Thursday, 29 June 2017

21st Century Fox agrees £11.7bn Sky takeover

By Nick Wood, Total Telecom
Thursday 15 December 16

U.S. media giant must overcome potentially stiff opposition to media concentration.

Rupert Murdoch's 21st Century Fox on Thursday agreed an £11.7 billion (€14 billion) deal to acquire the 60.9% of U.K.-based TV and telecoms provider Sky that it does not already own. The announcement comes after Sky revealed late last week that it had reached an agreement in principle to be taken over by Fox, news that sent Sky's shares up almost 32%. Thursday's £10.75 per share offer represents a multiple of 11.4 on Sky's EBITDA for the 12 months to 30 June, and a 40% premium on Sky's share price on 6 December…

Rupert Murdoch's 21st Century Fox on Thursday agreed an £11.7 billion (€14 billion) deal to acquire the 60.9% of U.K.-based TV and telecoms provider Sky that it does not already own. The announcement comes after Sky revealed late last week that it had reached an agreement in principle to be taken over by Fox, news that sent Sky's shares up almost 32%. Thursday's £10.75 per share offer represents a multiple of 11.4 on Sky's EBITDA for the 12 months to 30 June, and a 40% premium on Sky's share price on 6 December…

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