Comcast declares bidding war on Murdoch and Disney over Sky

Rupert Murdoch faces competition for Sky from Comcast. Jewel Samad  AFP

Rupert Murdoch's 21st Century Fox has already offered to buy Sky, and Fox will now be considering whether it will increase its original offer of £10.75 ($15) per share to outmatch Comcast's offer of £12.50 (around $17.50) a share.

Comcast has made its $31 billion offer formal, offering a 16% premium to the Fox offer on the table. The cable TV firm announced its plan to bid for Sky in February. (CMCSA) announced its pre-conditional superior cash offer for the entire issued and to be issued share capital of Sky plc (BSY.L, SKY.L).

The group added that it plans to agree a raft of legally-binding commitments over Sky and its investment in the United Kingdom, in particular for Sky News, while it also said it would commit to keeping the group's Osterley headquarters for at least five years.

Sky's board responded by withdrawing its recommendation for investors to approve Fox's December 2016 bid, which has been repeatedly hit by regulatory hurdles.

Sky shares jumped 3% on news of the offer.

A woman walks past the NBC and Comcast logos on 30 Rockefeller Plaza in midtown Manhattan in NY, U.S., February 27, 2018.

More news: Australia says admiral will be next United States ambassador to Seoul

But the United Kingdom competition watchdog has raised a host of concerns over the Fox acquisition, while since then, Walt Disney has also agreed to snap up a raft of Fox assets including the Sky 39% stake.

UK-based Sky, with more than 20 million customers for its sports, entertainment and news channels across Europe, is at the center of a three-way battle for control between Murdoch's Twenty-First Century Fox (FOXA.O), Walt Disney (DIS.N) and Comcast and their veteran bosses.

It said it would expect the deal to complete before the end of 2018.

"We have long believed Sky is an outstanding company and a great fit with Comcast", CEO Brian Roberts said in the statement.

And in a bid to head off any competition concerns, the group said it would vow not to acquire any majority stake in any United Kingdom newspapers for five years.

Related News:

  • Crazy Rich Asians Is Going to Make Comedy History

    Crazy Rich Asians Is Going to Make Comedy History

    A tussel ensues between the mother and the lover in which Rachel doesn't seem in a mood to back down. "I'm much more of a Harry". Crazy Rich Asians will hit theaters on August 17.
    Customs union debate in Commons on Thursday; Lords voted in support

    Customs union debate in Commons on Thursday; Lords voted in support

    The Prime Minister's spokesman played down its significance, saying Thursday's event was a "routine backbench business debate". Questions on the Customs Union arise as the EU rejects the UK's proposals for the Irish border after Brexit.
    Milwaukee Bucks fans chant

    Milwaukee Bucks fans chant "Bucks in 6" at end of Game 3

    Seemingly defenseless in their most recent loss, the Milwaukee Bucks found their footing in the playoffs at the Bradley Center. Rozier ended up with just nine points, two rebounds , nine assists , and two steals on 2-7 shooting with five turnovers.
  • OnePlus 6 with Ceramic Back Panel Teased Ahead of its Official launch

    OnePlus 6 with Ceramic Back Panel Teased Ahead of its Official launch

    Along with the regular version, OnePlus will introduce an Avengers-themed variant, which will be available in limited quantities. The base model of OnePlus 6 with 6GB RAM and 64GB internal storage is expected to be priced between Rs 36,999 and Rs 39,999.
    Armenian Prime Minister Serzh Sarksyan resigns after two weeks of mass protests

    Armenian Prime Minister Serzh Sarksyan resigns after two weeks of mass protests

    Mr Sargsyan served two consecutive terms as president of Armenia, starting in 2008 and ending on 9 April this year. The street movement was against me. "I am fulfilling your demand", he said in a statement quoted by the BBC .
    Minnesota prosecutor won't file charges in Prince's death

    Minnesota prosecutor won't file charges in Prince's death

    Surveillance footage showed the bodyguard Johnson at a Walgreens, picking up a prescription hours before Prince's death. It was announced this week that no charges would be made in relation to the music icon's death.
  • Meek Mill takes chopper to basketball game after prison release

    Meek Mill takes chopper to basketball game after prison release

    Meek Mill , who was sentenced after violating his probation on a drug and weapon's case regained his freedom on Monday. It also did not remove Brinkley but noted she "may opt to remove herself from presiding over this matter".
    Mnuchin will head to China for trade talks

    Mnuchin will head to China for trade talks

    In a speech earlier this month, Chinese president Xi Jinping said his country would open itself wider to foreign companies. Americana Development and the Champion Safe Co. of Provo, Utah, said in comments to the Office of U.S.
    Jrue Holiday Is Helping Anthony Davis Take The Pelicans Higher

    Jrue Holiday Is Helping Anthony Davis Take The Pelicans Higher

    Please keep in mind that the majority of the games if not on a national channel are only available in the team's viewing network. Davis and the Pelicans had to weather the storm during the 4th quarter which saw the Blazers outscore the Pelicans by 10 points.
  • Brady, Gronk Still not Happy About Butler Benching

