Friday, January 28, 2022
33.2 F
Fort Worth

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

🕐 1 min read

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.

Related Articles

970x250_DM_Leasing

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.