The 21st century Fox made an offer to purchase on the Sky. And' as to say that Murdoch wants to buy Murdoch, saw that the australian mogul controls both the groups. And the two groups are already intertwined: the Fox, which is the result of the organisational restructuring of News Corporation (which was closed) in 2013, checks in with 39% of the giant of pay tv. The news is that yesterday, the american group has launched an offer to purchase from 10.75 m pounds sterling in cash per share (a price that the title is not seen in April) in order to detect the shares not already owned, valuing the entire group of television 18.5 billion pounds. To conduct the negotiations, Sky has formed a committee of independent directors, given that the target company is controlled by the bidder. James Murdoch, chairman of Sky, not a party as he is the ceo of 21st Century Fox.
The details of the 6 January
A note has stated that the agreement on price was reached by the independent directors of the two boards, even though “some aspects of the agreement still have to be discussed,” and therefore “there can be no certainty an offer from 21st Century Fox, nor on the terms of the offer”. Of concrete, there is a manifestation of interest, which will be detailed on the 6 of January. The board of Sky, assisted by Morgan Stanley, Pjt Partner, and Barclays has announced its intention to “recommend to the shareholders of Sky to accept the offer, provided that agreement is reached on all terms”. According to the council, the offer of Murdoch represents “a premium of 40% on the closing price of the last December 6, the last day before the presentation of the offer, and a premium of 36% on the close of 8 December, the day before the announcement” yesterday.
The “discount” with the Brexit
The operation is industrial because this is the way Murdoch unifies television platforms, Sky and Fox in particular. But it is also financial, because as a result of the depreciation of the pound on the dollar is at a discount of almost 20% compared to the exchange pre-Brexit. Rupert Murdoch wants to consolidate his empire. And this is the second attempt. In June 2010, News Corporation had launched a bid of 8 billion pounds on Sky, which was then called British Sky Broadcasting. But the operation, which would have concentrated the media sector in the United Kingdom, went up in smoke. In July 2011, News Corporation threw in the towel because of the scandal that broke out on his newspaper, News of the World about the alleged means employed by the journalists of the tabloid in order to collect information, with phone hacking and abusive corruption of police officers. News Corporation then disbanded for the emergence of 21st Century Fox, where have been colle cted the task for television and cinema, and News Corp, which has inherited the publishing business.
December 9, 2016 (change on December 10, 2016 | 08:50)
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