Sky’s share price fell 2% on Thursday on the heels of Comcast’s announcement that it was abandoning its bid for 21st Century Fox assets to focus on acquiring Sky. The drop in share price was seen as a sign of investor concern that the bidding war for Europe’s pay-tv leader could be over.
Fox has until Aug. 8 to counter Comcast’s £14.75 per-share offer, which values Sky at £34 billion. Even after Thursday’s slip in price, Sky was still trading above £15.
Any improved offer by Fox would need to be sanctioned by Disney, which is on track to buy Fox’s major entertainment assets and which must decide how important Sky is to its plans. Disney’s larger play is to add Fox content to its own in preparation for a major direct-to-consumer push to rival the likes of Netflix.
“Given what we know about Disney’s strategy and direct-to-consumer plans,...
Fox has until Aug. 8 to counter Comcast’s £14.75 per-share offer, which values Sky at £34 billion. Even after Thursday’s slip in price, Sky was still trading above £15.
Any improved offer by Fox would need to be sanctioned by Disney, which is on track to buy Fox’s major entertainment assets and which must decide how important Sky is to its plans. Disney’s larger play is to add Fox content to its own in preparation for a major direct-to-consumer push to rival the likes of Netflix.
“Given what we know about Disney’s strategy and direct-to-consumer plans,...
- 7/19/2018
- by Stewart Clarke
- Variety Film + TV
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