Open main menu
Home
Random
Recent changes
Special pages
Community portal
Preferences
About Wikipedia
Disclaimers
Incubator escapee wiki
Search
User menu
Talk
Dark mode
Contributions
Create account
Log in
Editing
NBCUniversal
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
====Attempted buyout of 21st Century Fox assets and subsequent acquisition of Sky==== On November 16, 2017, NBCUniversal's parent company Comcast made a bid to acquire [[21st Century Fox]]'s filmed entertainment, cable entertainment, and international assets, ten days after [[The Walt Disney Company]] (at the time, owners of rival network [[American Broadcasting Company|ABC]], cable sports channel [[ESPN]] and theme parks Disneyland and [[Walt Disney World]]) was reported to be negotiating with Fox for the same assets. The deal contained key assets such as the 20th Century Fox [[20th Century Studios|film]] and [[20th Television|television studios]], 30% stake in [[Hulu]], television assets [[FX (TV channel)|FX Networks]], [[National Geographic (U.S. TV channel)|National Geographic Channel]], and international television operations such as [[Star India]], while excluding the [[Fox Broadcasting Company]], the [[Fox News Channel]], [[Fox Television Stations]], [[Fox Business Network]], [[Fox Sports 1]] and [[Fox Sports 2|2]], [[Fox Deportes]], and the [[Big Ten Network]], all of which were [[Corporate spin-off|spun off]] into the "New Fox" company (later known as the [[Fox Corporation]]) run by the [[Murdoch family]].<ref>{{Cite news|url=https://deadline.com/2017/11/comcast-21st-century-fox-acquisition-talks-report-1202210244/|title=Comcast-Fox Deal Talks Latest Entry Into Media Merger Mania|last1=Chmielewski|first1=Dawn C.|date=November 16, 2017|work=Deadline Hollywood|access-date=November 28, 2017|last2=Hayes|first2=Dade|archive-date=June 28, 2018|archive-url=https://web.archive.org/web/20180628233812/https://deadline.com/2017/11/comcast-21st-century-fox-acquisition-talks-report-1202210244/|url-status=live}}</ref><ref>{{cite news|url=https://www.hollywoodreporter.com/news/sony-inquiring-21st-century-fox-assets-1059499|title=Sony Also Inquiring About 21st Century Fox Assets|last=Bond|first=James|date=November 17, 2017|work=[[The Hollywood Reporter]]|access-date=November 17, 2017|publisher=[[Eldridge Industries]]|language=en-US|archive-date=November 18, 2017|archive-url=https://web.archive.org/web/20171118094022/https://www.hollywoodreporter.com/news/sony-inquiring-21st-century-fox-assets-1059499|url-status=live}}</ref> However, on December 11, 2017, Comcast officially dropped the bid, saying that "We never got the level of engagement needed to make a definitive offer."<ref>{{Cite news|url=https://www.reuters.com/article/us-fox-m-a-comcast-exclusive/comcast-drops-bid-for-fox-assets-leaving-disney-in-pole-position-idUSKBN1E52OM|title=Comcast drops bid for Fox assets, leaving Disney in pole position|last=Reuter Staff|first=Reuter Staff|date=December 11, 2017|work=Reuters|access-date=December 11, 2017|archive-date=November 9, 2020|archive-url=https://web.archive.org/web/20201109042941/https://www.reuters.com/article/us-fox-m-a-comcast-exclusive/comcast-drops-bid-for-fox-assets-leaving-disney-in-pole-position-idUSKBN1E52OM|url-status=live}}</ref> On December 14, 2017, Disney officially confirmed [[Acquisition of 21st Century Fox by Disney|its acquisition of the most 21st Century Fox assets]], which was granted approval from the [[United States Department of Justice Antitrust Division]] on June 27, 2018, and approved by stockholders from both companies one month later.<ref>{{Cite news|url=https://money.cnn.com/2017/12/14/media/disney-fox-deal/index.html|title=Disney is buying most of 21st Century Fox for $52.4 billion|last=Riley|first=Charles and [[Hadas Gold]]|work=CNNMoney|access-date=December 14, 2017|archive-date=January 21, 2018|archive-url=https://web.archive.org/web/20180121041657/http://money.cnn.com/2017/12/14/media/disney-fox-deal/index.html|url-status=live}}</ref> On April 25, 2018, Comcast launched its takeover offer for [[Sky (company)|Sky plc]] at £12.50 per-share, or approximately £22.1 billion.