Home Tags Sky
Over the weekend, the saga of the bidding war for Sky finally reached its conclusion when US broadcasting giant Comcast outbid Fox for the British company in a deal that values it at more than $40 billion.
For the first time ever in the UK, more people are subscribing to Netflix and Amazon than pay-TV services, like Sky. It's a historic power shift, which shows that Netflix and Amazon are no longer just challenger brands.
Comcast increased its bid for Sky Wednesday evening, beating an offer 21st Century Fox issued earlier in the day to continue a bidding war for the British broadcaster. Comcast's newest offer came in at £14.75 per share, valuing Sky at £26 billion ($34 billion) up from it's previous offer of £22 billion.
The firm, which has just three partners and just over a dozen staff, has advised on just three deals so far in 2018, but those deals have a combined value of more than $65 billion.
Rupert Murdoch’s Fox cleared to go head-to-head with Comcast in $29 billion Sky takeover battle — on one condition
Sky is known in Europe for its live football (soccer in the US) broadcasts as well as for premium content such as HBO's "Game of Thrones" and in-house productions such as "Fortitude" and "Britannia."
Robey Warshaw brought in £72.7 million in revenue in the year ended March 31, 2017, after scoring roles on a series of huge takeover deals.
21st Century Fox, which owns 40% of Sky, has been trying to buy the remaining stake since the end of 2016 but has faced repeated regulatory hurdles.
The unannounced raids are part of an as yet unannounced sports rights competition probe.
Comcast will bid $31 billion for British satellite broadcaster Sky. The deal could upset 21st Century Fox's plans to acquire Sky in order to sell it to Disney.
Rupert Murdoch's 21st Century Fox has been trying to buy the 61% of Sky it doesn't already own since late 2016. Now Comcast wants in on the action.