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.


Apple to roll out new Snoopy, Peanuts cartoon series

Updated 9 min 47 sec ago
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Apple to roll out new Snoopy, Peanuts cartoon series

  • The agreement between Apple and DHX Media is another example of the Apple brand’s ambition
  • The commitment is for DHX to produce a new animated series, specials and short programs around the Peanuts gang, a bunch of kids with the dog Snoopy.

NEW YORK: Apple will produce a new animated series starring Snoopy and the Peanuts gang, created by the late American cartoonist Charles Schulz, for its video platform, a source close to the deal said Friday, confirming press reports.
The agreement was reached with Apple, “in a highly competitive environment” and at the expense of other candidates, with the Canadian group DHX Media, which holds 80% of the rights of Snoopy and Peanuts, said the source.
DHX bought this stake, as well as rights to Peanuts gang member Peppermint Patty, for $345 million in 2017.
The commitment is for DHX to produce a new animated series, specials and short programs around the Peanuts gang, a bunch of kids with the dog Snoopy.
The Canadian group will also create educational programs including the Peanuts gang, exclusively for Apple, around space and the conquest of space.
The agreement between Apple and DHX Media is another example of the Apple brand’s ambition, given the launch, announced by several media in 2019, of its own video-on-demand service offering exclusive content.
Until now, the video content available on the iTunes platform was produced by third parties and accessible one by one, not as a subscription.
Schulz wrote and illustrated the Peanuts cartoon strip starting in 1950. The final strip ran in newspapers one day after his death in February 2000, according to the Charles M. Schulz Museum.