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.


WhatsApp seeks to stem fake news ahead of Pakistan election

Updated 6 min 33 sec ago
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WhatsApp seeks to stem fake news ahead of Pakistan election

  • Pakistan’s leading English-language daily listed ten tips on differentiating rumors from fact
  • WhatsApp had come under pressure from Indian authorities to put an end to the spread of rumors

ISLAMABAD: The hugely popular WhatsApp messaging service began a week-long publicity campaign in Pakistan Wednesday offering tips to spot fake news, days before the country holds a general election.
“Together we can fight false information,” says the full-page ad in Dawn, Pakistan’s leading English-language daily, listing ten tips on differentiating rumors from fact.
“Many messages containing hoaxes or fake news have spelling mistakes. Look for these signs so you can check if the information is accurate,” it says.
“If you read something that makes you angry or afraid, ask whether it was shared to make you feel that way. And if the answer is yes, think twice before sharing it again.”
WhatsApp also announced the implementation in the country of a new feature allowing recipients to see if a message is original or forwarded.
The company had bought full-page advertising in India on July 10 after a wave of lynchings in the country were linked to viral “fake news” spread by WhatsApp about alleged child kidnappings.
WhatsApp, owned by Facebook, had come under pressure from Indian authorities to put an end to the spread of rumors, which have caused the deaths of more than 20 people in the past two months.
Millions of people use WhatsApp in neighboring Pakistan, where rumors, false information and conspiracy theories are ubiquitous. Such messages spread quickly, with no real way for recipients to check their veracity.
Pakistan also has a history of mob violence, and videos such as the murder of Mashal Khan — a journalism student accused of blasphemy who was killed by a mob in April 2017 — circulate rapidly.
Parliamentary elections are scheduled for July 25.