<ref>{{Cite news|url=https://www.bbc.com/news/business-43209100|title=Murdoch bid for Sky challenged by US giant|date=February 27, 2018|work=BBC News|access-date=February 27, 2018|archive-date=February 27, 2018|archive-url=https://web.archive.org/web/20180227084355/http://www.bbc.com/news/business-43209100|url-status=live}}</ref><ref>{{Cite news|url=https://www.bbc.co.uk/news/business-43891132|title=Comcast starts £22bn bidding war for Sky|last=Wilson|first=Bill|date=April 25, 2018|work=BBC News|access-date=April 25, 2018|language=en-GB|archive-date=April 25, 2018|archive-url=https://web.archive.org/web/20180425103117/http://www.bbc.co.uk/news/business-43891132|url-status=live}}</ref> 21st Century Fox owned a significant stake in Sky and was trying to take full control of it itself, ahead of its own acquisition by The Walt Disney Company. NBCUniversal CEO [[Steve Burke (businessman)|Steve Burke]] stated that purchasing Sky would roughly double its presence in English-speaking markets, and allow for synergies between the respective networks and studios of NBCUniversal and Sky.<ref>{{Cite news|url=https://deadline.com/2018/02/nbcus-steve-burke-claims-comcasts-31b-sky-deal-will-boost-scripted-tv-film-fortunes-1202304579/|title=NBCU's Steve Burke Claims Comcast's $31B Sky Deal Will Boost Scripted TV & Film Fortunes, Fox Notes No "Firm Offer" Was Made; 21st Century Fox Reacts – Update|last=White|first=Peter|date=February 27, 2018|work=Deadline Hollywood|access-date=February 27, 2018|archive-date=February 27, 2018|archive-url=https://web.archive.org/web/20180227190952/http://deadline.com/2018/02/nbcus-steve-burke-claims-comcasts-31b-sky-deal-will-boost-scripted-tv-film-fortunes-1202304579/|url-status=live}}</ref> On June 5, 2018, [[Secretary of State for Digital, Culture, Media and Sport|Culture Secretary]] [[Matt Hancock]] cleared both 21st Century Fox and Comcast's respective offers to acquire Sky plc. Fox's offer was contingent on the divestiture of Sky News.<ref>{{Cite news|url=https://www.bbc.com/news/business-44373621|title=Sky bid battle looms after government nod|date=June 5, 2018|work=BBC News|access-date=June 5, 2018|language=en-GB|archive-date=June 6, 2018|archive-url=https://web.archive.org/web/20180606011906/https://www.bbc.com/news/business-44373621|url-status=live}}</ref><ref>{{cite news |last=Szalai |first=Georg |title=U.K. Approves Fox's Sky Bid, Subject to Sale of Sky News, and Clears Comcast Offer |url=https://www.hollywoodreporter.com/news/uk-approves-foxs-sky-bid-subject-sale-sky-news-clears-comcast-offer-1115661 |access-date=June 5, 2018 |work=The Hollywood Reporter |archive-date=June 6, 2018 |archive-url=https://web.archive.org/web/20180606052042/https://www.hollywoodreporter.com/news/uk-approves-foxs-sky-bid-subject-sale-sky-news-clears-comcast-offer-1115661 |url-status=live }}</ref> On June 15, 2018, the European Commission gave antitrust clearance to Comcast's offer to purchase Sky, citing that in terms of its current assets in Europe, there would be limited impact on competition. Comcast included a 10-year commitment to the operations and funding of Sky News.<ref>{{Cite news|url=https://www.wsj.com/articles/comcast-clears-eu-hurdle-in-29-billion-bid-for-sky-1529076176|title=Comcast Clears EU Hurdle in $29 Billion Bid for Sky|last=Woo|first=Stu|date=June 15, 2018|work=[[The Wall Street Journal]]|access-date=June 18, 2018|language=en-US|issn=0099-9660|archive-date=June 18, 2018|archive-url=https://web.archive.org/web/20180618044750/https://www.wsj.com/articles/comcast-clears-eu-hurdle-in-29-billion-bid-for-sky-1529076176|url-status=live}}{{subscription required}}</ref><ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-06-15/comcast-clears-eu-antitrust-hurdle-for-sky-ahead-of-disney-fight|title=Comcast Clears EU Antitrust Hurdle for Sky Ahead of Disney Fight|date=June 15, 2018|work=Bloomberg.com|access-date=June 18, 2018|language=en|archive-date=June 