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Now we've all caught our breath, here's everything you need to know about the biggest story in British media -- the battle royale for Sky (Thread π)
Media giants Comcast, Fox and Disney are all in the running to buy Sky. Why do they want it?
-- Big fans of Sky's technology, like the Sky Q box πΊπ‘
-- Want to diversify out of the U.S. π
-- Want to beef up to compete with Netflix and Amazon πͺ
bloomberg.com/news/articles/β¦
-- Big fans of Sky's technology, like the Sky Q box πΊπ‘
-- Want to diversify out of the U.S. π
-- Want to beef up to compete with Netflix and Amazon πͺ
bloomberg.com/news/articles/β¦
There's a fair bit of personal drama here. Comcast CEO Brian Roberts has a long history of going toe-to-toe with Fox executive chairman Rupert Murdoch and Disney CEO Bob Iger for media dominance. These are astute, battle-hardened deal-makers bloomberg.com/gadfly/article⦠
Roberts also has the advantage of not carrying Murdoch's baggage in the U.K. A 2011 phone-hacking scandal at Murdoch's papers and allegations of sexual and racial harassment at Fox News have all slowed regulatory approval of Fox's bid for Sky bloomberg.com/news/articles/β¦
What happens next? Fox (or Disney) need to decide whether to bid higher than Comcast's offer of Β£12.50 per Sky share. Fox already has a bid that's 16% below Comcast's price on the table. In other words, get ready for an auction π°πbloomberg.com/news/articles/β¦
Investors think a Fox bump is likely -- just look at what's happened to Sky's share price in recent days bloomberg.com/gadfly/articleβ¦
Perhaps the most important person in all this now is Sky's deputy chairman @MartinGilbert83 - he'll have to decide which bid to recommend to Sky's shareholders, making him the power broker between competing billionaires bloomberg.com/news/articles/β¦
Experts on this story include @StewartPurvis, @stevenjbarnett, @Avaaz, @Alaphia, @Ed_Miliband, @tom_watson, @DamianCollins, @LordCFalconer, @adamboultonSKY and @MattHancock -- they've all been watching the U.K. regulatory process closely, which comes to a head in June
To stay apace with every fresh twist in this saga, follow my @business and @gadfly colleagues @hellierd @TW_Seal @gerryfsmith @atbwebb @taralach @anoushasakoui and @rpenty -- I'm sure there's plenty more drama to come πΏ
And in short summary video form, here's my take from earlier with @BBCSimonMcCoy (End of Thread)
Sky's directors have now withdrawn their recommendation in favour of Fox's offer. With Comcast officially in town, it's all to play for - bloomberg.com/news/articles/β¦
Latest: I went on @BloombergTV to discuss Comcast gatecrashing Fox's bid for Sky πΊπ‘bloomberg.com/news/videos/20β¦
So, what happens now? Here's what's next in the Sky-Fox-Disney-Comcast saga #tictocnews bloomberg.com/news/articles/β¦
The plot thickens. Comcast don't just want Sky. They want Fox too, via @gerryfsmith #tictocnews bloomberg.com/news/articles/β¦
`We are into the game,' says hedge fund manager Crispin Odey, as Comcast gets the green light for its Sky bid. Next up: will @MattHancock clear Rupert Murdoch's Fox offer? bloomberg.com/news/articles/β¦
The key question for @MattHancock today is around the future of @SkyNews - will he make the Fox/Sky deal conditional on Fox selling Sky News? Or giving it an independent editorial board? Or legally separating it from Sky? Decisions, decisions..
I had the honour of joining @BBCSimonMcCoy to discuss Fox getting the all-clear for its Sky bid, provided it sells Sky News. Here's the clip π
Still confused by the Fox-Sky-Disney-Comcast saga? @gerryfsmith and I have done a little explainer, with a nifty graphic from @BBGVisualData bloomberg.com/news/articles/β¦
Disney gets out the big π° as it bids higher for Rupert Murdoch's Fox bloomberg.com/news/articles/β¦ via @NewsyNick
The UK Takeover Panel is weighing another intervention into the Fox-Sky-Disney-Comcast saga - story now on @TheTerminal, link to statement here: thetakeoverpanel.org.uk/wp-content/uplβ¦
In the battle for control of the bulk of Rupert Murdoch's media empire, the clock is ticking for Comcast bloomberg.com/news/articles/β¦ via @MsNabilaAhmed
What's next in the Comcast vs. Disney mega-media battle? Top piece by @MsNabilaAhmed and @gerryfsmith on the 5 ways it could play out bloomberg.com/news/articles/β¦ #media #deals
Here we go folks. The Sky bidding war is about to hot up bloomberg.com/news/articles/β¦ #TicTocNews
Just about to go on Bloomberg TV to discuss Fox's increased bid for Sky - tune in!
