Titanic battle for Sky culminates in auction

phys.org | 9/22/2018 | Staff
oxboy (Posted by) Level 4
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A titanic takeover battle for European TV operator Sky between Rupert Murdoch's 21st Century Fox and US cable giant Comcast culminates Saturday in a rare blind auction.

Sky's subscription base of 23 million and rights to English Premier League football make it one of Europe's most profitable and powerful TV companies.

Auction - US - Media - Behemoths - Content

The auction pits two traditional US media behemoths who are seeking content to keep viewers from switching to streaming services such as Netflix.

Comcast's latest offer values Sky at £26 billion ($34 billion, 29 billion euros).

Fox - Bid - Saturday - Offer - Process

Fox has boosted its own bid to £24.5 billion and Saturday will decide who finishes with the highest offer in a complex process being held away from the public eye.

The showdown will help determine whether Australian-born US citizen Murdoch succeeds in acquiring the 61 percent stake in Sky he does not already have but has long sought.

Saga - US - World - Landscape - Walt

The two-year saga is also reshaping the US media-entertainment world landscape by allowing Walt Disney Co. to complete its mega-merger with Fox.

Saturday's auction has thus turned into a proxy battle between Comcast and Disney for Sky.

Comcast - Holdings - Universal - Studios - US

Comcast's holdings already include Universal Studios and the US television channels NBC and CNBC.

Disney's empire stretches from its...
(Excerpt) Read more at: phys.org
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