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Media Entertainment

Bidding War for Sky Continues

The bidding war for European pay TV provider Sky continues as 21st Century Fox upped its offer to buy the 61% remaining stake in Sky that it doesn’t already own. Comcast came back with a higher offer for all of Sky, The Wall Street Journal reported.

The bidding war of course is a sideshow to the main event: the battle between Comcast and Disney for the majority of 21st Century Fox assets. Disney is in the lead, but many people expect Comcast to come back shortly.

The Wall Street Journal notes that as Comcast and Disney continue to outbid each other for the Fox assets, that will result in an increase in value of Sky. As Sky gets pricier, a compromise where Comcast takes Sky and Disney takes the rest of the Fox assets is looking more likely.

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