Murdoch’s 21st Century Fox Agrees To $A19.8 Billion Takeover Deal With Sky

Murdoch’s 21st Century Fox Agrees To $A19.8 Billion Takeover Deal With Sky
SHARE
THIS



Rupert Murdoch’s mass media conglomerate, 21st Century Fox, has announced it has agreed to take full control of British TV giant Sky to the tune of $A19.8 billion.

The offer was announced almost one week after the companies reached a preliminary agreement on a deal where 21st Century Fox would buy the remaining 61 per cent stake in Sky that it didn’t already own, according to Fairfax.

21st Century Fox said in a statement that the deal “creates a global leader in content creation and distribution, enhances our sports and entertainment scale, and gives us unique and leading direct-to-consumer capabilities and technologies”.

Under the terms of the transaction, Fairfax reported that 21st Century Fox will pay roughly $18 a share for the remainder of Sky, with the deal to value the TV company at approximately $31 billion.

The Murdoch-owned media giant said it expects the transaction to close by the end of 2017, and if that is not the case, Sky shareholders would be eligible to receive a special dividend of 10 pence a share, according to Fairfax.

The transaction has been arranged so that it only requires approval from 75 per cent of Sky shareholders who vote on the deal.

Sky deputy chairman Martin Gilbert said that while the company’s independent committee remains confident in Sky’s long-term prospects, it believes 21st Century Fox’s offer will accelerate and de-risk the delivery of future value for all Sky shareholders, Fairfax reported.

“As a result, the independent committee unanimously agreed that we have a proposal that we can put to Sky shareholders and recommend,” he said.

Please login with linkedin to comment

Napisan Sky TAM

Latest News

IsoWhey launches #YouGotThis Weight Management Campaign Via Indie Agency Urban
  • Advertising
  • Campaigns

IsoWhey launches #YouGotThis Weight Management Campaign Via Indie Agency Urban

Australia’s leading health and wellbeing brand IsoWhey has launched its latest national campaign, ‘#YouGotThis’. Created by Urban, the campaign highlights the real-life struggles Australians face on their weight management journey. A journey made easier through perseverance, and a little help from IsoWhey. The #YouGotThis campaign is IsoWhey’s biggest marketing investment to date, with executions running […]

Taking A stand? Just Do It…Maybe
  • Marketing
  • Opinion

Taking A stand? Just Do It…Maybe

In this guest post, creative and strategy director at WE Buchan, David Coupland (pictured below), takes a look at the fallout from Nike’s Colin Kaepernick campaign and says what it also does is show the importance brands now play in our lives… Nike’s decision to feature Colin Kaepernick as the face of their 30th anniversary “Just Do It” campaign […]

Opinion

by B&T Magazine

B&T Magazine
How To Optimise Branded Keywords
  • Marketing
  • Opinion

How To Optimise Branded Keywords

In this guest post, CEO of Delacon, Michael Center (pictured below) talks the value of branded keywords for marketers and offer his tips on getting the best from yours… Branded keywords are an essential part of the digital marketing strategy for many large businesses. Trading on the recognition and equity of a brand’s name, some of the country’s […]

Opinion

by B&T Magazine

B&T Magazine
OLYMPUS DIGITAL CAMERA
  • Marketing
  • Opinion

Expertise First, Influence Second: When Influence Is A By-Product Of Expertise

In this guest post, Taryn Williams, CEO and founder of influencer and creative talent marketplace theright.fit, explains why influence should be a by-product of success, not the foundation for it… Like any form of advertising and promotion, influencer marketing is not without its controversies. Earlier this year Australia’s Federal Minister for Health, Greg Hunt, ordered […]

Opinion

by B&T Magazine

B&T Magazine
Ford & Facebook Invite Aussies To Personalise 2018 Mustang With New In-App Experience
  • Campaigns
  • Marketing
  • Technology

Ford & Facebook Invite Aussies To Personalise 2018 Mustang With New In-App Experience

Ford Australia has unveiled a new innovation that showcases the iconic Ford Mustang through a collaboration Facebook and Instagram. The interactive campaign invites Facebook and Instagram communities to take part in a live poll to identify Australia’s ultimate Mustang design. Targeting performance car fans, along with design lovers and image-conscious consumers, Ford and its partner […]