Fox Will Tender its Sky Stake to Comcast; Disney Can Focus on Integrating Fox Assets
Fox announced on Sept. 26 that it will sell its 39% share in Sky to Comcast under the cable company's GBX 1,728 tender offer for Sky shares. The tender will move Comcast's stake in the company to well over the 50% goal and will likely force other shareholders to sell as well. Disney will use the additional proceeds from the sale to lower the debt load needed to acquire the Fox assets. Disney is in the process of closing its acquisition of the Fox assets which would have included the 39% stake in...Twenty-First Century Fox is a media and entertainment company with operations in the following segments: Cable Network Programming, which consists of the production and licensing of programming distributed primarily through cable television systems and others; Television, which consists of the broadcasting of network programming and the operation of power broadcast television stations; Filmed Entertainment, which consists of the production and acquisition of live-action and animated motion pictures for distribution and licensing in all formats in all entertainment media worldwide, and the production and licensing of television programming worldwide; and Other, Corporate and Eliminations.
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