Comcast May Have Given Up On Fox

The offer is likely to be followed up by another from Comcast a rival bidder for Sky which screens hit shows such as Westworld

But it comes after the takeover saga stepped up a gear as Comcast increased its offer for Sky to £26 billion, just hours after Fox hiked its bid to £24.5 billion.

The fight for ownership of Sky is playing out against the backdrop of Disney and Comcast's battle for a raft of Fox assets, including Fox's current 39% stake in Sky.

Under its plans to appease Government concerns, Fox has pledged to offload Sky News to Walt Disney, which is separately bidding to buy a major chunk of Fox assets - including the Sky stake.

Chaplin fears that Comcast could overpay for Sky and possibly Fox, leading to tough ramifications for the company's stock price.

The Sky logo is seen on outside of an entrance to offices and studios in west London, Britain June 29, 2017. Investors expect Comcast to counter offer. He left the completion of the deal in the hands of Sky's shareholders. If true, this would be in violation of security rules and may well block - or at the very least stall - Disney's acquisition of 20th Century Fox and its precious entertainment assets. Sky's shares closed at £15.01 on Tuesday, suggesting shareholders think the battle is not over. Sky is a pawn in a wider contest between Comcast and Walt Disney Co. for the bulk of Murdoch's media empire, as the USA media giants try to take on powerful digital rivals like Netflix Inc. Is this the deal that inspires more or scares off others?

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Fox has been attempting to purchase Sky since December 2016, and has increased its offer by more than 30 percent since then, according to the AP.

"It's too low", Odey, a former son-in-law of Murdoch whose eponymous hedge fund is a Sky shareholder, said of the sweetened Fox offer. Analysts said it was not a knock-out, and Fox did not say it was its final offer.

Sky's independent directors accepted the latest Fox offer.

Jeremy Wright, who replaced Matt Hancock as Britain's culture and media secretary earlier this week, announced the clearance of Fox's bid on Thursday after months of regulatory review. News Corp., which is controlled by the Murdochs, withdrew its bid for Sky soon after.

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