Comcast beats Fox to 61 per cent stake in Sky

The independent directors of UK pay-television operator Sky have recommended its shareholders accept Comcast’s £30.5bn ($40bn/€34bn) takeover offer.

US telco Comcast beat media group Fox in Saturday’s three-round blind auction, with the former acquiring 61 per cent of Sky. Comcast won with a bid of £17.28 per share. Fox’s final bid was £15.67.

Fox already owned 39 per cent of Sky – a stake set to be sold to media group Disney as part of its $71bn takeover of Fox assets struck last year.

Fox and Disney’s failure to acquire the remaining 61 per cent means the two media groups must now decide whether to include the remaining 39 per cent as part of their deal, sell the stake to Comcast for about £11.9bn, or put the stake up for tender.

Most recent

Uefa will go to market later this year with the rights to the Champions League and Europa League under pressure from Europe’s top clubs to at least maintain the kind of growth it enjoyed in the current cycle. But there are reasons why that will be a massive challenge.

Internet giant Amazon will pay more than public-service broadcaster France Télévisions for a substantially smaller package of rights to the French Open’s 2021-23 cycle.

Chinese social media giant Tencent saw off competition from rival streaming player Youku Tudou to retain the NBA’s digital rights in the country for the 2020-25 cycle at a record-breaking fee, underscoring the strong growth in China’s streaming market in recent years.

The German Bundesliga’s international sales and marketing arm, Bundesliga International, is set for a busy 12 months of media-rights sales as the league approaches the conclusion of deals across the Americas, Asia, Middle East and North Africa.