Rupert Murdoch fights back, as Fox boosts its bid for Sky to take on Comcast bloomberg.com/news/articles/β¦
Some Sky investors are unimpressed by Fox's latest Β£14 per share bid. `They're way behind the curve still,' says hedge fund manager Crispin Odey, who's long agitated for a higher offer. I discuss on Bloomberg TV here πΊ bloomberg.com/news/articles/β¦
The bidding war for Sky is well and truly here. Comcast raises its bid to Β£14.75 per share, 5% above Murdoch's Fox offer bloomberg.com/news/articles/β¦
The U.K. government has finally - 19 months, one general election, 3 culture secretaries, multiple Ofcom and CMA reviews, umpteen Ed Miliband letters, a Comcast and Disney bonanza later - approved Rupert #Murdoch's #Fox bid for #Sky bloomberg.com/news/articles/β¦
This U.S. hedge fund has made a killing on Sky π°π°π°bloomberg.com/news/articles/β¦ via @charlesstein1
Here's what's next in the battle for Rupert Murdoch's media empire πΊππ°bloomberg.com/news/articles/β¦ via @anoushasakoui @tompfeiffer1
July 27 is shaping up to be a big day in the battle between Comcast and Disney for Fox and Sky -- on both sides of the Atlantic πbloomberg.com/news/articles/β¦ $CMCSA $DIS $FOXA $SKY @anoushasakoui @MsNabilaAhmed @EdHammondNY @NewsyNick
Comcast throws in the towel in the fight for Fox, leaving Sky as the final battleground bloomberg.com/news/articles/β¦ via @anoushasakoui @gerryfsmith @ptsweeney $CMCSA $FOXA $DIS $SKY
Disney CEO Bob Iger says he's `extremely pleased' that Comcast has dropped out of the Fox hunt. But still no word on whether he'll continue the bidding war for Sky bloomberg.com/news/articles/β¦ $CMCSA $FOXA $DIS $SKY
Disney, are you watching? Sky posted another solid set of results -- growing sales, more customers. Will they come back with a higher bid... bloomberg.com/news/articles/β¦
If you were hoping Rupert #Murdoch would make his next big bid in the battle for Sky this week, you could be disappointed -- he and Disney can keep Comcast guessing well into September bloomberg.com/news/articles/β¦ via @chrispalmeri @anoushasakoui
Right on cue, Fox has just posted its offer document, with its bid price unchanged at Β£14 per share. The next step in the Sky bidding war will have to wait... bloomberg.com/news/articles/β¦
The end is in sight in the Sky bidding war. I went on @BloombergTV to discuss bloomberg.com/news/articles/β¦
Folks, it's the final countdown. Fox and Comcast are negotiating the rules for an auction for Sky. In other words... bloomberg.com/news/articles/β¦ w/ @anoushasakoui
Who will win the auction for Sky? Our survey gives Comcast the nod bloomberg.com/news/articles/β¦
The rules of the Sky auction are out:
- 3 rounds of bidding, all on Saturday
- Lowest bidder goes first
- Result announced Saturday evening
thetakeoverpanel.org.uk/publication/viβ¦
- 3 rounds of bidding, all on Saturday
- Lowest bidder goes first
- Result announced Saturday evening
thetakeoverpanel.org.uk/publication/viβ¦
Everything you need to know about the Sky auction πbloomberg.com/news/articles/β¦ w/ @TW_Seal
How will the Sky auction work? What comes next? Here's my take with @VonnieQuinn on @BloombergTV earlier
Get ready for 3 potential scenarios tonight in the Sky auction:
1) Disney (Fox) delivers a knockout bid
2) Comcast comes out the clear winner
3) Bids are too close to call
If it's the latter, things could get tricky...
bloomberg.com/news/articles/β¦
1) Disney (Fox) delivers a knockout bid
2) Comcast comes out the clear winner
3) Bids are too close to call
If it's the latter, things could get tricky...
bloomberg.com/news/articles/β¦
Whatever bids we get tonight, it's worth remembering this. Sky's share price was around Β£7.50 in late 2016, just before Fox first bid. It's now near Β£16. Value of the company has more than doubled. Quite extraordinary.
We have a winner.
Comcast bids Β£17.28 per share, a 17% increase on their previous bid.
Fox bids Β£15.67 per share.
Victory for Comcast, and a *huge* payday for Sky shareholders.
Comcast bids Β£17.28 per share, a 17% increase on their previous bid.
Fox bids Β£15.67 per share.
Victory for Comcast, and a *huge* payday for Sky shareholders.
Comcast lands a knockout blow on Fox for Sky. They brought the big guns πͺbloomberg.com/news/articles/β¦ w/ @gerryfsmith
We have a statement from Comcast CEO Brian Roberts on their Sky victory πbloomberg.com/news/articles/β¦
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