The Multi-Billion Dollar Sky Takeover Battle Has Been A Long, Strange Trip [Forbes]
SKY PLC AMERICAN DEPOSITARY REALTY (SKYAY)
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Source: Forbes
Photographer: Simon Dawson/Bloomberg Of all the weird turns in the months-long fiscal soap opera between 21st Century Fox -- Walt Disney and Comcast, this weekend’s sealed bid auction to determine the future of U.K. pay television provider Sky Plc, may be the weirdest. As the Wall Street Journal notes, the U.K. Takeover Panel hasn’t run the process that often and when it has done it never done so for a company the size of Sky, valued at roughly $36 billion. Even so, the potential rewards for owning Sky far outweigh the risks associated with the deal. Let’s take a closer at how these multi-billion dollar media monoliths got into the situation. Media mogul Rupert Murdoch, Fox’s chairman/controlling shareholder, launched Sky television in 1989 as an analog satellite TV service with nine channels including Sky News. A year later, the Australia-born tycoon engineered a merger with rival BSB, creating British Sky Broadcasting, known as BSkyB. The compan
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