Murdoch's Fox beats Comcast with agreed $32.5 billion bid for Sky

Comcast crashes Murdoch's Sky bid

Only this time, it's not Comcast standing in the Mouse House's way, but a shareholder named Robert Weiss, who recently filed a lawsuit to stop the historic Disney-Fox merger.

The Comcast NBC logo is shown on a building in Los Angeles, California, U.S. June 13, 2018.

Fox, which owns 39% of Sky and is due to gain British regulatory clearance for the deal this week, upped its offer to £14 ($18.60) a share, from its earlier £10.75 a share. Comcast has until the end of this week to make a new offer. Sky shares fell as much as 2% as some investors had expected a higher counter fromFox, but are still trading above the latest Fox bid.

Fox will be hoping to see off competition from Comcast after a long battle to buy the remaining stake in Sky, having faced heavy scrutiny from the Government and the competition watchdog.

Britain's culture secretary has cleared the way for Twenty-First Century Fox's bid for Sky following pledges that it will safeguard the independence of Sky News.

Comcast let Fox's increased bid for Sky simmer for all of 14 hours before coming back with its own raised stakes.

All of those assets will go to Disney if it should succeed in its acquisition plans for Fox.

The contrast between Comcast's rapid reaction to Fox's improved offer on Wednesday for European pay-TV leader Sky-a counterbid the same day-and the cable giant's slow response to Disney's improved offer for the Fox assets for sale is striking.

"Disney's internal forecasts now, on the basis of the cash flows they've published for Sky, would value it at 16 pounds", he said. According to Janedis, within the first 46 days, Comcast and Fox can change the terms of their respective offers, and after that, five days of auctions with one bid per day will kick off.

Fox's long-running pursuit for all of Sky has been plagued by United Kingdom government fears over media plurality and broadcasting standards and the influence of Australian-born USA citizen Murdoch. News Corp., which is controlled by the Murdochs, withdrew its bid for Sky soon after.

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