The acquisition of one of West London’s best known employers, Sky, by Comcast has been announced.
American cable company Comcast outbid Fox, and others, with a £30bn bid for the Osterley-based broadcaster. The sale was conducted as a blind auction by the UK’s Takeover Panel.
The bid has been recommended to Sky shareholders by the company’s board. Sky is one of Europe’s most profitable TV companies.
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast said: “This is a great day for Comcast. Sky is a wonderful company with a great platform, tremendous brand, and accomplished management team. This acquisition will allow us to quickly, efficiently and meaningfully increase our customer base and expand internationally. We couldn’t be more excited by the opportunities in front of us. We now encourage Sky shareholders to accept our offer, which we look forward to completing before the end of October 2018.”
Fox, owned by Rupert Murdoch, was bidding to buy the 61% of Sky it did not own. It will now sell its 39% stake to Comcast.