Sky Bidding War Comcast has formalized its bid for Sky, which it first revealed back in February. The move, at £12.50 per share, led Sky to withdraw its recommendation of 21st Century Fox's rival bid, which was only £10.75 per share. We may now see a bidding war evolve, as the news of Comcast's formal offer sent Sky's shares up to £13.59. BBC
Comcast vs. Disney Comcast's counteroffer to Disney's bid for 21st Century Fox's entertainment assets is real and imminent. Comcast says it is "considering, and is in advanced stages of preparing, an offer for the business that Fox has agreed to sell Disney…Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney." According to the BBC, it's unlikely that Comcast will move until a judge rules on the U.S. government's suit to block the Time Warner-AT&T merger. BBC
Comcast vs Disney Comcast's bidding war with Walt Disney for most of 21st Century Fox is finally on, in the wake of the ruling that cleared AT&T's takeover of Time Warner (Fox's board had previously been wary that antitrust regulators might nix a Comcast takeover.) Comcast made its $65 billion cash offer yesterday, at a premium of 20% to Disney's all-stock offer. The Wall Street Journal reports that Disney is organizing financing in case it needs cash to counter Comcast's offer. WSJ
Comcast Responds Although 21st Century Fox yesterday said it had secured a deal for the takeover of European broadcast giant Sky, rival bidder Comcast is not giving up. Comcast has raised its bid to outstrip Fox's, and now it claims that Sky's independent committee of directors has recommended its approach. Comcast's bid values Sky, which has 20 million subscribers in Europe, at $33 billion. BBC
Comcast and Amazon Amazon's Prime Video service will be made available on Comcast's Xfinity X1 set-top box later this year. It's a risky move for Comcast, as its customers will be able to buy a-la-carte subscriptions for channels such as HBO, Cinemax and Showtime without purchasing an add-on to their cable subscription. Fortune
Sky and Comcast Sky has recommended that its shareholders immediately accept a $40 billion takeover offer from Comcast, rather than rival bidder 21st Century Fox, which bid $3.6 billion less. This has been a lengthy, three-round auction. Sky independent committee chair Martin Gilbert: "We consider the Comcast Offer to be an excellent outcome for Sky shareholders, and we are recommending it as it represents materially superior value. We are focused on drawing this process to a successful and swift close and therefore urge shareholders to accept the recommended Comcast Offer." CNBC
Pension Plans, Insurance Companies Drive $27 Billion Comcast Bond Deal https://www.institutionalinvestor.c... Companies Drive 27 Billion Comcast Bond Deal