Fox Ups Bid for Sky, Pushing It Past Comcast Offer

Mai Fyfield is viewed as one of the main architects of Sky's success

Rupert Murdoch's Inc. boosted its bid for Sky Plc, raising the stakes for Comcast Corp.to retaliate in a battle for control of Britain's top pay-TV company.

In a statement Comcast, a $155 billion U.S. cable television giant, said that its latest offer represented a premium of approximately 5.4 per cent to the 21st Century Fox offer, "implying a value of approximately..."

Of course, there's still time for Comcast to make yet another counteroffer, forcing Disney to increase its bid once more.

While 21st Century Fox shareholders are poised to meet on July 27 to discuss the Walt Disney Co.

The battle for Sky intensified on Wednesday night as Comcast raised its bid for Sky, valuing the pay TV giant at £26bn.

Should the Colts Take Anyone in the Supplemental Draft?
Two players, Grambling State RB Martayveus Carter and Oregon State LB Bright Ugwoegbu, don't have much chance to be drafted. With the Lions already down a pick, it seems very unlikely that GM Bob Quinn would spend more of his 2019 draft capital.

On this Day in 1998, Croatia Won World Cup Bronze
Bournemouth South Police said there will be three main road closures in the town centre at the end of the game. Stan Chattersley, who has lived in Bournemouth for 15 years, admitted he would not be supporting England.

Honeymooning cruisers in tragic zip-lining accident
The Israeli couple were zip-lining in Roatan, Honduras, during a port call on Royal Caribbean's Allure of the Seas. Guerrero confirmed the death of the man and that the woman had been taken by ambulance plane to the U.S.

Disney and Comcast are also locked in a separate $70 billion-plus battle to buy most of Fox's assets, which include the 39 percent stake of Sky it already owns and the rest of the company if it emerges triumphant in Britain.

The price agreed, which represents an 82 percent premium to the price of Sky's shares in December 2016 before Fox's initial offer, is at a multiple of 21 times 2017 earnings per share, Fox said. A letter sent to employees by Lachlan and James Murdoch seemed to suggest they expect the deal with Disney to close within six to 12 months following the Department of Justice's conditional approval. Although the figure now looks to be untouchable, Comcast is expected to reply with its final offer that could climb as high as $90bn.

Fox said its ownership of Sky would position the satcaster "to compete within an environment that now includes some of the largest companies in the world, but none of [which] have demonstrated the same local depth of investment and commitment to the United Kingdom and to Europe". Fox wants a deal at 14 pounds a share.

"They're way behind the curve still", said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky. The opposition has not completely subsided despite the plan to spin off Sky News.

Related news:

Hot News

isis-killer-beheading-video-story-top Ken Giles sent down to Astros' Triple-A affiliate after 9th inning meltdown
Jul 12, 2018 - 04:37
The Houston Astros won Tuesday's game against the A's in ridiculous fashion , but it wasn't all smiles for the AL West leaders. After serving as the closer on the Astros' World Series-winning team a year ago, Giles has struggled mightily in 2018.

isis-killer-beheading-video-story-top Tour de France 2018: stage three
Jul 12, 2018 - 04:16
In the intermediate sprint, Geraint Thomas ( Team Sky) took a second and increased his advantage in the GC fight. You can never tell who is going to be on a good day or not, but all in all it worked out well for us.

isis-killer-beheading-video-story-top Croatian fans unfurl banner saying ‘Thank you, Russia’ in downtown Moscow
Jul 12, 2018 - 04:02
Taking to Instagram to share a throwback picture of her man, the mum-of-one said: "This feels like yesterday..." Croatia was 6/4. Despite a valiant effort, the team will come home without the Jules Rimet trophy after losing the semi final 2-1 to Croatia .

isis-killer-beheading-video-story-top Trump lashes out at North Atlantic Treaty Organisation allies calling for increase in defence spending
Jul 12, 2018 - 03:41
Trump called Germany a rich country that could increase its defense spending immediately if it wanted to. The US is paying for Europe's protection, then loses billions on Trade.

isis-killer-beheading-video-story-top After 8-year search, Australian rangers capture massive crocodil
Jul 12, 2018 - 03:31
The post included a photo showing the crocodile tied down on a trailer with duct tape around its jaw. It is not the first time authorities have captured crocodiles in excess of four metres.

isis-killer-beheading-video-story-top Facebook respond to facing £500k fine over Cambridge Analytica scandal
Jul 12, 2018 - 03:30
According to its last results, this means that Facebook could have been hit with a maximum fine of around £1.2bn. The British findings highlight that the fallout from Facebook's Cambridge Analytica scandal is only beginning.

isis-killer-beheading-video-story-top Neville thought 3 England stars would struggle at World Cup
Jul 12, 2018 - 03:29
Despite a valiant effort, the team will come home without the Jules Rimet trophy after losing the semi final 2-1 to Croatia. If England does win it all, expect that economic boost to be wiped out with an extremely lethargic Monday.

isis-killer-beheading-video-story-top Israel will not ‘rule out’ ties with Syrian govt - Defence minister
Jul 12, 2018 - 02:09
Israeli Prime Minister Benjamin Netanyahu is set to meet with Russian President Vladimir Putin on Wednesday. The Golan Heights was illegally captured by Israel in 1967 and annexed in 1981.

isis-killer-beheading-video-story-top Pogba dedicates France victory to Thai cave survivors
Jul 12, 2018 - 01:08
The only time it happened in Belgian football was in 1986, when we finished fourth. We've been playing well, we're learning and we're all enjoying it.

isis-killer-beheading-video-story-top Royal Family steps out for Prince Louis' christening
Jul 12, 2018 - 01:00
Following the service, guests were invited to a private tea at Clarence House , home to Prince Charles and his wife Camilla . Lucy Middleton is Kate's cousin and the sister of Adam Middleton , who is one of Princess Charlotte's godparents.

isis-killer-beheading-video-story-top Jordan Henderson injury doubt for England with tight hamstring
Jul 12, 2018 - 00:53
The clash at Moscow's Luzhniki Stadium marks England's first appearance in the last four of football's showpiece tournament since 1990.

isis-killer-beheading-video-story-top Judge Doubles Down On Order To Move Manafort To New Jail
Jul 12, 2018 - 00:39
Manafort asked for the delay on the grounds he has been unable to prepare for his trial properly since being jailed. Besides those perks, Manafort also has his own bathroom and shower, and he doesn't have to wear a prison uniform.

isis-killer-beheading-video-story-top Fobbed off: woman accidentally steals auto for two weeks after key mix-up
Jul 12, 2018 - 00:27
There were papers in the glove box and cigarette butts in the ashtray, and even a set of golf clubs in the trunk. Eventually they drove over to the Wal Mart where they found the rental vehicle and called police.

isis-killer-beheading-video-story-top Former Illini star Kevin Anderson ousts Roger Federer at Wimbledon
Jul 11, 2018 - 23:59
Opening in typically dominant style, the 36-year-old Federer won the opening two sets; relinquishing a match-point in the third. Now the 32-year-old South African moves on to a semifinal against No. 9 John Isner of the USA or No. 13 Milos Raonic of Canada.

isis-killer-beheading-video-story-top Chicago native's murder in Mexico City raises crime questions
Jul 11, 2018 - 23:27
The woman was apparently struck by a stray bullet, according to the Mexico City Attorney General's Office. The gunmen were on a motorcycle and were aiming at a bouncer at a nearby bar, Mexican authorities said.