Comcast battle to buy Sky to be settled by auction in UK

Sky is at the centre of a bidding war between three global corporations all intent on snapping up the satellite broadcaster

21st Century Fox and Comcast hope to settle their struggle for Sky in an auction starting Friday after almost two years of competing for the London-based telecommunications company, but the situation may already be a win-win for Fox.

The Takeover Panel said the auction would start, assuming that a competitive situation continues to exist, at 1700 London time on Friday and end on the evening of Saturday, with a maximum of three rounds.

The Takeover Panel said the first round of the auction will take place on Saturday, with Fox firing the gun on proceedings, as it now has the lowest bid.

Comcast now has the upper hand in the bidding war after it made a 14.75 pound a share offer for Sky in July, which trumped an earlier 14 pound a share bid by Fox. Murdoch already has a 39% stake in the business. The battle is part of a larger contest between Disney and Comcast to take over many of Fox's media and entertainment assets.

Fox's sale of its film and TV assets to Disney will only include its stake in Sky in the event that its bid to assume full control of the British broadcaster is not accepted.

If the Fox offer tops Comcast's current high bid of $19.50, the cable operator, in a second round, will be able to submit an even higher price.

The news follows a report by Bloomberg that the takeover battle for Sky SKY-GB would likely be transferred to an auction.

Goodyear to come as original equipment tire to Audi’s first electric SUV
An official range estimate in the US will be available closer to launch next year, an Audi of America spokesman said. The electric SUV is the first created to use an emerging network of lightning-fast 150-kilowatt public EV chargers.

Bill Belichick says he won't answer questions about Josh Gordon's substance issues
Later that day, Gordon was on the practice field, which meant he was - without question - on the Patriots' roster. Gordon is officially questionable for Sunday night's game at the Detroit Lions. "Josh is a smart kid".

US Air Force seeks sharp growth to stay ahead of…
The last time the USA created a new military service was in 1947 when the Air Force was established as an independent service. The US Air Force has led the Armed Forces in establishing America's space capability such that it is unrivaled in the world.

It marks a fitting end to a fascinating takeover, though, which has taken many twists and turns since Fox first made its original £11.7 billion bid in December 2016.

An auction for Sky, which broadcasts to 23 million households across Europe, would be the biggest ever deal in the United Kingdom to be decided by a panel-run auction.

The auction begins at 1600 GMT on Friday, Sept. 21. They would not be bidding blind and would know the outcome of the first round, a source with direct knowledge of the situation said.

The takeover of broadcaster Sky will be settled by an auction, the UK's Takeover Panel has announced.

In the second round only the other suitor, now Comcast, would be allowed to increase their offer.

Sky, Fox, Comcast, and Disney, now in discussions to purchase Fox's film and TV assets, have each agreed to the auction terms provided by TP's statement.

For Comcast, Sky offers a chance for growth - a company with proven quality in sports and entertainment together with the technology to deliver it.

Related News:

  • How major U.S.  stock indexes fared Thursday

    How major U.S. stock indexes fared Thursday

    Norway's krone retreated as investors saw the central bank's rate trajectory as dovish, while the Swiss franc strengthened. The Organization of Petroleum Exporting Countries and its allies meet in Algiers this weekend.

    Octopuses on MDMA act high just like HUMANS

    In particular, the transporter that binds the neurotransmitter serotonin is almost identical between humans and O. bimaculoides . The research was carried out to study whether an octopus's behaviour would change after consuming ecstasy.
    Mohamed Salah: Liverpool boss Jurgen Klopp not expecting goals repeat

    Mohamed Salah: Liverpool boss Jurgen Klopp not expecting goals repeat

    Salah has started every game for Liverpool this so far this season, recording two assists in addition to his two goals. He had fantastic offensive situations in both of the last games and he is in a good shape, actually.
  • 2 detainees drown as van swept into floodwaters in SC

    2 detainees drown as van swept into floodwaters in SC

    A spokeswoman for the sheriff's office would not say which deputy was driving the van. This incident is being investigated by the State Law Enforcement Division ( SLED ).
    Tour Championship hopefuls offer support of 2019 FedEx Cup changes

    Tour Championship hopefuls offer support of 2019 FedEx Cup changes

    The FedEx Cup champion will now bank $US15 million, versus the $US10 million prize from previous years. TV ratings and fan interest spike whenever he's playing and in the mix.
    1st private moon flight passenger to invite creative guests

    1st private moon flight passenger to invite creative guests

    He drew attention a year ago with the purchase of a Jean-Michel Basquiat painting for $110.5 million. SpaceX has finally revealed its first space tourist that will circle the moon in the near future.
  • How Ecuador, Russia Planned To Help Julian Assange Escape From UK

    How Ecuador, Russia Planned To Help Julian Assange Escape From UK

    US President Donald Trump faces an investigation into whether his campaign colluded with Russian Federation to win that election. Assange denies receiving the emails from Russian Federation , but has not ruled out having obtained them from a third party.
    Nokia 7.1 Plus With A Display Notch & ZEISS Optics Surfaces

    Nokia 7.1 Plus With A Display Notch & ZEISS Optics Surfaces

    The new Nokia 5 .1 Plus was announced last month in India, however, the company didn't reveal the price tag. Nokia 7.1 Plus will again feature the same Carl Zeiss lenses with a single camera lens on front.
    Man Utd boss Mourinho takes fresh shot at Pochettino's Tottenham

