Tue. Oct 22nd, 2019

The CEO of Fox leaves the board of directors of Sky

The CEO of Fox leaves the board of directors of Sky


The CEO of 21st Century Fox and son of Rupert Murdoch, James Murdoch, has left on Tuesday, along with six other executives, the board of directors of Sky after having agreed with Comcast the sale of 39% of the British chain that was held by your company, as detailed in a statement.

Fox was engaged in a bidding war with Comcast to take over Sky, but last September UK regulators decided that the purchase would be decided in an auction, which ended up winning Comcast by offering 17.28 pounds per share.

After deciding the result, 21st Century Fox decided to accept the offer presented by his rival and sell him 39% of the capital stock of Sky for 11,600 million pounds (13,000 million euros).

The purchase of the shares that were held by Fox has raised to 77% the amount of titles of the British chain that are held by Comcast.

"We are delighted to be the majority owner of Sky," said Comcast President and CEO Brian Roberts. "Our global leadership in technology and content paves the way to accelerate the investment and growth of the 'Sky' brand and its platforms," ​​he added.

As a result of the transaction, the credit rating agency S & P Global placed 21st Century Fox on the positive special review list, from 'in development', while maintaining the 'BBB +' note as a long-term issuer.

For its part, the agency Moody's put in review for a possible increase the rating 'Baa2' as a long-term issuer of Sky, because the Comcast note is two steps above, in 'A3'.

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