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Comcast took control of Sky after an epic battle with 21st Century Fox
The American cable giant, Comcast, said on Tuesday that it was now the majority shareholder of pan-European satellite television company Sky, after buying 39% stake in 21st Century Fox in the group.
After a long battle to take control of Sky, Comcast imposes on Rupert Murdoch's 21st Century Fox.
The two American entertainment giants each wanted total control of Sky in the face of growing pressure from Netflix and Amazon on viewers.
"We are pleased to be today the majority owner of Sky," Comcast Chief Executive Officer Brian L. Roberts said in a joint statement to the London Stock Exchange.
With the acquisition of Sky, Comcast captures the broadcaster 's live rights for English Premier League football.
"We are also strongly committed to the future of Sky News, preserving its editorial independence and maintaining its strong record of reliable, reliable and high-quality information," said Roberts, referring to to the channel 24 hours a day.
Last month, Comcast successfully launched an offer of £ 30.6 billion ($ 40.1 billion, or $ 35 billion) for Sky, which has nearly 23 million subscribers in Europe.
Fox's highest bid was up to 27.6 billion pounds. The pair was eventually separated by a rare blind auction following a long bidding war.
"Comcast is committed to investing in Sky, including its … headquarters and we look forward to collaborating with Brian and the Comcast team to further growth and development of Sky's business," he said. Sky CEO Jeremy Darroch said in a statement.
"In addition, Sky News will benefit greatly from Comcast's funding commitments over the coming years and the arrangements that will be put in place to preserve and strengthen its editorial independence."
The British government's concerns about the plurality of media and broadcasting standards – and the influence of the Australian-born American citizen Murdoch – have been a drag on society for a long time.
Critics had argued that allowing Murdoch – who owns the big British newspapers The Times and The Sun – to exercise full control over Sky News would have given him too much influence over the news sector. UK.
To remedy this, Fox had proposed selling the news channel in case of a victory in the battle of takeovers.
Sky, which has changed its name to BSkyB after agreeing in 2014 to buy Sky Italia and holding a majority stake in Sky Deutschland, will withdraw its shares from the London Stock Exchange on November 7.
Comcast has also acquired Sky to locate in Europe and end its reliance on the United States at a time when Americans are turning to online streaming.
Meanwhile, Sky plans to show all of its content online, which will allow customers to dismount their satellite dishes.
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UK paves way for 21st Century Fox to buy Sky
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