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Home / Business / Sky reports gains while Fox and Comcast continue to wage war

Sky reports gains while Fox and Comcast continue to wage war




  Sky will report full year results next week (Chris Radburn / PA)
Sky will report revenue for the full year next week (Chris Radburn / PA)

Sky will see a rebound in profits for next week Year, which will help maintain its attractiveness as a takeover target as 21st Century Fox and Comcast continue their bidding war.

According to consensus forecasts, analysts forecast a £ 1.55 billion increase in operating profit for the twelve months prior to June 30 (2008: £ 1.42 billion).

This almost brings the British broadcaster back to the winnings he saw in 2016, having dropped a year later, after earning £ 629 million in top English football costs.

Revenues are expected to rise 5% from £ 12.9 to £ 13.6 billion

But its full-year results – which will be released Thursday – are overshadowed by a takeover bid involving it Bringing full ownership of Rupert Murdoch's 21st Century Fox or Comcast, both of whom have put forward multi-million pound deals

Comcast has recently increased its bid for Sky to £ 26 billion, just hours after Fox's bid on £ 24 , Has raised 5 billion.

Now all eyes are on Fox to see if it will increase its bid to Sky's 61% that it does not belong to

Comcast – the NBC Universal and is the largest cable operator in the US Also dropped separate plans to bid on some of Fox's entertainment assets to focus on its recommended offering for Sky. [19659017] It was a spectacular year for Sky's shareholders, who saw their share price rocketing thanks to the bidding war between Comcast and Fox
Laith Khalaf, Hargreaves Lansdown

Laish Khalaf, Senior Analyst at Hargreaves Lansdown, said: "It was a spectacular year for Sky shareholders who saw their stock price rocket thanks to the bidding war between Comcast and Fox. [19659004]" The Underlying Business is also doing well and has successfully carried out an auction of the Premier League rights where happily If the bar has not been hoisted, the cost of Sky's purchase of its large share of games has been incurred.

"With the Sky Comcast offering, shareholders are being hunted to pieces, the only downside is that they have to think about where to reinvest this money."

  ipanews_859f200f-0017-4b0c-ab1a-556f87d4ce07_embedded237470461 [SecretaryofCultureJeremyWrightsaidheagreedwithhispredecessor'sdecisiontoacceptFox'splannedsaleofSkyNewstoDisney(KirstyO'Connor/PA)</figcaption></figure>
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<p>  Fox recently received the British government's determination to take over Sky , Newly appointed Culture Minister Jeremy Wright said he agreed with his predecessor's final decision on the proposed sale of Sky News to Disney – a move to overcome Fox's final regulatory hurdle. </p>
<p>  There were fears over the impact of Fox's acquisition of Sky on British media, as the Murdoch family also owns News Corp, publisher of a number of newspapers including The Sun and The Times. </p>
<p>  Under his plans to appease government concerns about media pluralism, Fox has promised to outsource Sky News to Walt Disney and Provi de Disney's own Sky News channel with annual funding of at least £ 100 million a year [19659004] The government has already separately approved Comcast's offer for Sky. </p>
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<p class= Press Association


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