Seeking Alpha

Reports: Murdoch looks to shuffle European TV portfolio with €10B deal

  • British Sky Broadcasting (BSYBF) is reportedly in talks to acquire 21st Century Fox's (FOX) stakes in Sky Deutschland and Sky Italia for €10B ($14B).
  • Fox's holding in Sky Deutschland (SKDTF) is 55% and has a market value of €3B, and in Sky Italia its stake is 100% and is valued at €5B, so BSkyB would be offering a premium. Fox also owns 39% of the U.K. company.
  • A deal would combine BSkyB's 15M customers with the German firm's 3.73M subscribers and the Italian operator's 4.75M.
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