Comcast has gatecrashed Rupert Murdoch’s takeover of Sky with a rival £22bn offer, sparking a bidding war for Britain’s biggest pay-TV broadcaster.
The UK takeover panel ruled this month that after Disney completes its Fox deal it must make a full takeover bid for Sky, even if the competition regulator quashes Murdoch’s attempt to buy the 61% he doesn’t already own.
Comcast said taking over Sky would result in savings of $500m annually “with only limited impact on headcount expected”.
Fox owns 39% of Sky and submitted its bid to take full control in December 2016, but the deal has been delayed by regulatory issues.