Report
Allan C. Nichols
EUR 101.80 For Business Accounts Only

Sky agrees to be acquired by Fox for GBX 1,075 per share.

On Jan. 23, the U.K. Competition and Markets Authority provisionally found that 21st Century Fox’s offer to acquire the 61% of Sky it doesn’t already own is not in the public interest. The CMA believes the Murdoch Family Trust, which controls Sky and several newspapers in the United Kingdom, has too much power and will increase it with full control of Sky. The CMA says almost one third of the U.K.’s population receives its news from Murdoch-controlled entities. We disagree that the Murdoch famil...
Underlying
Sky Limited

Sky is an entertainment and communications company, engaged in the operation of pay television broadcasting and home communications services, including the provision of broadband and telephone operations. Co. operates in three segments: UK and Ireland, which is involved in the activities and operations of the pay TV, home communications, mobile and adjacent businesses; Germany and Austria, which is involved in the activities and operations of the pay TV and adjacent businesses; and Italy, which is involved in the activities and operations of the pay TV and adjacent businesses. Co. provides entertainment from live sporting events, drama, U.S. and local shows and blockbuster movies.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Allan C. Nichols

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