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Sky, Disney & Comcast

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14 Jun 2018 03:38

The Comcast/Disney biding war begins ... stay tuned!
https://www.bbc.com/news/business-44473147
Comcast, the US media conglomerate, has submitted another offer to buy parts of 21st Century Fox, after getting rebuffed last year in favour of Disney.

Comcast said it has offered $65bn (£48.6bn) in cash for assets that include Fox's film and television studios and international businesses.

The bid sets up a fight with Disney, which announced its own plan to acquire those businesses last year.

The two firms are also vying for ownership of Sky in the UK.

Comcast said its proposal is "at least as favourable" to shareholders as Disney's plan.

The firm is offering Fox $35 per share in cash, which it says provides more shareholder certainty and is 19% higher than Disney's proposal, which involves exchanging shares.


https://www.bloomberg.com/news/articles/2018-06-13/comcast-offers-65-billion-for-fox-in-bidding-war-with-disney
Comcast also is making an ambitious push in Europe that centers on U.K. pay TV provider Sky. After Fox made a takeover offer for the 61 percent stake in Sky that it doesn’t already own, Comcast launched a 22 billion pound ($30 billion) counterbid for the business. Disney also is interested in owning Sky.

But Comcast investors haven’t welcomed the company’s sudden appetite for megadeals. Its shares were down 19 percent this year through Wednesday. If Comcast buys Fox and Sky, the cable giant could become one of America’s largest corporate borrowers and its credit ratings may teeter at the bottom edge of investment grade.
"Are you going to believe me or what you see with your own eyes?"

“It doesn’t matter what I do. People need to hear what I have to say. There’s no one else who can say what I can say. It doesn’t matter what I live.”
User avatar Robert5091
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16 Jun 2018 02:19

https://www.bloomberg.com/news/articles/2018-06-15/fox-board-is-said-to-weigh-65-billion-comcast-bid-on-wednesday
Rupert Murdoch and the 21st Century Fox Inc. board will consider on Wednesday how to proceed with Comcast Corp.’s $65 billion bid for the company’s entertainment assets, people with knowledge of the matter said.

The Fox board, which agreed to sell the assets to Walt Disney Co. last year, must decide whether Comcast’s proposal has a reasonable chance of becoming a superior offer before it can begin negotiations with the largest U.S. cable television company. Fox can also ask Disney for a waiver to begin discussions with Comcast, said the people, who asked not to be identified because the matter is private.

The regularly scheduled board meeting was set before Comcast made its new, improved offer on Wednesday, said one of the people. Fox said this week that it would “carefully review” Comcast’s unsolicited proposal.
...
Under the terms of its merger agreement with Fox, Disney has the right of refusal on any counteroffer. If the Fox board deems Comcast’s offer to be better, Disney will have five days to make a fresh bid.
"Are you going to believe me or what you see with your own eyes?"

“It doesn’t matter what I do. People need to hear what I have to say. There’s no one else who can say what I can say. It doesn’t matter what I live.”
User avatar Robert5091
Senior Member
 
Posts: 2,046
Joined: 29 Mar 2016 08:56
Location: stockholm, sweden

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