Murdoch’s Fox agrees $32.5 billion bid for Sky

Fox, which already owns 39 percent of Sky, may still face further competition from US cable giant Comcast which submitted its own bid for Sky in February. (Reuters)
Updated 11 July 2018
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Murdoch’s Fox agrees $32.5 billion bid for Sky

LONDON: Rupert Murdoch’s 21st Century Fox said it had agreed a deal to buy Britain’s Sky with an offer valuing the pay-TV group at $32.5 billion, trumping rival bidder Comcast.
Fox, which is expecting to get regulatory approval from Britain this week after striking an initial deal with Sky in December 2016, upped its offer to £14 per share, from its earlier £10.75 per share.
The price agreed, which represents an 82 percent premium to the price of Sky’s shares in December 2016 before Fox’s initial offer, is at a multiple of 21 times 2017 earnings per share, Fox said.
But Fox may still face further competition from US cable giant Comcast which submitted its own bid for Sky in February, valuing the pan European group at £12.50 per share. Sky’s shares closed at £15.01 on Tuesday, meaning shareholders may also not like the price.
Fox, which already owns 39 percent of Sky, said it had secured the agreement of the independent committee of Sky for the deal.


Trump complained to Twitter CEO about lost followers -source

Twitter CEO Jack Dorsey (L) and U.S. President Donald Trump. (REUTERS)
Updated 24 April 2019
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Trump complained to Twitter CEO about lost followers -source

  • Reuters reported in 2016 Trump had been angry with Twitter because it had rejected an advertising deal with his campaign

WASHINGTON: US President Donald Trump met with Twitter Inc’s Chief Executive Jack Dorsey on Tuesday and spent a significant time questioning him about why he has lost some Twitter followers, a person briefed on the matter said.
The meeting, which was organized by the White House last week, came hours after Trump again attacked the social media company over his claims it is biased against conservatives.
“Great meeting this afternoon at the @WhiteHouse with @Jack from @Twitter. Lots of subjects discussed regarding their platform, and the world of social media in general. Look forward to keeping an open dialogue!” Trump tweeted, posting a photo of Dorsey and others with him in the Oval Office.
Earlier on Tuesday, Trump suggested Twitter was biased against him without providing evidence. He wrote on Twitter that the company does not “treat me well as a Republican. Very discriminatory.”
Twitter said in a statement Dorsey had a “constructive meeting with the president of the United States today at the president’s invitation. They discussed Twitter’s commitment to protecting the health of the public conversation ahead of the 2020 US elections and efforts underway to respond to the opioid crisis.”
Unlike other major US tech company executives, Dorsey had not previously met with Trump.
He was not invited to a December 2016 meeting with president-elect Trump that featured other major tech companies. Reuters reported in 2016 Trump had been angry with Twitter because it had rejected an advertising deal with his campaign.
Trump has been upset about losing followers.
In October, Trump wrote that “Twitter has removed many people from my account and, more importantly, they have seemingly done something that makes it much harder to join — they have stifled growth to a point where it is obvious to all. A few weeks ago it was a Rocket Ship, now it is a Blimp! Total Bias?“
Any reduction is likely the result of Twitter’s recent moves to remove millions of suspicious accounts after it and other social media services were used in misinformation campaigns attempting to influence voters in the 2016 US presidential race and other elections, Reuters reported in October.
Shares in Twitter jumped 13 percent on Tuesday after it reported quarterly revenue above analyst estimates, which executives said was the result of weeding out spam and abusive posts and targeting ads better.
Trump lost 204,000, or 0.4 percent, of his 53.4 million followers in July when Twitter started its purge of suspicious accounts, according to social media data firm Keyhole.
Trump has one of the most-followed accounts on Twitter. But the president and Republicans in Congress have repeatedly criticized the company and its social media competitors for what they have called bias against conservatives, something Twitter denies.
Democratic US Senator Mazie Hirono said earlier this month “we cannot allow the Republican party to harass tech companies into weakening content moderation policies that already fail to remove hateful, dangerous and misleading content.”
Carlos Monje, Twitter’s public policy director, said at a Senate hearing earlier this month the site “does not use political viewpoints, perspectives or party affiliation to make any decisions, whether related to automatically ranking content on our service or how we develop or enforce our rules.”