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Comcast makes rival bid for Sky

Comcast makes rival bid for Sky
Staff Reporter
27 February 2018

US cable giant Comcast has made a rival bid for Sky, challenging Rupert Murdoch’s existing offer for complete control of the company.

Comcast, which owns NBC Universal and is the US’s biggest cable operator, has announced a rival bid worth around £22bn.

“We think Sky is an outstanding company. It has 23 million customers and leading positions in the UK, Italy, and Germany. Sky has been a consistent innovator in its use of technology to deliver a fantastic viewing experience and has a proud record of investment in news and programming. It has great people and a very strong and capable management team,” said Brian L. Roberts, Chairman and CEO of Comcast Corporation.

Roberts added, “Comcast intends to use Sky as a platform for growth in Europe. We already have a strong presence in London through our NBCUniversal international operations, and we intend to maintain Sky’s UK headquarters. Adding Sky to the Comcast family of businesses will increase our international revenues from 9% to 25% of Company revenues.”

Comcast said that the acquisition would “enhance the entertainment, distribution, and technology leadership of Comcast, and importantly expand Comcast’s international footprint to more effectively compete in the rapidly changing and intensely competitive entertainment and communications landscape.”

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