& cplSiteName &

Comcast Bids $31B to Steal Sky From Fox, Disney

Mari Silbey

BARCELONA -- MWC 2018 -- Not content to get outbid by Disney for parts of 21st Century Fox, Comcast is now looking to swoop in and take over Sky, the UK service provider that Fox is supposed to claim full ownership of before Disney's acquisition of Fox goes through.

Comcast Corp. (Nasdaq: CMCSA, CMCSK) had been competing for a larger slice of the Fox assets, but when it lost out to Disney, it apparently didn't give up on its ambition to take over Sky (NYSE, London: SKY). (See What If Disney & Comcast Split for Fox?)

The US cable giant has announced a formal cash proposal to acquire Sky in a deal that values the company at $31 billion. That bid offers a 16% premium over the amount 21st Century Fox has already agreed to spend in its proposal to take over Sky.

So why is Comcast so interested in a service provider all the way across the proverbial pond? In a word: scale. The addition of Sky would give Comcast 50 million customers globally and a chance to extend both its consumer and technology presence far beyond its US home, where regulators are unlikely to let the cable market consolidate much further. Comcast has been clear for years that it wants to expand internationally, and Sky has a presence in the UK, Ireland, Germany and Italy. (See Comcast Eyes Global Moves, BYOD & More.)

On the video front, Comcast would also gain Sky's Now TV OTT service. That has interesting implications for how Comcast might pursue video distribution in the future. At the moment, Comcast does not deliver video to customers outside its footprint over the Internet in the US.

This story is developing. More coverage to come.

— Mari Silbey, Senior Editor, Cable/Video, Light Reading

(1)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
User Rank: Light Sabre
3/6/2018 | 1:54:32 PM
The Sky's The Limit?
Loaded with money it looks like Comcast will attempt to expand with the acquisition of 50 million more customers not to forget the growth possibilities in the UK, Ireland, Germany and Italy, which will certainly go no where but up.
Featured Video
From The Founder
John Chambers is still as passionate about business and innovation as he ever was at Cisco, finds Steve Saunders.
Flash Poll
Upcoming Live Events
September 12, 2018, Los Angeles, CA
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
Telecom Jargonosaurus Part 1: Repeat Offenders
Iain Morris, News Editor, 7/13/2018
Broadcom Buys CA – Huh?
Mitch Wagner, Executive Editor, Light Reading, 7/11/2018
Verizon Taps Malady as Acting CTO
Dan Jones, Mobile Editor, 7/12/2018
Netflix Is Growing, but Don't Ask by How Much
Phil Harvey, US News Editor, 7/16/2018
FCC's Rosenworcel: US 'Falling Behind' on 5G
Iain Morris, News Editor, 7/13/2018
Animals with Phones
Casual Tuesday Takes On New Meaning Click Here
When you forget your pants.
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed