Comcast gains by 2.3pc, Fox falls

Business | 13 Jul 2018 10:44 am

The merry-go-round of potential media deals continued Thursday as Comcast offered to buy European pay-TV company Sky for US$34 billion a day after Twenty-First Century Fox increased its own offer for Sky.

Fox already owns part of Sky, and while it tangles with Comcast, Comcast and Disney are also trying to buy Fox itself. Fox recently accepted Disney’s US$71 billion offer. The New York Times reported Thursday that Comcast will focus on Sky and end its pursuit of Fox.

Sky’s stock added 3.4 percent in London. In the U.S., Comcast was up by 2.3 percent to US$34.55 and Fox fell by 0.9 percent to US$47.38. Disney gained 0.2 percent to US$108.25.-AP

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