Top-20 Sky investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds.
Twenty-First Century Fox Inc said on Wednesday that Walt Disney Co has raised its offer for Fox assets to $38 per share, topping Comcast Corp’s $35 a share offer last week.
Fox board is set to decide whether to entertain Comcast $65 bn cash bid for New York-based media company or stick with its roughly $52 bn all-stock offer from Disney.
EU antitrust regulators have given the green light to U.S. cable company Comcast’s (CMCSA.O) plan to acquire European pay-TV group Sky (SKYB.L) without demanding concessions.
Comcast’s proposal, widely expected later in the day, will upend Fox’s $52 billion all-stock deal to be bought by Walt Disney.
At 9:55 am ET, the Dow Jones Industrial Average .DJI was up 3.68 points, or 0.01%, at 25,324.41, the S&P 500 .SPX was up 0.75 points, or 0.03%, at 2,787.60.
UK will give its verdict on Rupert Murdoch’s pursuit of Sky later, potentially paving the way for the mogul’s Twenty-First Century Fox to go head-to-head with Comcast.
Murdoch is used to getting his way at the company he built into a media empire. But a challenge to a $52 bn deal he put together 6 months ago could test his sway.
The Federal Communications Commission said in a notice Thursday that landmark 2015 U.S. open-internet rules will cease on June 11.
Shares of Twenty-First Century Fox rose almost 3% after Reuters reported that Comcast Corp was preparing an all-cash bid to rival a deal agreed late last year.
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