British Government Gives Fox Clearance to Purchase Sky
Us Americans don’t know what Sky is, but I’ve learned it’s a huge cable company in the United Kingdom. Comcast is really wanting to purchase Sky so that they have more of a global footprint. Meanwhile, Fox is trying to get the rest of Sky. Fox currently controls about 39% of the shares and is wanting the other 61%, but Comcast is proving to be a bit of a pain. Comcast has already received approval from the British government and they just outbid Fox. However, Fox has just recently gotten clearance from the British government as well which helps level the playing field. Culture Secretary Jeremy Wright had this to say about the deal:
Wright’s predecessor, Matt Hancock, wanted some terms between Disney and 21st Century Fox to be improved before the deal went through and it looks like everything has been done to the government’s satisfaction. Sky has released the following statement:
Do you want Fox or Comcast to win this bidding war? If you are a Sky customer, what’s your take on this whole thing?