CI
Okay, but that even being the case, the sale to Disney was agreed between both parties. Granted, it's not gone through the regulatory hurdles yet, but DCMS agreeing to the sale of Sky to Comcast, on condition of Sky selling Sky News to someone else? There's multiple layers of stuff that just doesn't make sense here, machinations and all. Comcast made a bid but 21CF have yet to agree to it. It stinks of political shenanigans worse than most stuff.
Disney have not yet tabled an official bid. Comcast have.
Meanwhile here's the full statement
| from …….. | GOVERNMENT on GOV.UK | 05-Jun-2018 @ 14:35 |
Meanwhile here's the full statement
| from …….. | GOVERNMENT on GOV.UK | 05-Jun-2018 @ 14:35 |
Okay, but that even being the case, the sale to Disney was agreed between both parties. Granted, it's not gone through the regulatory hurdles yet, but DCMS agreeing to the sale of Sky to Comcast, on condition of Sky selling Sky News to someone else? There's multiple layers of stuff that just doesn't make sense here, machinations and all. Comcast made a bid but 21CF have yet to agree to it. It stinks of political shenanigans worse than most stuff.
DV
Sorry Citiprod, the facts are clear NO FORMAL Disney bid has been made. An indication yes, but DCMS cannot move on indications only on firm facts in Law. When, and indeed if, such a formal bid is made then the DCMS can start processing it.
CI
You’re missing the point. From BBC News...
The deal is agreed between Disney & Fox. That is in black and white. It hasn’t gone through the regulatory hurdles yet, but that is a deal. Both parties have agreed to the sale, it is almost a done deal.
Comcast ‘s offer to buy Sky is just that. An offer. It’s not even close to being a done deal yet, and the fact the government has given regulatory approval to the offer, and not yet to the agreed deal, smells. I understand the deal hasn’t yet gotten to the all the involved regulatory authorities, but still, this smells seriously suspect.
Sorry Citiprod, the facts are clear NO FORMAL Disney bid has been made. An indication yes, but DCMS cannot move on indications only on firm facts in Law. When, and indeed if, such a formal bid is made then the DCMS can start processing it.
You’re missing the point. From BBC News...
Quote:
Walt Disney has agreed to buy the bulk of 21st Century Fox's business
The deal is agreed between Disney & Fox. That is in black and white. It hasn’t gone through the regulatory hurdles yet, but that is a deal. Both parties have agreed to the sale, it is almost a done deal.
Comcast ‘s offer to buy Sky is just that. An offer. It’s not even close to being a done deal yet, and the fact the government has given regulatory approval to the offer, and not yet to the agreed deal, smells. I understand the deal hasn’t yet gotten to the all the involved regulatory authorities, but still, this smells seriously suspect.
DV
I disagree. It's the staging of the offers that you are ignoring. Disney have to make a move, they are waiting on conclusion of the 21CF - Sky deal. When that completes they enter the fray. They are an interested party only at present. Comcast's alternative offer is already in place and thus can be regulated currently.
The ONLY offers on the table legally are
1 21CF bid for the rump of SKY not owned
and
2. The Comcast bid for SKY plc.
It's clear that unless anything really dramatic occurs that the latter will fail because its dependent on 21CF selling its stake in SKY to Comcast. Comcast want Sky in its entirety including the whole 21CF stake.
Indeed there's a strong argument that 21CF would be left with the rump 21CF assets it wants to sell in addition to Sky, as the remainder might not be attractive to Disney without Sky plc included.
The ONLY offers on the table legally are
1 21CF bid for the rump of SKY not owned
and
2. The Comcast bid for SKY plc.
It's clear that unless anything really dramatic occurs that the latter will fail because its dependent on 21CF selling its stake in SKY to Comcast. Comcast want Sky in its entirety including the whole 21CF stake.
Indeed there's a strong argument that 21CF would be left with the rump 21CF assets it wants to sell in addition to Sky, as the remainder might not be attractive to Disney without Sky plc included.
CI
Except that's not the case. The Disney/Fox deal is not dependent on Fox completing any purchase of Sky, which is not going to happen because that's already been blocked. What is dependent on, is jumping through a lot of regulatory hurdles, because Disney are purchasing assets in many countries. There's FOXTEL in Australia, STAR in Asia, Sky in the UK and other parts of Europe, and Fox Sports Net in the USA, and all the FOX international channels, and those are the ones I can immediately remember off-hand. There are many regulatory hurdles to leap through, not just the UK ones.
That's why this clearing of Comcast's offer smells so bad, cos it feels like they're trying to force a hand that honestly speaking, probably shouldn't be forced right now. They could have postponed clearing of this offer, pending the already known about offer from Disney. This stinks to high heaven.
But, there's no provision right now for anything other than the FOX-owned part of Sky to be sold to Comcast right now. That 39% stake is all they can offer for at the moment, cos it's not clear right now that the other 61% is going to be sold to anybody else. Not FOX, not Disney, not Comcast. FOX might have been in play for the other 61% of Sky, but right now, that stake isn't even on the table.
