The Stakes Just Got Higher in the 21st Century Fox v

The offer is likely to be followed up by another from Comcast a rival bidder for Sky which screens hit shows such as Westworld

The offer is likely to be followed up by another from Comcast a rival bidder for Sky which screens hit shows such as Westworld

That is how Sky shareholders feel as Murdoch controlled 21st Century Fox raised the bidding once again for Sky, eclipsing U.S. cable network Comcast's £12.50 bid with an all cash offer of £14.

Fox offered £14 per share to value Sky at £24.5 billion ($32 billion), 12% more than Comcast's rival £22 billion offer.

"We could be seeing a bidding prioritization by Comcast for Sky over Fox, perhaps due to the fact that Comcast cannot afford both, and has to choose its battles", Cahall wrote.

The fight for Britain's leading pay-TV group is part of a bigger battle being waged in the entertainment industry as the world's media giants splash out tens of billions of dollars on deals to be able to compete with Netflix and Amazon. If true, this would be in violation of security rules and may well block - or at the very least stall - Disney's acquisition of 20th Century Fox and its precious entertainment assets.

Regulators are concerned that Fox's ownership of Sky News would give Murdoch and his family too much influence over United Kingdom media.

Under the terms of the increased 21CF offer, Sky shareholders will be entitled to receive £14 in cash for each Sky share and this increased price includes an amount in lieu of a final dividend for the financial year ended June 30, 2018. Wright's predecessor had previously indicated the deal could go through if Sky was ultimately sold to a third party, like Disney. Take a look at Sky today. Comcast's sweetened offer values Sky at £26 billion, or about $34 billion.

Murdoch owns major British newspaper titles The Times and The Sun and critics say obtaining full control also of the rolling television channel Sky News would give him too much influence in the news business. "We will be posting our offer document to Sky shareholders shortly".

Fox said the performance of Sky since 2016 justified its new bid. Comcast is said to be ready to negotiate with the feds on the number of Fox RSN's it would have to divest as some of them may overlap with Comcast's NBC Sports regional networks.

"There are enough sub-plots in the race to acquire Sky to commission a primetime drama", Salmon said.

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