Deals
Comcast's $39 Billion Sky Win Extends Media Empire to Europe
- After dueling Fox for months, Comcast delivers knockout blow
- CEO Brian Roberts gets victory after string of M&A defeats
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Comcast Corp. won a bidding war for Sky Plc with a $39 billion offer for Europe’s largest satellite broadcaster, staving off rivals 21st Century Fox Inc. and Walt Disney Co. to extend the U.S. cable giant’s empire abroad.
In a rare auction overseen by U.K. regulators, Comcast bid 10 percent more than Fox on Saturday, all but assuring that investors in London-based Sky will tender their shares to the Philadelphia-based cable carrier. Fox, which is selling its 39 percent stake to Disney as part of a deal struck last year, is considering pledging the Sky shares to Comcast if Disney supports the move, people familiar with the matter said.