Sky Share Discussion Threads

[hades1] 07/8/2018 18:38

Just been picked up by news wires

21st Century Fox Makes Formal Offer for Sky in Bidding War Against Comcast
21st Century Fox said Tuesday that it has posted its offer document to shareholders of British pay-TV operator Sky, as it aims to win out over a higher bid from Comcast.
Fox said that after receiving clearance from British regulators, it has now made its 14 pounds-a-share ($18.13) offer formal.
The deal is dependent on acceptances representing 75% of Sky shares that Fox doesn't currently own. Fox already has a 39% stake in Sky. However, Fox said it reserves the right to reduce the acceptance condition to a level not less than a simple majority of all Sky shares.
Sky had received a GBP14.75 a share offer from Comcast, valuing the company at $34 billion, and a 5% premium to Fox's bid. Comcast's latest offer was recommended by Sky's independent directors, who withdrew their earlier support of the Fox bid.
Sky shareholders have until Aug. 22 to accept or reject the Comcast bid.
Shares in Sky closed up 0.3% at GBP15.20 on Tuesday.

Write to Adam Clark at [e-mail]

[hades1] 07/8/2018 18:08

Twenty-First Century Fox Inc Posting of Offer Document
Disney are buying themselves more time and shareholders should not agree to any offers yet!
Now Comcast are under time pressure with their offer deadline - its clever.
It’s an important game play.
Trying to get Comcast to put their best offer on the table first.
The bidding war is just beginning

[stevesold] 01/8/2018 13:57

Thanks 4 that

[bouleversee] 01/8/2018 11:21

My broker has sent me details of the Comcast 14.75 offer and asked if I want to accept or not, the default option being "Do not accept", deadline l7 August. With the share price currently at getting on for 15.20, it wouldn't make any sense to accept at this moment. Better to sell in the market if you think there is a danger of the whole thing collapsing but as there is still a possibility of a higher offer, wait and see would seem to be the best option. If you accepted the Comcast offer, I think you would be committed to that even if there were subsequently a higher offer whereas if you do nothing and the Comcast offer ends up being the one the SKY board recommends, as I understand it you still get the chance to take it up within a limited time period from the board recommending it and its being approved.


If I have not understood this correctly, doubtless more experienced investors will correct me. Anyway, no hurry to send anything back till all is clear.

[stevesold] 01/8/2018 10:51

So are you saying, I don't need to return the acceptance document?

[stevesold] 31/7/2018 22:09

Thanks, I had intended to hold on for a few weeks.

[bouleversee] 31/7/2018 21:46

And if he doesn't and they get enough acceptances for the offer to go through, youll still get a chance to climb on board at the offer price so what have you got to lose by hanging on till such time as that happens or a higher offer is made?

[stevesold] 31/7/2018 19:01

Was hoping for a bit more. lol

[bouleversee] 31/7/2018 14:02

Why indeed?

[stevesold] 31/7/2018 13:12

Maybe posting this in the wrong place, but here goes, this is the first time Ive been confused with a stock.
Why would you accept the offer, when you can get a better price on the market.

[hades1] 28/7/2018 17:38

WSJ Today - Disney in my view will be back as they need Sky's expertise in their OTT platform and satellite distribution.The fate of the pay-TV operator remains the biggest question. Fox wants to consolidate its ownership of Sky ahead of the Disney deal, but Comcast currently leads the bidding at $34 billion.Disney executives, who have the final say on whether Fox continues its pursuit of the remainder of Sky, have indicated they will resist a "split the baby" scenario that cedes it to Comcast. Resolving the Sky portion of the deal with Comcast isn't a condition of the deal closing.Even without Sky, acquiring Fox would make Disney -- already the world's largest entertainment company -- a significantly bigger force at a time of unprecedented box-office success for the company.But Disney has had to learn quickly how to navigate a media landscape redefined by newer tech rivals like Netflix Inc. and Amazon.com Inc. In the past several years, direct-to-consumer offerings like Netflix have reoriented entertainment customers away from movie theaters and traditional cable bundles, which drove Disney's ESPN division to billion in profits.Disney plans to use the Fox library and majority ownership of Hulu to bolster its own plans to launch a streaming service in late 2019, piping the company's "Star Wars" and Marvel Entertainment programming straight into the home.Disney CEO Bob Iger made the direct-to-consumer strategy his core focus at the company in 2017, and then decided to pursue the Fox acquisition because it would bolster that effort, according to people familiar with his thinking. Though Mr. Iger built Disney through acquisitions like Pixar Animation Studios and Lucasfilm Ltd., the Fox merger is his priciest deal by far.With the deal one step closer to completion, the rest of Hollywood is figuring out how to compete against the newly formed monolith.Netflix has announced it will spend more than $8 billion on programming this year, a way for it to plug some of the hole left by the Disney-Fox movies and television shows that will leave the service when Disney's competing service launches. AT&T Inc.'s acquisition of Time Warner Inc. has many media executives expecting other platform providers to try to marry distribution with production.Write to Erich Schwartzel at [e-mail] and Keach Hagey at [e-mail]

[n0rbie] 28/7/2018 16:56

A few outlets are commenting that Disney may sell Fox's Sky stake to Comcast, rather than overpay for Sky. Bob Iger is a very shrewd CEO, having purchased Pixar, Marvel & Lucasfilm. He has made some very flattering comments about Sky but he will not overpay.

[bouleversee] 27/7/2018 09:53

Unfortunately, my crystal ball got broken.

[hades1] 27/7/2018 02:26

End game bid price?
My guess is £16.50 but its more than possible it could go much higher if both continue to play?

[hades1] 26/7/2018 07:11

They are good!

[n0rbie] 12/7/2018 12:11

Fair play, I called that one wrong. Fox / Disney to come back again I reckon...

[danieldanj] 12/7/2018 01:53

Sky Plc (SKY) News out just now

[rogthepodge] 12/7/2018 00:08

slowly but surely.......

[nk104] 11/7/2018 23:54

Telegraph reporting that Comcast offering £14.75 a share.

[rogthepodge] 11/7/2018 09:45

Oh yeah?

And it's 21CF which has made the offer of £14