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Are Comcast Buying Sky?

One News Page Staff Tuesday, 27 February 2018
Are Comcast Buying Sky?by 👨‍💻 Graham Pierrepoint

Big deals haven’t exactly been off the table in recent months – Fox has been purchased by Disney and this could herald all sorts of changes for the entertainment world as well as the general media. This means that everything on Fox’s TV network is now effectively a Disney brand – and this isn’t the only multi-corporation deal that looks set to be on the cards recently.

Sky is a major brand in the UK in terms of home entertainment and telecommunications – and it seems that Comcast, already a giant in the US, looks keen to make strides in the acquisition of the brand and its various channels. The cable operator is thought to have placed a princely $31 billion on the table – in a bid to offer a ‘better fit’ than 21st Century Fox, who have already attempted to make a 100% purchase. Comcast CEO Brian Roberts advised in a statement that Sky would be a ‘terrific fit with Comcast NBCUniversal’ – and the bid seems to have arisen shortly after British regulators attempted to halt Rupert Murdoch’s attempt to take over Sky in total, with experts advising that Murdoch’s bid for the 61% Fox doesn’t own would be unfair in terms of the influence it could bestow upon the mogul.

US cable giant Comcast in multi-billion euro bid for Sky
Watch: US cable giant Comcast in multi-billion euro bid for Sky

Comcast is a colossal brand in the US, acting as an umbrella for major TV networks such as NBC – and it seems that Roberts is keen to try and spread such influence to Europe, starting with one of the UK’s staple TV brands. Murdoch was instrumental in bringing Sky to the fore in the first place – though he has so far failed to claim complete ownership of the brand. Murdoch has, however, allowed Fox’s entertainment strand to go to Disney – as mentioned – for over $52 billion. These are hardly small numbers and pocket change we’re playing with here!

Comcast taking over Sky could mean that the brand could take over TV and communication services – and Roberts is optimistic about the future. “Adding Sky to the Comcast family of businesses will increase our international revenues from 9% to 25% of company revenues,” the CEO’s statement advises. Executives for Comcast are thus far otherwise remaining tight-lipped – as it seems that we will be waiting for official confirmation from Sky’s side of things before anything can be made more concrete. Stay tuned – as entertainment could be set to change for UK homes from here on out.

Comcast Offers to Buy Sky in $30 Billion Challenge to Fox
Watch: Comcast Offers to Buy Sky in $30 Billion Challenge to Fox

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