Sky’s shares grow by 9% following Comcast’s winning bid

By Bruno Reis

The Philadelphia-based telecommunications company, Comcast, has won the bid for the British media company, Sky.

Following the news, Sky’s shares have increased by 9% to hit £17.22 (US$22.60) at Monday’s early trade.

The figures almost match Comcast’s winning bid offer of £17.28 ($22.67) per share two days prior.

Comcast placed a £30bn ($39bn) bid to acquire Sky’s vital assets – 10% higher than Fox’s final offer of £15.67 ($20.56) per share.

The assets include the company’s streaming service, Now TV, and advertising technology, Adsmart.

SEE ALSO:

Fox is now considering selling it’s 39% stake in Sky to Comcast, subject to approval from Disney – which agreed to purchase the shares last year.

“This is a great day for Comcast,” stated Brian Roberts, Chairman and CEO of Comcast.

“Sky is a wonderful company with a great platform, tremendous brand and accomplished management team.”

“This acquisition will allow us to quickly, efficiently and meaningfully increase our customer base and expand internationally.”

“We couldn’t be more excited by the opportunities in front of us. We now encourage Sky shareholders to accept our offer, which we look forward to completing before the end of October 2018.”

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy