Murdoch given just days to make counter-bid for Sky after its offer was eclipsed by Comcast

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Wanted: Fox bid £24.5bn for Sky last month but within hours its advances had been trumped by Comcast, the owner of Universal Studios


Murdoch given just days to make counter-bid for Sky after its offer was eclipsed by Comcast

City & Finance Reporter for the Daily Mail

RupertMurdoch’s 21st Century Fox has just two days to make a counter-bid for Sky after its offer was eclipsed by a rival suitor.

The US company bid £24.5billion for the British broadcaster last month but within hours its advances had been trumped by Comcast, the owner of Universal Studios.

Comcast’s £26billion offer has been backed by Sky’s board. 

Wanted: Fox bid £24.5bn for Sky last month but within hours its advances had been trumped by Comcast, the owner of Universal Studios

Wanted: Fox bid £24.5bn for Sky last month but within hours its advances had been trumped by Comcast, the owner of Universal Studios

Meanwhile, takeover rules mean Fox has until Thursday night to hit back.

It comes after Comcast backed away from a multi-billion dollar struggle with Disney over Fox’s entertainment businesses, saying it wanted to focus instead on the battle against Disney and Fox for Sky.

The stakes are high for both suitors. Both Disney – which looks set to buy 21st Century Fox – and Comcast want to expand overseas and take on web rivals Netflix and Amazon Prime.

Disney has still not decided whether to continue to pursue the British firm, reports say.

 

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