FIRST AIRED: July 12, 2018

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Transcript

00:00:01
>> Bidding and out bidding each other over and over. Hours after Rupert Murdoch raised an offer for Britain's Sky TV, rival Comcast raised its offer in a deal valuing Sky at $34 billion, topping Murdoch's offer from earlier in the day that would have valued it at $32.5 billion.
00:00:21
Reuters Kate Holton says the bidding war reflects the shifting sands in the global entertainment industry.>> Well, we're seeing some absolutely enormous deals going on in the world right now. I think the reason for this is because of the growth and success of companies like Netflix and Amazon.
00:00:36
And what it means is that the certain traditional major media companies feel that they have to, right now, have the best assets to be able to compete.>> The saga has been ongoing since 2016. Murdoch already owns 39% of Sky. His attempts to buy more in the past drew criticism from politicians wary of his influence over the press.
00:00:55
Earlier this year, Comcast launched its rival bid, only for 21st Century Fox to offer a renewed proposal that satisfied the British government's concerns. Disney is also in the fray, but for Fox assets further complicating proceedings. Sky's pay TV buys the winner access to a loyal customer base in 32 million households.