Comcast Is Helping Disney Destroy It [The Motley Fool]
NASDAQ:AMEX Investor Relations: skygroup.sky/corporate/investors/shareholder-centre
Comcast is paying Fox $15 billion for its shares of Sky, and it could sell its stake in Hulu to Disney. Comcast ( NASDAQ:CMCSA ) emerged as the winning bidder for European Pay TV operator Sky PLC ( NASDAQOTH:SKYAY ) last weekend. Its final bid of 17.28 pounds per share was roughly 10% higher than the last bid from Twenty-First Century Fox ( NASDAQ:FOXA ) . Fox owned about 39% of Sky prior to making a bid of 10.75 pounds per share in December of 2016. That was already a 36% premium over Sky's share price at the time. Comcast's winning bid was 61% higher than Fox's original bid, and more than double what shares were trading for before takeover bids began about 23 months ago. Many investors believe Comcast overpaid for Sky . Not only that, it's going to pay Fox about $15 billion for its 39% stake in the European company. Disney ( NYSE:DIS ) , which is in the process of acquiring Fox, agreed to the sale as well. That money is going to go directly towa
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