Five years after abandoning his previous bid in the wake of the phone hacking revelations, the media tycoon is reviving his attempt, through his 21st Century Fox organization, to take full control of Britain’s biggest pay-TV broadcaster. The BBC reports:
Fox said Sky’s directors had indicated that they were willing to recommend the proposed offer. According to Reuters’ calculations, Fox would pay £11.25bn for the stake in Sky that it did not already own.Sterling’s 16% fall against the US dollar in the wake of the Brexit vote has made UK companies more attractive targets for foreign companies. Fox is required to “clarify its intentions” by 6 January, or walk away for at least six months under UK takeover rules.
In the US, meanwhile…
AMERICA IN TRANSITION
At least there’s this…