Comcast ups Sky bid to $34 billion, escalating battle with Rupert Murdoch - http://earlyretireonline.com | how to earn money fast

July 12, 2018 10:09 am
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Comcast To Bid For Sky TV

Comcast has upped its bid for Sky in the latest movie in its war with Fox.

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Comcast reportedly increased its bid for Sky to $34 billion Thursday, topping Fox’s $32 billion offer.

The quick counteroffer suggests that the war to seize control of Britain’s biggest pay-TV company is heating up, since the previous bid was $31 billion from Comcast in April.

The increased pace of bidding caused Sky shares to rise 3.2 percent in London Thursday, with investors anticipating further bids, Bloomberg reports.

Neither Comcast nor Sky immediately responded to requests for comment.

Fox already owns 39.14 percent of Sky, but this effort to get a stronger hold on its entertainment assets is an element of Disney’s possible $71.3 billion Fox takeover.

In the US, it has been in a separate bidding war with Comcast — the nation’s largest cable TV provider — to buy 21st Century Fox’s film and TV studios.

Fox owns major franchises including X-Men, Deadpool, Kingsmen and Planet of the Apes. It also owns animated films such as Ice Age and TV assets including The Simpsons and network FX.

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