Disney Could Have to Pay More for Sky Following Its Latest Offer for Fox

Britain’s commercial-takeover regulator is reviewing the amount that Disney would be obliged to offer for Sky if its deal to buy various 21st Century Fox assets succeeds.

The U.K. Takeover Panel said in April that if Disney completed its deal for Fox assets, including 39% of Sky, before Fox concluded its own attempt to buy out the remainder of the European pay-TV giant, Disney would be obliged to make a £10.75 per share offer for all of Sky.

But since that announcement, Comcast has submitted a bigger bid for Sky – a £12.50-per-share, £22 billion offer – and Disney has made a new, richer $71.3 billion offer for Fox. Sky’s independent shareholders have argued that, as Disney’s bid for Fox has increased, the amount that Disney must offer them for their Sky stock should also go up.

The panel, which supervises and regulates takeovers in the U.K., said it would consider that issue. Various interested parties have been in touch with the panel, it said in a statement Thursday.

“The Executive has received submissions from a number of parties expressing diverging views in relation to this matter, including from Disney, Fox and the independent directors of Sky,” it said. “The Executive is considering what impact the 20 June increase [in Disney’s offer for Fox] should have on the consideration payable under the Chain Principle Offer and will make a further announcement in due course.”

No time frame was set for a decision. Both Disney’s attempt to buy Fox, and Fox and Comcast’s attempt to buy Sky, are ongoing. In the U.K., Fox has committed to offloading Sky News to Disney to get its Sky deal over the line. The government has said the deal would finally get its approval should that happen.

Comcast’s offer for Sky has received European approval, and the British government has said it poses no major anti-competition issues.

More TV

  • ‘Big Brother’ Set for German Comeback

    ‘Big Brother’ Set for German Comeback on Sat.1

    “Big Brother” is returning to German screens after a five-year break. Sat.1 will air the German version of the show, which will coincide with the 20th anniversary of the Endemol format that paved the way for a raft of other unscripted shows around the world. Sat.1 said it would also run a celebrity version of [...]

  • ‘All Creatures Great and Small’ Gets

    ‘All Creatures Great and Small’ Gets Reboot by PBS, Viacom’s Channel 5

    A new adaptation of “All Creatures Great and Small” is in the works for Viacom’s Channel 5 in the U.K. and Masterpiece on PBS in the U.S. The source books by James Herriot, about country veterinarians in 1930s rural England, were made into a much-loved 1978-90 British series that ran to 90 episodes, which also [...]


    Viacom Adds Pluto TV Drama, Food, and Movies to Channel 5’s On-Demand Service

    Viacom is adding a trio of channels from its recently-acquired Pluto TV to My5, the on-demand service of Channel 5, the U.K. free-to-air broadcaster it also owns. Ad-supported OTT service Pluto TV is already available in the U.K., but the My5 deal widens its distribution. It also bulks up My5 at a time when traditional [...]

  • Whoopi Goldberg addresses the crowd while

    Inside World Pride's Opening Ceremony: An LGBTQ Celebration With a Tinge of Politics

    World Pride officially kicked off on Wednesday night at the Barclays Center in Brooklyn. About 8,000 people packed into the arena for a three-hour show that began with Cyndi Lauper singing her hit “True Colors.” The performance ended with a gaggle of dancing drag queens who pranced alongside Lauper as she turned the train of [...]

  • Democratic presidential candidate Massachusetts Sen. Elizabeth

    The Messy NBC Democratic Debate Proves the Need for a Tier System (Column)

    The opening night of the first debates of the 2020 Democratic Party primaries brought — even by the standards of such way-far-out confrontations between candidates for whom the election remains a far-off dream — vastly more empty drama than new information. But then, that may have been by design. NBC News’s organization of the debates, [...]

  • Max Wright Dead

    'Alf' Actor Max Wright Dies at 75

    Max Wright, best known for playing patriarch Willie Tanner on the sitcom “Alf,” died Wednesday. He was 75. Wright’s family confirmed his death to TMZ. The actor died in his home in Hermosa Beach, Calif., after years of battling cancer. Wright was diagnosed with Lymphona in 1995. Wright is most famous for his role as [...]

  • Greyson Chance -Gabby Barrett Alejandro Aranda

    Greyson Chance, 'Idol' Alums Gabby Barrett and Alejandro Aranda Sign Major Label Deals

    Two “American Idol” alumni — Gabby Barrett and Alejandro Aranda — as well as viral star Greyson Chance all announced new major label recording contracts this week. Barrett, who finished in third place of the first season of the rebooted ABC version of “Idol,” has joined the roster of Warner Music Nashville. The singer had [...]

More From Our Brands

Access exclusive content