Friday, December 9, 2016

21st Century Fox wants to swallow the Sky completely – FOCUS Online

21st Century Fox wants to swallow the Sky completely

Friday, 09.12.2016, 18:58

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media Mogul Rupert Murdoch is launching a new startup, to take on the British Pay-TV provider Sky completely.

It had made with Murdoch’s US entertainment company, 21st Century Fox a preliminary agreement on a purchase offer in the amount of 10.75 UK pounds per share in cash, told Sky on Friday. Thus, the company would be valued a total of about 18.5 billion pounds (€22.1 bn). The Deal, however, is not perfect.

Fox did not comment initially on the possible Takeover, Sky said in his message expressly, that the Statement on their own and without the consent of the purchase will be released to interested parties. To respond to the today’s share price increase. Fox already holds 39 per cent of Sky and has never made a secret of it, to want participation like to expand.


Now the US group, apparently, is almost on target. However, to be discussed according to Sky, the main conditions of the Takeover. There is no certainty that the Deal is concluded. The offer to Purchase would be equivalent to a premium of 36 percent on the Sky-closing price of Thursday. The company’s shares rose in London trading after the announcement to 30 percent. The papers from 21st Century Fox reported in the US trade, however, light losses.

Murdoch had already attempted in 2011 to take full control of Sky. Then a phone-hacking scandal had to be his media Empire belonging to the Sunday newspaper “News of the World” the Plan will fail. Under the public pressure of the scandal of intercepted phone calls and bribed police officers split Murdoch, his company News Corp in 2012 and the Film and television business was separated into the new company 21st Century Fox.

competitive pressure

In the entertainment industry, the competition is high, more and more customers migrate to the Internet, which makes to create the classic TV and movie business. The agreement between Fox and Sky follows the October decision to Mega-Acquisition of the Fox-rival Time Warner, the U.S. Telecom group AT&T for at the time, around 109 billion dollars. Both Deals are expected given the combined market power will be reviewed, which would result in the merger, precisely of the antitrust authorities.

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