Associated PressNews

Fox plans to sell stake in Sky to Comcast for $15B

NEW YORK (AP) — 21st Century Fox will sell its remaining stake in British pay TV provider Sky to Comcast in the latest financial wrangling as Disney prepares to acquire Fox’s entertainment assets.

Over the weekend, Comcast won a rare bidding auction for 61 percent of Sky offering 17.28 pounds per share, almost 30 billion pounds ($39 billion). Fox will sell its 39 percent stake to for 11.6 billion pounds ($15.25 billion).

Last December a bidding war between Walt Disney Co. and Comcast began over Fox’s entertainment assets. Walt Disney Co. prevailed and is in the process acquiring Fox. Comcast dropped out of that contest to focus on its acquisition of Sky.

Disney says the sale will significantly reduce the amount of debt it is taking on by acquiring Fox’s entertainment assets.

Content Sponsored By:
Alto Landscaping 728×90
Glennas Pest Control 728×90
May Marketing 728×90
Tags
Greenstar Insulation 728×90
OneChiro 728×90
RSHV – 728×90 Banner
LA Home Center 728×90
RGM Marketing 728×90
May Marketing 728×90
Bayou State Roofing 728×90
Pel-State Leaderboard 728×90
Swoop 728×90
Citizen’s National Bank 728×90
Glennas Pest Control 728×90
BizProSBC
Alto Landscaping 728×90
Diamond Realty 728×90

ap_press

The Associated Press (AP) is an American multinational not-for-profit news agency headquartered in New York City that operates as a cooperative, unincorporated association. The AP is owned by its contributing newspapers and radio and television stations in the United States, all of which contribute stories to the AP and use material written by its staff journalists. Wikipedia

Related Articles

Loading...
Back to top button
Close
Close