Comcast drops 21st Century Fox bid to refocus on the pursuit of UK pay-TV firm Sky
Comcast's move leaves the field clear for the Walt Disney Company’s £71.3bn bid to win control of a swath of Rupert Murdoch’s Fox media assets
Company
Comcast Corporation
NASDAQ:CMCSA
Comcast Corporation is a global media and technology company. The company provides broadband, wireless and video through Xfinity, Comcast Business and Sky; produce, distribute, and stream entertainment, sports, and news through brands, including NBC, Telemundo, Universal, Peacock and Sky; and brings theme parks and attractions to life through Universal Destinations and Experiences. Comcast Corp operates through two primary businesses, namely Connectivity & Platforms and Content & Experiences
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UK Takeover Panel rules Disney would need to make minimum bid of 1,400p per share for Sky
The UK Takeover Panel ruled Walt Disney would need to make a minimum bid of 1,400p per share for Sky if it succeeds in its bid to buy Twenty-First Century Fox
Investments and investor services
FTSE 100 firms on Friday as Trump's UK visit dominates headlines
In the currency markets, the pound gained 0.07% against the Euro and was up 0.11% against the US dollar
Sky up as investors bet Comcast's raised bid won’t be the last move in the battle with Fox
In early morning trading on Thursday, Sky shares were 2% higher at 1,524p, comfortably above the agreed Comcast cash offer pitched at 1,475p per share, and Sky’s previously agreed bid of 1,400p a share
Comcast bids $34bln for Sky, tops Fox’s offer
Comcast announced its cash offer has been recommended by Sky’s independent committee of directors and that it has committed financing required for the deal.
Sky bid saga continues as satellite broadcaster agrees to increased £24.5bn Fox offer
Fox’s new cash bid of 1,400p a share is an increase on its 1,075p per share agreed bid made in December 2016 and tops a rival 1,250p per share offer from Comcast Corp
FTSE 100 tumbles 1.3% lower as trade worries grip markets
The UK blue chip index dropped 100 points after the US said it was ready to impose tariffs on an extra US$200bn worth of Chinese goods
Sky higher on report Fox preparing new £25bn bid to top Comcast’s offer for the satellite broadcaster
The Financial Times said Fox’s new offer is expected to be at a premium to Comcast’s most recent bid of 1,250p a share, well above its 1,075p a share initial bid made in December 2016
Investments and investor services
FTSE 100 closes higher but off 6,700
The UK blue-chip benchmark closed around four points higher at 7,692
World Wrestling Entertainment lands a heavyweight deal for Raw and SmackDown
The five-year agreement with USA Network and Fox Sports triples the terms of the previous deal
Walt Disney ups earnings forecasts for Sky while hedge funds pressure regulator to up bid price
In an SEC filing on Tuesday, Disney said it expected Sky to make underlying earnings of £3.06bn in the year ending June 30 2020, up from its original forecast of £2.41bn
Dow jumps more than 100 points and breaks its 8-day losing streak
Oil giants Chevron and Exxon Mobil Corporation were the best-performing stocks on the Dow
Nasdaq posts a record close as media stocks continue climbing on merger talk
The Dow fell around 20 points as a decline in financial stocks overshadowed Walt Disney's gains
Clash of the (media) titans: What drove the Fox, Comcast, Disney bidding war over Sky?
What started out as a seemingly mundane takeover of the British broadcaster escalated into a massive bidding war between three media giants, but how did it get to that point?
Comcast trumps Disney with US$65bn cash bid for chunk of 21st Century Fox's assets
The new offer eclipses Disney's US$52.4bln all-stock deal
H&R Block shares roll much lower in pre-market, but Twenty-First Century Fox leaps
Also in the frame before the bell were telecoms firms Comcast Corp and Chinese telecoms ZTE Corp
21st Century Fox bid battle could kick-off after key US court ruling approved another mega-takeover
On Tuesday, a US Federal judge ruled that telecoms giant AT&T Inc. can proceed with its near US$85bn acquisition of Time Warner Inc, which traders believe will give a greenlight to other big deals
Comcast set to get 'unconditional' EU approval for Sky bid
The cable giant is reportedly offering US$31bn to buy the pay-TV channel while competing with Rupert Murdoch’s 21st Century Fox Inc
SeaChange International beats earnings estimates despite double-digit drop in revenue
The telecom company develops digital video systems for customers like the BBC and Comcast
Comcast preparing 21st Century Fox bid, to top Walt Disney's US$52.4bn offer
In a statement following media reports, Comcast said: "Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney"