UK: Comcast battles Rupert Murdoch’s Fox in US$31b bid for Sky TV

Comcast, the parent of NBC and Universal Pictures, launched a nearly US$31 billion bid for British satellite pay television broadcaster Sky, a move that could trump media mogul Rupert Murdoch’s ambition to acquire the UK media prize.

The Company would use Sky as a platform for growth in Europe, complementing its presence in London through NBCUniversal’s international operations, Comcast CEO and Chairman Brian Roberts said.

Comcast, which owns TV networks such as E! and NBC as well as Universal Pictures, said the deal represented a “strategic opportunity to acquire a leading content and distribution business in the UK and Europe.”

Roberts said in a statement “We think Sky is an outstanding company. It has 23 million customers, leading positions in the UK, Italy, and Germany, and is a consistent innovator in its use of technology to deliver its customers a great experience.

“Sky has a proud record of investment in news and programming. It has great people and a very strong and capable management team.”

Full Content: Business Insider

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