|Bid||46.530 x 2200|
|Ask||46.540 x 1800|
|Day's range||45.980 - 47.280|
|52-week range||24.300 - 49.650|
|PE ratio (TTM)||21.50|
|Forward dividend & yield||0.36 (0.73%)|
|1y target est||45.00|
Last month, the Walt Disney Company (DIS) received federal approval from US regulators to buy a majority of the media and entertainment assets of Twenty-First Century Fox (FOXA) for $71.3 billion. Disney’s deal with Fox has raised concerns for Comcast (CMCSA), which wants Fox assets in order to fight streaming giants Netflix (NFLX) and Amazon (AMZN).
The stock of London-based Sky hit an 18-year high on Thursday after Twenty-First Century Fox (FOXA) and Comcast (CMCSA) both upped their bids to buy a 61% stake in Sky. The stock rose to 15.41 pounds that day and closed ~2.7% higher at 15.34 pounds after Comcast valued the company at ~26 billion pounds (or $35 billion). Sky stock has gone up 95% since Fox made its first bid of $15.5 billion in December 2016.
Twenty-First Century Fox (FOXA) and US broadcaster Comcast (CMCSA) are in a bidding war for London-based broadcaster and Internet service provider Sky, in which Fox already owns a 39% stake. Fox started with a bid of $15.5 billion in December 2016 for the remaining 61% stake, which was overtaken by Comcast’s higher bid of $31 billion. Fox made a higher offer of $33 billion but was outbid again by Comcast’s sweeter offer of $34 billion.
Rupert Murdoch–owned Twenty-First Century Fox (FOXA), which owns a 39% stake in Sky, finally gotten a green light from the UK (EWU) government on July 12 to buy the remaining 61% stake in the London-based pay-TV company. The Fox deal has been held up for quite some time over regulatory concerns that the tie-up would give Fox too much control over Britain’s media. The UK government thus asked Fox to sell Sky’s 24-hour news channel Sky News to a third party such as the Walt Disney Company (DIS) if it wants to buy 61% of Sky.
Comcast’s (CMCSA) offer of 26 billion pounds (or $34 billion) for a 61% stake in Sky, a London-based pay TV company, has topped Twenty-First Century Fox’s (FOXA) bid of 25 billion pounds (or $33 billion). Comcast’s new offer was ~10% higher than its previous offer of $31 billion and ~3% higher than Fox’s latest bid of $33 billion. Fox initially offered $15.5 billion in December 2016.
On July 11, media and cable giant Comcast (CMCSA) submitted a proposal of $34 billion (25.74 billion pounds) for London-based Sky. The offer came just 16 hours after rival bidder Twenty-First Century Fox (FOXA) rolled out its bid of $32.5 billion (24.5 billion pounds) for Sky, the European broadcaster and Internet service provider in which it already has a 39% stake.
On Friday, the Takeover Panel prompted more controversy over an arcane rule and its application to the battle for Sky Plc. Walt Disney Co. would acquire a 39 percent holding in the British satellite broadcaster because of its deal to buy the entertainment assets of Rupert Murdoch's Twenty-First Century Fox Inc. The thinking is that Disney's offer for the Fox package includes a bid for the Sky stake – one that all Sky shareholders deserve, not just those of Fox. In April, the panel said Disney should pay 10.75 pounds a share for Sky if the Fox takeover proceeds.
The battle between Walt Disney (DIS) and Comcast (CMSA) over 21st Century Fox (FOXA) assets has shifted to a new front: the British satellite TV operator Sky (SKYB.UK). On Wednesday, Comcast raised its offer for Sky to 14.75 pounds per share, valuing the company at £26 billion, or $34 billion. Fox’s offer valued Sky at $32.5 billion, which was 18% above Comcast’s previous bid.
The bidding war to capture the British cable operator may seem like a footnote in the larger battle to acquire Fox, but there's actually a lot at stake.
The battle for London-based pay-TV company Sky got fierce after US rivals Comcast (CMCSA) and Twenty-First Century Fox (FOXA) upped their stakes as the companies look to expand their portfolios with premium media assets. Yesterday, Comcast raised its bid to 26 billion pounds (or $34 billion) for Sky, topping the offer that Fox made on Wednesday morning.
The Zacks Analyst Blog Highlights: Union Pacific, Twenty-First Century Fox, BP, Mondelez and TOTAL
The auction for Sky Plc has become a spectacle of greed. On Wednesday, Twenty-First Century Fox Inc. made a fresh 14 pounds-a-share offer, valuing the British satellite broadcaster at 25 billion pounds ($33 billion). Sky's independent directors were right to recommend the latest offer despite it falling short of the current share price of about 15 pounds.
Rupert Murdoch’s 21st Century Fox is preparing a new bid for Sky that would value it at about £25bn in a clear sign it is committed to beating Comcast in the race to acquire the pan-European pay television ...
Merger and acquisition activities across the globe hit record highs in the first half of 2018 driven by growing ambition of American companies.
Twenty-First Century Fox (FOXA) needs investors to pay close attention to the stock based on moves in the options market lately.
In December, Walt Disney (DIS) said it was planning to buy back as much as $20 billion worth of its own shares. Disney raised its bid for Fox assets and threw in cash as well to help it ward off competition from Comcast (CMCSA). Despite the rejection of its original bid for Fox, Comcast has put on a spirited fight for the same Fox assets that Disney has also proposed to purchase.
Both Comcast (CMCSA) and 21st Century Fox (FOXA) are bidding for a 61.0% stake in European pay-TV group Sky Plc. Fox already has a 39.0% stake in the company. In early June, both Comcast and Fox received regulatory approval from the UK government to bid on the deal.