    Brady, Gronk Still not Happy About Butler Benching

    Josh Rosen is also said to be on the team's radar as is Baker Mayfield. "The chances of losing are 90 percent". Gronkowski said fans could expect a "freak-a-leek" when he returned, but backtracked soon after.
    Scuffling Matt Harvey defiant over spot in Mets rotation

    Scuffling Matt Harvey defiant over spot in Mets rotation

    For the time being, though, it will be interesting to see how Callaway utilizes Harvey in his new role with the club. This will be a good spot for Harvey to pitch in because they are non-pressure situations.
    Woodstock store joins in International Record Store Day

    Woodstock store joins in International Record Store Day

    Ahead of this year's Record Store Day , we've got a list of all our top events we think you need to check out. Back when Record Store Day began, Jon Lambert never imagined the event would be such a hit with collectors.


Most liked

Suspects in killing of Hamas engineer still in Malaysia, police say
Fadi Mohammad al-Batsh, 35, was killed in a hail of bullets by two attackers Saturday as he walked to a mosque for dawn prayers. Dan Diker from the Jerusalem Center for Public Affairs told WIN that Hamas has indeed become an global terrorist organization.

North Florida deputies shot dead through restaurant window
Even so, there was a big group of people who didn't know the two men, but wanted to honor the sacrifices they made for the badge. He then went into his vehicle and killed himself. "It's inexplicable", State Attorney Bill Cervone said of the suspect.

Apple's deal to buy Shazam is under European investigation
The company has developed a "visual Shazam" augmented reality service, which can identify posters, ads and other products. In February, a handful of European countries called on the EU to carry out a regulatory investigation of the deal.

Klopp: De Bruyne's form makes Salah award 'even more special'
Sane, who joined City in 2016, also described the team as "perfect" and credited their efforts in helping him win the award. It's a big test, a big challenge against a really good side in Roma , but one I feel we are ready for.

Legal experts divided on CJI impeachment
The motion was nothing but a move to embarrass and humiliate the Chief Justice of India (CJI) and, indirectly, the government. Vice President M Venkaiah Naidu on Monday rejected the Impeachment Motion against Chief Justice of India ( CJI) Dipak Misra .

Woodstock store joins in International Record Store Day
Ahead of this year's Record Store Day , we've got a list of all our top events we think you need to check out. Back when Record Store Day began, Jon Lambert never imagined the event would be such a hit with collectors.

Key player for Game 4: Timberwolves vs. Rockets
The Rockets will need Gordon - or another breakout performance from Gerald Green - in order to reclaim control of this series. Jeff Teague chipped in with 23 points to help Minnesota grab its first postseason victory in 14 years.

Meghan Markle Looks Stunning in Stella McCartney
Markle's concert-ready getup consisted of a fitted navy cape dress by Stella McCartney and blue suede Manolo Blahnik heels. Sting and Shaggy were joined by acts like Kylie Minogue , Shawn Mendes and Sir Tom Jones who were also in the line-up.

Call Of Duty: Black Ops 4 May Get Battle Royale Mode Instead
The success of PUBG has sent virtually every publisher sprinting to build new games or convert old ones with new combat modes. According to the sources, Black Ops 4 will bring more multiplayer games, as well as the popular Zombie mode we all love.

Russia, China to obstruct USA attempt to sabotage Iran nuclear deal
We had the moral obligations, we had promised not to do it some 10 years ago, I think, upon the request of our known partners. The country has become a congested war zone in which multiple nations are fielding forces to pursue differing interests.

Door to US-China trade talks seems to open after IMF meeting
China retaliated with tariffs of its own on USA imports, particularly from the agriculture and metal industries. Mnuchin said he discussed Xi's proposals with Chinese officials.

Coachella 2018: Beyoncé reigns at 'Beychella'
Colombian singer J Balvin joined Beyonce on stage for " Mi Gente ", a song they played without him last week. Mother-of-three Beyonce later shared several images from her performance on her Instagram account.

Pens Lose Game 5 to Flyers 4-2
Bryan Rust beat Neuvirth with a wrap around 12 minutes into the second for his ninth career goal in a potential elimination game. The Flyers had a 46.67 CF% in the final 20 minutes at 5-on-5, but had three high danger scoring chances to one for Pittsburgh.

Mauricio Pochettino and Jose Mourinho in focus
Pochettino has now suffered a League Cup final defeat and successive FA Cup semi-final losses with Tottenham . If we split the match into periods we were the best team for many of these periods.

Alabama lands coveted 4-star QB commit from younger Tagovailoa
Now, with Hurts on the White team, Jones will get his chance to shine as the first quarterback on the Crimson team. It's all family with me and the coaches like [assistant coach Tosh Lupoi] and all the other guys.