Comcast has outbid Rupert Murdoch’s 21st Century Fox in an auction to acquire UK telecommunications company Sky. Comcast has acquired more than 30 percent of Sky shares, the company said Tuesday, following its triumph over Fox at a weekend takeover auction..


Revenue is expected to … The auction puts Sky's value at $40 billion. The approximately $38.8 billion all-cash price beat out a rival offer from 21st Century Fox and its new owner Walt Disney. 21st Century Fox, which owns 39% stake in Sky, had previously declined a US$60 billion acquisition offer by Comcast in favor of its deal with Disney, due to anti-competition concerns.

Comcast won a blind auction for Sky on Sept. 22, beating out Fox with a bid worth $40 billion.Comcast said it would offer the same price (about $22. In December 2009, Comcast announced its intent to acquire a majority stake in the media conglomerate NBC Universal from General Electric (GE). Moreover, there is concern around the substantial amount of new debt Comcast will have to carry on its balance sheet following the acquisition. Comcast Corp. (NASDAQ: CMCSA) has seen its total revenues grow by 17% from $80.7 billion in 2016 to $94.5 billion in 2018. The battle for Sky: Why it matters; What next for Murdoch after Sky deal? On February 27, 2018, Comcast offered to purchase 61% stake in Sky plc at a value of £12.50 per-share, approximately £22.1 billion. Comcast’s initial bid for Sky along with the announcement of the transaction were both followed by decreases in Comcast’s stock price. Comcast Corp has won its bid for European entertainment giant Sky Plc. Comcast has finally outbid 21st Century Fox in a long acquisition battle for British broadcaster Sky, after it raised its offer to £17.28 per share. Comcast's bid equated to £17.28 per share, beating Fox's of £15.67 per share.. Acquisition of Sky plc.


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