18, 2018|archive-url=https://web.archive.org/web/20180618203319/https://www.bloomberg.com/news/articles/2018-06-15/comcast-clears-eu-antitrust-hurdle-for-sky-ahead-of-disney-fight|url-status=live}}{{subscription required}}</ref><ref>{{Cite news|url=https://www.hollywoodreporter.com/news/eu-clears-comcasts-bid-sky-1107237|title=EU Clears Comcast's Bid for Sky|work=The Hollywood Reporter|access-date=June 18, 2018|language=en|archive-date=June 16, 2018|archive-url=https://web.archive.org/web/20180616133036/https://www.hollywoodreporter.com/news/eu-clears-comcasts-bid-sky-1107237|url-status=live}}</ref> On July 11, 2018, Fox increased its bid for Sky to £14.00 per-share, valuing it at £24.5 billion. Comcast subsequently counterbid just hours later with an offer at £14.75 per-share, valued at £26 billion.<ref>{{Cite news|url=https://www.bbc.co.uk/news/business-44791383|title=Murdoch's Fox increases Sky bid|date=July 11, 2018|work=BBC News|access-date=July 11, 2018|language=en-GB|archive-date=July 11, 2018|archive-url=https://web.archive.org/web/20180711064231/https://www.bbc.co.uk/news/business-44791383|url-status=live}}</ref><ref>{{Cite news|url=https://variety.com/2018/tv/news/takeover-body-hikes-price-disney-would-need-to-offer-for-sky-1202872637/|title=U.K. Takeover Body Hikes Price Disney Would Need to Offer for Sky|last=Clarke|first=Stewart|date=July 13, 2018|work=Variety|access-date=July 13, 2018|language=en-US|archive-date=July 13, 2018|archive-url=https://web.archive.org/web/20180713121920/https://variety.com/2018/tv/news/takeover-body-hikes-price-disney-would-need-to-offer-for-sky-1202872637/|url-status=live}}</ref> On September 20, 2018, the [[Panel on Takeovers and Mergers]] ordered that a blind auction be held "in order to provide an orderly framework for the resolution of this competitive situation". In this process, Fox, followed by Comcast, made new cash-only bids for Sky. After these first two rounds of bidding, there would be a third round where both companies could make new offers. However, the third round of bidding would only be binding if both companies make a bid.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/sep/20/sky-takeover-battle-fox-comcast-auction-regulator|title=Sky takeover battle must go to auction, orders regulator|last=Waterson|first=Jim|date=September 20, 2018|website=the Guardian|language=en|access-date=September 20, 2018|archive-date=September 20, 2018|archive-url=https://web.archive.org/web/20180920123603/https://www.theguardian.com/business/2018/sep/20/sky-takeover-battle-fox-comcast-auction-regulator|url-status=live}}</ref> Comcast won the auction with a bid of £17.28 per-share, beating Fox's bid of £15.67.<ref>{{Cite news|url=https://techcrunch.com/2018/09/22/comcast-outbids-fox-in-40b-battle-for-sky/|title=Comcast outbids Fox in $40B battle for Sky|last=Clark|first=Kate|date=September 22, 2018|work=TechCrunch|access-date=September 22, 2018|language=en-US|archive-date=September 22, 2018|archive-url=https://web.archive.org/web/20180922184633/https://techcrunch.com/2018/09/22/comcast-outbids-fox-in-40b-battle-for-sky/|url-status=live}}</ref><ref>{{Cite news|url=https://www.bbc.com/news/business-45615441|title=Sky: Comcast outbids Fox with £30bn bid for broadcaster|date=September 22, 2018|work=BBC News|access-date=September 22, 2018|language=en-GB|archive-date=September 22, 2018|archive-url=https://web.archive.org/web/20180922183747/https://www.bbc.com/news/business-45615441|url-status=live}}</ref> Sky plc had until October 11, 2018, to formally accept this offer.<ref name="variety-openmarket">{{Cite news|url=https://variety.com/2018/tv/global/comcast-buys-sky-shares-open-market-1202956344/|title=Comcast Buys Over 30% of Sky on Open Market, Seeks More Before Takeover Deadline|last=Clarke|first=Stewart|date=September 25, 2018|work=Variety|access-date=September 27, 2018|language=en-US|archive-date=September 27, 2018|archive-url=https://web.archive.org/web/20180927085738/https://variety.com/2018/tv/global/comcast-buys-sky-shares-open-market-1202956344/|url-status=live}}</ref> Following its auction victory, Comcast began to acquire Sky shares from the open market. On September 26, 2018, Fox subsequently announced its intent to sell all of its shares in Sky plc to Comcast for £12 billion.