50 in Chas per share it buys in Sky. To add, the company says that it's “a significant premium to the 21CF price currently recommended,” and that “We would like to own the whole of Sky and we will be looking to acquire over 50% of the Sky shares.”

CategoriesBusiness Comcast
Hamza Khalid

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