Comcast beats Fox in Sky auction with $39 billion bid

An auction lasting a maximum of three rounds will take place September 22, the Takeover Panel announced in a statement, should the US media giants not table final offers by late September 21. (AFP)
Updated 23 September 2018
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Comcast beats Fox in Sky auction with $39 billion bid

  • Sky is currently trading at $20.57 a share — above Comcast’s latest offer price of $19.14
  • Sky’s subscription base of 23 million and rights to English Premier League football make it one of Europe’s most profitable and powerful TV companies

LONDON: British regulators said Comcast had beat 21st Century Fox in a rare auction that allowed both sides to bid for European broadcaster Sky.
After three rounds of bidding behind closed doors, Comcast offered the higher price of 17.28 pounds ($22.58) per share, the equivalent of nearly 30 billion pounds ($39 billion). Fox offered 15.67 ($20.47) per share.
The regulator, the Takeover Panel, set up the auction to reduce uncertainty for Sky. It now gives Sky shareholders a firm bid to evaluate after Fox and Comcast engaged in a series of counteroffers.
Fox had long been trying to acquire the 61 percent of Sky it doesn't already own. Comcast wants to grow its operations in Europe.
Sky is Europe's largest pay-television operator, with 22.5 million customers in seven countries.


Karl Marx memorial vandalized in London for second time

The bronze bust on top of the monument at the tomb of German revolutionary philosopher Karl Marx, a Grade I-listed monument, is seen in Highgate Cemetery in north London on February 5, 2019. (AFP)
Updated 5 min 32 sec ago
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Karl Marx memorial vandalized in London for second time

  • German revolutionary philosopher Marx moved to London in 1849 and lived in the city for the rest of his life

LONDON: The memorial of German philosopher Karl Marx has been vandalized in London for the second time in two weeks, the cemetery that manages the site said on Saturday.
The words “architect of genocide,” “terror and oppression” and “mass murder” were written in red paint on the grave in the capital’s Highgate cemetery.
“Doctrine of hate” was also scrawled on the memorial, among other slogans.
The grave of Marx, who developed the theory of international communism, was also attacked on February 4 when it was seemingly struck several times with a blunt metal instrument.
A marble plaque with the names of Marx and his family — the monument’s oldest and most fragile part — was repeatedly hit.
“Vandals back at Marx Memorial, Highgate Cemetery. Red paint this time, plus the marble tablet smashed up,” tweeted Highgate Cemetery on Saturday alongside photos of the memorial covered in red paint.
“Senseless. Stupid. Ignorant. Whatever you think about Marx’s legacy, this is not the way to make the point,” it said.
German revolutionary philosopher Marx moved to London in 1849 and lived in the city for the rest of his life.
His theories became the basis for communism. He died on March 14, 1883, aged 64.
The granite slab monument in north London, 12 feet (3.7 meters) tall and topped with a bronze bust of Marx, was funded in 1956 by the Communist Party of Great Britain.