Disney Faces Lengthy Bidding War as Comcast Bids for Sky TV
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Your move, Bob Iger.
Comcast is challenging the CEO of Walt Disney Co. and his plans to take over 21st Century Fox’s media businesses by swooping in and trying to snag one of the main assets. Comcast made a surprise 22.1 billion-pound ($31 billion) offer Tuesday for U.K. pay-TV company Sky Plc, which Iger has called a crown jewel of the package he’s seeking to buy from Fox.
The sudden arrival of Comcast creates some difficult choices for Iger: Should he be content with Fox minus Sky, or should he entertain a costly bidding war with the U.S. cable company? Comcast’s offer of 12.50 pounds per Sky share exceeds a 10.75-pound offer by Rupert Murdoch’s Fox for the 61 percent stake it doesn’t already own in the European broadcaster, which was announced before Disney unveiled its own takeover plans for Fox.
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