    Man Utd boss Mourinho takes fresh shot at Pochettino's Tottenham

    Wednesday night saw United get their Champions League campaign off to a good start, beating Swiss champions Young Boys 3-0 away from home.
  • Here's what to expect — Amazon Echo event

    Here's what to expect — Amazon Echo event

    It also requires an iOS device to complete set-up, but it does offer the richest sound of all the smart speakers featured here. Finally, a microwave that can communicate wirelessly to my Amazon Echo! The AmazonBasics Microwave is available for preorder.
    Amazon's latest devices put Alexa anywhere and everywhere

    Amazon's latest devices put Alexa anywhere and everywhere

    They're also among the most expensive of the new Echo devices, at $199.99 and $299.99, respectively, but neither is on sale yet. This means you don't need to buy specific appliances to have voice control, which could have a huge impact on consumers.
    Gunmen attack military parade in Iran's Ahvaz

    Gunmen attack military parade in Iran's Ahvaz

    Some images show bloodied soldiers in military fatigues, and ambulance sirens can be heard wailing in the background. The semiofficial Fars news agency said two gunmen on a motorcycle wearing khaki uniforms carried out the attack.


Most liked

New 'Ralph Breaks the Internet' trailer introduces Gal Gadot's character
Henson ), a glitchy search engine named KnowsMore (Alan Tudyk), and an edgy street auto driver, Shank ( Gal Gadot ). Directed by Rich Moore and Phil Johnston , Ralph Breaks the Internet opens in the United States on 21 November .

OnePlus serves up delicious Pie to OnePlus 6 owners
It also brings Android Pie based gesture navigation, DND mode with adjustable settings and the new August Security Patch. The smartphone player is also looking to bringing Android P to its predecessor OnePlus 5T and OnePlus 5 as well.

Arizona Rep. Gosar's 6 siblings publicly endorse his opponent in ad
Paul is also said to be a birther who believes that financier and Holocaust survivor George Soros collaborated with the Nazis. It's hard to get six siblings to agree on anything. "This is serious stuff, and I'm exhausted of people making light of it".

Trump challenges Kavanaugh accuser over account of sex attack
Earlier today, Grassley said that the Senate Judiciary Committee would vote on Monday if no deal is reached by 10 p.m. on Friday. He also claimed Judge Kavanaugh was "under assault by radical left wing politicians who don't want to know the answers".

Tesco launches discount store Jack's to take on Lidl and Aldi
Workers unveil the branding at Tesco's new discount supermarket Jack's, in Chatteris, Britain, September 19, 2018. Sainsbury's and Walmart-owned Asda, meanwhile, are trying to improve their fortunes with a planned merger .

Syria’s Assad blames Israel over downing of Russian plane
Despite calling it a "friendly fire" incident, the Defense ministry held Israel responsible. However, it was "extensive and inaccurate" Syrian ground fire that downed the Russian plane.

Florence death toll rises to 43 as floods wreak havoc in Carolinas
Aerial view of farms flooded after the passing of Hurricane Florence in eastern North Carolina on September 17, 2018. Additionally, the Carolina Panthers staff and players will engage in direct service projects for impacted areas.

Timberwolves owner Glen Taylor reacts to Jimmy Butler situation at owners’ meetings
Butler has clashed with Towns and Wiggins as teammates, league sources said. It's a double-edged sword for the Minnesota front office.

Pixel 3 XL's Ugly Looking Notch Sports Dual Front Cameras & Secondary Speaker
The listing shows some renders of both the smartphones which showcase the design of both Pixel 3 and Pixel 3 XL smartphones. Apart from that, he also gives us a look at a new Mint coloured power button on the White colour variant of the Pixel 3 XL.

China says US has ‘no right’ to interfere in Russia military cooperation
The official, speaking to Reuters on condition of anonymity, insisted that the sanctions were aimed at Moscow, not Beijing. While implementing the sanctions, Washington also added 33 Russians to the blacklist, bringing the total number to 72.

High sugar content makes supermarket yogurts an unhealthy choice
If you look at the sugar content of some yogurts in the supermarket, you might mistakenly think you're in the dessert aisle. Britain has been trying to reduce the amount of sugar in foods as one tactic to combat rising obesity in the country.

Priyanka Chopra and Nick Jonas wear Indian dress for engagement party
Chopra kept it traditional in a beige net saree by the designer and beau Jonas too opted for a black bandhgala by Malhotra. The party, a star-studded affair, was attended by Karan Johar , Ranbir Kapoor, Gauri Khan, Sachin Tendulkar, etc.

Anthony Joshua weighs in nearly two stone heavier than Alexander Povetkin
The fight has a reported £26m purse with Joshua expected to take home up to £20m while Povetkin will receive £6m. Wilder has 39 knockouts in 40 fights and has scored knockouts in each of his previous seven title defenses.

IPhone XS, XS Max Teardowns Reveal Chips From Intel and Toshiba
Likewise, a 256GB XS is now 9,560 yuan while the 512GB model is 11,150 yuan, down 5.3% and 6.3% respectively. It's that time of year again where people queue up to buy the new phone from a company named after a fruit.

'Village Rockstars' by Rima Das is India's official entry for Oscars 2019
She added that all the actors in the film, except renowned Assamese actor Kulada Bhattacharya, belong to her village. Rima Das had earlier told The Indian Express , "I did not have any storyboard for Village Rockstars ".