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Comcast is set to own all of Sky as Fox sells its stake for $15 bn

Comcast is set to own all of Sky as Fox sells its stake for $15 bn

The summer’s Fox / Comcast / Disney drama came to an extremely close last week as Comcast finally plans to outbid 21st Century Fox for a dominating stake in European TV and the well known broadband provider Sky for a whopping price of $38.8 billion. And after having lost the battle, Fox is planning to sell its remaining 39 percent ownership to Comcast in a deal worth $15 billion which would see Comcast getting complete control of the UK telecom company, according to a report by Variety.

From a long time, Fox had been planning to get full control of Sky — Fox’s existing 39 percent stake along with the the intended remainder of the company was planned to be added as part of the deal with Disney — but it actually ran into a very competing bid from Comcast, which is also said to one-up the House of Mouse in buying Fox. Finally, it looks like the two major corporations are set to split the prize: Disney managing to outbid Comcast for Fox, and on the other hand Comcast buying Sky from Fox (and, hence, Disney).

Sky is crucial for each of the companies in what it actually represents — an existing distribution network for a large part of the European market, which the US-based company Comcast (that owns NBC and Universal) as well as Disney are both looking forward to as they plan for expansion of their content into a few more markets.

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