Fox Increases Sky Bid

21st Century Fox increased its offer for European pay-TV station Sky to $32.5 billion.

License Global

July 12, 2018

2 Min Read

21st Century Fox increased its offer for European pay-TV station Sky to $32.5 billion.

Fox’s new bid is now higher than the competing bid from Comcast, who outbid Fox's original offer weeks ago.

The agreement, unveiled Wednesday morning in London, includes an increased recommended pre-conditional cash offer for the fully diluted share capital of Sky which 21CF and its affiliates do not already own at a price of £14 per share of Sky (or $18.55 USD).

The acquisition remains subject to the approval of the Secretary of State in the U.K, who will announce his final decision by July 12.

Under the terms of the Increased 21CF Offer, Sky shareholders will be entitled to receive for each Sky share in cash. The increased price includes an amount in lieu of a final dividend in respect of the financial year, which ended June 30.

On Wednesday night, Comcast has counter-offered with a bid of £26 billion ($34 billion USD), or £14.75 ($19.48) per share, according to The Hollywood Reporter

About the Author(s)

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for updates directly into your inbox.




Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like