Jul
11
Comcast Boosts Sky Bid to $34 Billion, Topping Murdoch Offer
By-
Cable giant’s latest offer is 5.4% higher than Fox’s price
- Independent Sky directors back sweetened buyout terms
Comcast Corp. increased its takeover bid for Sky Plc to $34 billion, topping an offer from Rupert Murdoch’s 21st Century Fox Inc. and escalating a global standoff between the media giants.
Comcast, the largest U.S. cable company, is now offering 14.75 pounds a share for Sky, valuing Britain’s top pay-TV provider at 26 billion pounds, according to a statement Wednesday. That’s 5.4 percent above a 14 pound-a-share proposal from Fox, which already owns a stake in the European broadcaster. Fox acknowledged the increased bid in a statement late Wednesday…
Comcast Boosts Sky Bid to $34 Billion, Topping Murdoch Offer
