FIRST AIRED: December 12, 2016

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>> A major shareholder in Sky TV will vote against 21st Century Fox's $14 billion takeover bid. The investor telling Reuters that the bid is quote far too low. A second stakeholder saying it's also unhappy with the deal. Reuters UK deputy bureau chief, Kate Holton.>> There's also some concern, obviously Murdoch already owns 39% of Sky.
And the feeling is that possibly the directors on the board aren't as independent as they should be. And they appear to have agreed the terms pretty quickly. So there's starting to be a bit of a pushback building against this one.>> Rupert Murdoch's Fox offered 10 pounds and 75 pence a share in cash on Friday in its second attempt to buy the 61% of the business it doesn't already own.
The deal would give Fox control of a pay TV network spanning 22 million households In Britain, Ireland, Austria, Germany, and Italy. Sky's independent directors backed the latest offer, but analysts at Citibank have described it as a low-ball bid.>> I think it's unlikely that they'll come back with a higher price.
I think they know that if they walk away the Sky's share price will fall a lot. Also Sky has a relatively tough time ahead of it. There are a fewer customers for them to sign up, and the competition is very high, and the price for content of sports writers, etc., is incredibly high.
So Murdoch's Fox may just be betting that shareholders will decide to take the money and accept it.>> Reuters sources say Fox pounced after June's Brexit vote hit the pound and sent Sky's share price tumbling. A Sky's spokeswoman declining to comment.