I would say there's an even stronger argument that the Sky assets aren't the most attractive part of the whole deal to Disney. I'd argue that Star is more attractive in that sense, cos it covers both India and China, which gets them access to over 3 billion people in Asia. But I think that the most attractive part is probably Fox Sports Net, and the many regional assets that they can combine with ESPN, as well as the Fox Sports channels in Asia and Australia, and to a smaller degree, Sky Sports here in the UK, which would then beg the question of how much longer the programming arrangement between BT Sport and ESPN will last.
I disagree. It's the staging of the offers that you are ignoring. Disney have to make a move, they are waiting on conclusion of the 21CF - Sky deal. When that completes they enter the fray. They are an interested party only at present. Comcast's alternative offer is already in place and thus can be regulated currently.
Except that's not the case. The Disney/Fox deal is not dependent on Fox completing any purchase of Sky, which is not going to happen because that's already been blocked. What is dependent on, is jumping through a lot of regulatory hurdles, because Disney are purchasing assets in many countries. There's FOXTEL in Australia, STAR in Asia, Sky in the UK and other parts of Europe, and Fox Sports Net in the USA, and all the FOX international channels, and those are the ones I can immediately remember off-hand. There are many regulatory hurdles to leap through, not just the UK ones.
That's why this clearing of Comcast's offer smells so bad, cos it feels like they're trying to force a hand that honestly speaking, probably shouldn't be forced right now. They could have postponed clearing of this offer, pending the already known about offer from Disney. This stinks to high heaven.
Quote:
It's clear that unless anything really dramatic occurs that the latter will fail because its dependent on 21CF selling its stake in SKY to Comcast. Comcast want Sky in its entirety including the whole 21CF stake.
But, there's no provision right now for anything other than the FOX-owned part of Sky to be sold to Comcast right now. That 39% stake is all they can offer for at the moment, cos it's not clear right now that the other 61% is going to be sold to anybody else. Not FOX, not Disney, not Comcast. FOX might have been in play for the other 61% of Sky, but right now, that stake isn't even on the table.
Quote:
Indeed there's a strong argument that 21CF would be left with the rump 21CF assets it wants to sell in addition to Sky, as the remainder might not be attractive to Disney without Sky plc included.
I would say there's an even stronger argument that the Sky assets aren't the most attractive part of the whole deal to Disney. I'd argue that Star is more attractive in that sense, cos it covers both India and China, which gets them access to over 3 billion people in Asia. But I think that the most attractive part is probably Fox Sports Net, and the many regional assets that they can combine with ESPN, as well as the Fox Sports channels in Asia and Australia, and to a smaller degree, Sky Sports here in the UK, which would then beg the question of how much longer the programming arrangement between BT Sport and ESPN will last.
CI
Thank you, I knew I'd forgotten something. Yes, this is more attractive to Disney than Sky is in that sense. Even if Comcast do win out and buy Sky, and I think the chances of that actually happening are zero, it's not going to scupper the Disney/Fox deal. So, the whole thing with Comcast getting clearance first for their Sky bid just feels wrong.
They'll be getting the 20th Century Fox movie studio too, which includes a number of popular franchises, the distribution rights for the original Star Wars, and most of the Marvel characters they don't have movie rights for (X-Men, Fantastic Four).
Thank you, I knew I'd forgotten something. Yes, this is more attractive to Disney than Sky is in that sense. Even if Comcast do win out and buy Sky, and I think the chances of that actually happening are zero, it's not going to scupper the Disney/Fox deal. So, the whole thing with Comcast getting clearance first for their Sky bid just feels wrong.
DV
Related ....
AT&T have gained permission from the US Courts to merge with Time Warner. This permission will make any 21CF bid from any acquisitor much much easier with US anti-trust measures to pass.
AT&T have gained permission from the US Courts to merge with Time Warner. This permission will make any 21CF bid from any acquisitor much much easier with US anti-trust measures to pass.
IS
Thank you, I knew I'd forgotten something. Yes, this is more attractive to Disney than Sky is in that sense.
Well yes, surely the film studio (and TV production) is what they're primarily interested in? Sky, Star etc are all just extras to that
They'll be getting the 20th Century Fox movie studio too, which includes a number of popular franchises, the distribution rights for the original Star Wars, and most of the Marvel characters they don't have movie rights for (X-Men, Fantastic Four).
Thank you, I knew I'd forgotten something. Yes, this is more attractive to Disney than Sky is in that sense.
Well yes, surely the film studio (and TV production) is what they're primarily interested in? Sky, Star etc are all just extras to that
DV
Comcast have tonight raised the ante. An increased bid for the spun out of 21CF assets has been made ....
| see here …….. | CORPORATE.COMCAST.COM | 13-Jun-2018 @ 22:19 |
| see here …….. | CORPORATE.COMCAST.COM | 13-Jun-2018 @ 22:19 |