Post by Carl LaFong on Apr 25, 2018 11:20:00 GMT
www.bbc.co.uk/news/business-43891132
Enjoy your increased subs!
US cable TV giant Comcast has made a formal £22bn bid for Sky, which values the broadcaster at £12.50 a share.
The move threatens Rupert Murdoch's attempts to take full control of the pay-TV group.
His 21st Century Fox had already agreed to buy the 61% of Sky it does not already own, an offer worth about £19bn.
After the new Comcast move, Sky said it was withdrawing its recommendation for the Fox bid.
"The Independent Committee of Sky welcomes today's announcement by Comcast of its firm intention to make a £12.50 per share pre-conditional cash offer for Sky," it said.
"As a result of the announcement of this higher cash offer, the Independent Committee is withdrawing its recommendation of the offer announced by 21st Century Fox on 15 December 2016 and is now terminating the co-operation agreement entered into with 21st Century Fox on the same date."
The move threatens Rupert Murdoch's attempts to take full control of the pay-TV group.
His 21st Century Fox had already agreed to buy the 61% of Sky it does not already own, an offer worth about £19bn.
After the new Comcast move, Sky said it was withdrawing its recommendation for the Fox bid.
"The Independent Committee of Sky welcomes today's announcement by Comcast of its firm intention to make a £12.50 per share pre-conditional cash offer for Sky," it said.
"As a result of the announcement of this higher cash offer, the Independent Committee is withdrawing its recommendation of the offer announced by 21st Century Fox on 15 December 2016 and is now terminating the co-operation agreement entered into with 21st Century Fox on the same date."
