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Comcast formalizes offer for Sky

Apr. 25, 2018 6:28 AM ETComcast Corporation (CMCSA) StockCMCSA, SKYAY, FOXA, FOXBy: Yoel Minkoff, SA News Editor6 Comments
  • Comcast (NASDAQ:CMCSA) has formalized its offer for British broadcaster Sky (OTCPK:SKYAY), along with commitments to maintain its annual budget and editorial board independence, in a deal valued at about $31B.
  • Comcast said the "superior" cash bid was a 16% premium to the existing offer from Twenty-First Century Fox (NASDAQ:FOX), which has also been trying to buy the 61% of Sky that it doesn't already own.
  • CMCSA +1.7% premarket
  • Previously: Comcast beats by $0.03, beats on revenue (Apr. 25 2018)

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