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Disney will support much of 21st Century Fox. We still do not know who gets the coveted Sky Pay TV provider. He has become a pearl – technologically, geographically and financially.
Benjamin Triebe, London
![Sky has turned from a mere TV operator into a media company, (Photo: Imago) [19659005] Sky went from a simple TV operator to a media company. (Image: Imago) </h2>
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The reorganization of the American media landscape has been decided. Shareholders of the 21st Century Fox media group agreed Friday to sell their company's entertainment business for $ 71.3 billion to Disney. This will put an end to an auction competition with the largest US cable operator, Comcast, who was also interested in Fox plays around film and television studios and in the network's offerings. cable. But on another front, the race continues: The future owner of UK pay TV provider Sky is still open. With Sky, the comings and goings had already started in 2016.
More customers, more profits
Sky went from a simple TV operator to a media company that is worth billion in its multinational presence, technical solutions and strategy for the two US giants. The proof was provided by the figures for the fiscal year ended June, presented by Sky on Thursday. The number of customers has increased from 0.5 to 23 million in five European countries. Sales revenue grew 5% year-over-year to 13.6 billion pounds ($ 17.7 billion), while operating profit at EBITDA increased by 9%. % to reach $ 3.1 billion. CEO Jeremy Darroch. Despite the growth, the sky does not cover the curve: operating costs, measured in proportion to the product, remained constant compared to last year and have fallen from 38% to 33% since 2014.
As open as the fight for Sky is still so Fox's approval to sell to Disney was a surprise. First, it was the favorite business of media mogul Rupert Murdoch, who controlled 17% of Fox's shares and 39% of the voting rights. Secondly, while Comcast had initially submitted a rival bid of $ 65 billion it recently refused to remedy the offer and surpbad Disney. Instead, Comcast is now focusing on the fight for Sky. For the pay-TV provider, Comcast had launched a separate bid in April and had it improved in July, giving Sky $ 34.2 billion (see chart).
But who knows the qualities of Sky better? as the shareholders of Sky? The Murdoch Fox Group, which already owns 39% of Sky, announced in December 2016 that it wanted to buy back the rest of Sky. For months, it was under the regulators' reserve because Murdoch already controls some British media, and Sky is the Sky News news channel. Finally, the approval followed recently – but since the media tycoon Comcast had already headed with the counter-offer in the parade. As part of the Disney deal, Fox has promised to transfer Sky shares in the mouse empire. Whoever ultimately holds the majority in Sky, Disney or Comcast, wants to guarantee the continued existence of Sky News for at least ten years.
Initially were four channels
Sky News was one of the company's first offerings, as Sky in 1989 as the first British satellite broadcaster with four channels began operating. In 2006, when the first offer was broadcast in HD, Sky still recorded a turnover of 4.1 billion pounds sterling, less than a third of today 's figure. This was followed not only by geographic expansion, for example by buying on the German and Italian markets in 2014, but also by the development of new services. Today, Sky is also a telecommunications company with broadband and mobile services.
Sky emerged early with technical innovations at the reception and already in 2001 he offered the function of pausing the current television show. The frequently-developed receiving platform is still considered revolutionary and appealing to competitors willing to take control of the recovery, but the content available is at least as important. Sky has made a name with the exclusive charisma of sports events and adheres to them, but also wants to defend its exclusive reputation with self-produced shows. The budget will increase by a quarter in the current year. In cooperation with the US supplier, HBO will create a first series.
Sky is in the trend, not only with the development of its own content, but also in adapting to customer requirements. Already 71% of Sky's customers use the Sky streaming service on the Internet, either in full or in addition to satellite service; the number of feeds and content downloads has more than tripled since 2015. Sky launched its own streaming service in 2012, and third-party offerings such as Netflix and Spotify will be made to its own receiving platform this year. At the same time, new offers, most of which are only launched in the United Kingdom and Ireland, are being introduced in other European countries.
The Watch Turns for Fox
This content and geographic differentiation would satisfy both Disney and Comcast. The Comcast bid evaluates Sky already very high; The price of the pay-TV provider has more or less doubled since the first Fox offer in December 2016 to £ 15. At the end of August, Fox and Disney have time to settle the offer for the 61% of Sky shares that Fox does not have yet. It remains to be seen if this would end the call for tenders: unlike the race for Fox, where Comcast's new offer seemed unjustified, ultimately putting Disney in the foreground, the cable operator does not seem to want bear this period.
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