<ref name="variety-openmarket"/><ref>{{Cite web|url=https://www.theguardian.com/media/2018/sep/26/rupert-murdochs-sky-reign-to-end-as-fox-sells-all-shares-to-comcast|title=Rupert Murdoch's Sky reign to end as Fox sells all shares to Comcast|last=Waterson|first=Jim|date=September 26, 2018|website=The Guardian|language=en|access-date=September 27, 2018|archive-date=November 17, 2020|archive-url=https://web.archive.org/web/20201117140713/https://www.theguardian.com/media/2018/sep/26/rupert-murdochs-sky-reign-to-end-as-fox-sells-all-shares-to-comcast|url-status=live}}</ref> On October 4, 2018, Fox completed the sale of its shares, giving Comcast a 76.8% controlling stake at the time.<ref>{{Cite news|url=https://variety.com/2018/tv/news/comcast-closes-deal-for-foxs-sky-stake-owns-over-75-of-european-pay-tv-giant-1202973728/|title=Comcast Closes Deal for Fox's Sky Stake, Owns Over 75% of European Pay-TV Giant|last=Clarke|first=Stewart|date=October 9, 2018|work=Variety|access-date=October 11, 2018|language=en-US|archive-date=October 11, 2018|archive-url=https://web.archive.org/web/20181011082433/https://variety.com/2018/tv/news/comcast-closes-deal-for-foxs-sky-stake-owns-over-75-of-european-pay-tv-giant-1202973728/|url-status=live}}</ref> On October 12, 2018, Comcast announced it will compulsorily acquire the rest of Sky after its bid gained acceptances from 95.3% of the broadcaster's shareholders with the company being delisted by early 2019.<ref>{{cite web|url=http://www.stockmarketwire.com/article/6165253/Comcast-to-buy-remaining-Sky-shares-after-bid-gets-95pct-acceptance.html|title=Comcast to buy remaining Sky shares after bid gets 95% acceptance|date=October 12, 2018|publisher=Stock Market Wire|access-date=October 15, 2018|archive-date=October 14, 2018|archive-url=https://web.archive.org/web/20181014204116/http://www.stockmarketwire.com/article/6165253/Comcast-to-buy-remaining-Sky-shares-after-bid-gets-95pct-acceptance.html|url-status=live}}</ref> Sky was delisted on November 7, 2018, after Comcast acquired all remaining shares.<ref>{{cite web|url=https://www.cmcsa.com/static-files/ab8e5d23-2bf7-4929-83cf-45033c1891d6|title=Recommended mandatory superior cash offer for Sky: Compulsory acquisition of Sky shares|date=October 12, 2018|website=Comcast|access-date=August 27, 2019|archive-date=April 1, 2022|archive-url=https://web.archive.org/web/20220401063602/https://www.cmcsa.com/static-files/ab8e5d23-2bf7-4929-83cf-45033c1891d6|url-status=live}}</ref> While NBCUniversal and Sky still operate mainly as separate entities within Comcast, following the Sky takeover Comcast has begun the process of integrating some of NBCUniversal's international operations with parts of Sky. Among other moves, NBCUniversal's [[pay television]] channels in the United Kingdom will be folded with Sky's, and [[Sky Deutschland]] will become the parent company of NBCU's German networks.<ref>{{Cite web|url=https://variety.com/2019/digital/news/merger-of-sky-nbcu-operations-begins-post-comcast-takeover-1203181562/|title=Merger of Sky, NBCU Operations Begins Post-Comcast Takeover|last1=Keslassy|first1=Elsa|last2=Clarke|first2=Stewart|date=April 5, 2019|website=Variety|language=en|access-date=August 27, 2019|archive-date=April 10, 2021|archive-url=https://web.archive.org/web/20210410140459/https://variety.com/2019/digital/news/merger-of-sky-nbcu-operations-begins-post-comcast-takeover-1203181562/|url-status=live}}</ref>
Edit summary
(Briefly describe your changes)
By publishing changes, you agree to the
Terms of Use
, and you irrevocably agree to release your contribution under the
CC BY-SA 4.0 License
and the
GFDL
. You agree that a hyperlink or URL is sufficient attribution under the Creative Commons license.
Cancel
Editing help
(opens in new window)