After a bidding war over Sky plc, Comcast has successfully outbid 21st Century Fox to acquire the UK media giant for $39 billion which was clinched after an unusual blind auction through UK’s Takeover Panel that helps moderate these large scale acquisitions. Both Comcast and 21st Century Fox had to go through the Panel after neither side made a final offer. Comcast had offered $34 billion in August.
Sky is knows mainly for its sports broadcasting such as the Premier League and has 23 million customers across Europe. Sky has also backed the productions of shows for Amazon, HBO and Showtime.
Headquartered in Philadelphia, PA, USA, Comcast operates as a media and technology company worldwide through mediums such as Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. Founded in 1963, Comcast employs around 164000 employees worldwide.
Headquartered in UK, Sky plc. engages in entertainment and communications businesses and offers pay television broadcasting and home communications services, including broadband and telephone services; over-the-top subscriptions; and HD, UHD, multiscreen, line rental, second smartcard, premium HD, and mobile TV, as well as on demand services, such as Catch Up TV and box sets. Incorporated in 1988, Sky plc. employs around 30949 employees worldwide.