Hardboy
09 Aug 2017
Re: "Murdochs face more delays" This is disgusting. Bradley should be sacked. I'm not complaining over what the decision should be, it's the speed of decision which is appalling. There have been major takeovers which have been waved through by the Government in next to no time - and ones which can give a company a domination of a particular market - the Lloyds takeover of HBOS is the best example; but more recently Lloyds takeover of MBNA credit cards is another. With Fox's takeover of Sky - it had all been investigated 3 years ago or whatever it was. Any investigation should be so much simpler and quicker having been through it all once - they just have to check what's different. It's been 8 months since the bid. No bidder or company being bid for should have to wait that long for a decision. They each have businesses to run. It's completely unprofessional & incompetent. Any longer delay & we'll have a Labour Government nationalising the Media!
El Kel
09 Aug 2017
"Murdochs face more delays" From The Telegraph, 8 Aug."Murdochs face more delays and scrutiny of Fox News in £11.7bn Sky takeover"The Government has erected a new obstacle to the Murdoch family's pursuit of full control of Sky, after asking the media regulator to look again at 21st Century Fox's record as a broadcaster.A spokesman for the Department for Digital, Culture, Media and Sport (DCMS) said: "Any referral decision by the Secretary of State must be taken on the basis of a valid assessment of all the relevant evidence."For this reason the DCMS has asked Ofcom to advise on a number of points arising from these representations."[link]
pyueck
24 Jul 2017
Re: From Telegraph I wouldn't say 'payout' would be the term I would use. A 10p dividend is less than 1% of the offer price and way less than the around 30p a year the share was paying before the takeover.I don't for one minute think that 21cnFox have any desire to delay things, but it does seem a bit harsh on Sky shareholders that during this delay the cash generated by the company will mainly go to the new owners not the current shareholders. Why didn't they put the dividend to be paid out at the same level as last years dividends or the equivalent of the cash flow generated during the period of delay?In any case more pressing issues for Sky shareholders to deal with. Final results are out this week. How bad do they need to be for 21cnF to walk? Very bad I suspect, but the longer this goes on the more headwinds I see coming. The extra costs of the German rights will be in next years HY results, Italian soon after, premier league rights to be decided about the turn of the year too.If I was a Sky shareholder I wouldn't be celebrating my 1% dividend, i would be be biting my nails hoping this whole thing is sorted asap.
nk1999
23 Jul 2017
From Telegraph "Sky shareholders are in line for a £171m payout as the £11.7bn takeover of the pay-TV giant by 21st Century Fox is repeatedly delayed by stumbles over regulatory hurdles.Scrutiny of the deal is now expected to continue into next year and trigger a 10p per share special dividend.The fail-safe payout was included in the terms of the takeover agreement to calm shareholder fears that controversy surrounding the Murdoch family could derail their ambition to own Sky outright for a second time. The company will report full-year results this week and has suspended its normal dividend while the Fox takeover faces scrutiny.Fox already owns 39pc of Sky so will receive a payout of around £67m. The remainder of around £105m will go to independent shareholders.The Murdochs were frustrated again last week when Karen Bradley, the Culture Secretary, said she needed more time to make a final decision on referring the merger to the Competition and Markets Authority (CMA). The move has stoked concern at Fox and Sky that the referral could be delayed until after Parliament returns from recess in September.The companies also fear the Government’s weakness in the Commons will allow opponents of the deal to force Ms Bradley to look again at Fox’s record on broadcasting standards. On advice from Ofcom she had previously said she would ask the CMA to investigate only the impact full Murdoch control of Sky would have on media plurality.The delays are a threat to Fox’s plans. Once launched, the CMA investigation could take up to six months, meaning Sky is likely to face a crucial Premier League rights auction before the deal is completed.Assuming the Murdochs win approval from the competition watchdog, Fox will then need the go-ahead from Sky shareholders. It has chosen to pursue a court-backed scheme of arrangement, which means a lower approval threshold of 75pc but at a minimum of two months takes longer than a normal takeover offer.The timetable is becoming uncomfortably tight for Fox. Its agreement with Sky includes a “regulatory long stop” date of Aug 15 next year. If regulatory scrutiny is not completed by then Fox would have to pay a £200m break fee and the deal would collapse. According to analysts at Jefferies, investors are pricing Sky shares to reflect a two-in-five chance Fox’s bid will fail. On Friday they closed at 970.5p, short of the £10.75 offer price.Sky has warned that uncertainty and delays to the deal could damage its ability to invest in the UK. The company’s full-year results this week are expected to show continued growth, however, with revenues topping £1bn per month for the first time. Sky is also expected to highlight its growing reach after Netflix hit the 100 million subscriber milestone last week. It is understood Sky’s combination of satellite and Now TV streaming subscriptions is now accessed by the same number of people.The company is aiming to accelerate the growth of Now TV with a launch of the service this year in Spain. The plans will mark Sky’s first expansion beyond its satellite footprint."
El Kel
21 Jul 2017
Sky's reply to delay Bradley is like a rabbit paralysed in headlights, I really don't think she has a clue what to do here.I don't know how businesses are expected to plan and operate with such idiotically long delays.An unequivocal and firm statement in response from Sky;"Sky disappointed by 'delay' in Fox takeover investigation decisionIt said: "Businesses require a level of certainty in order to plan and invest."As such, we are disappointed by this further delay. Almost eight months have now elapsed since the announcement of the offer, with decisions to clear the transaction received from all other relevant regulatory authorities, including the European Commission and the relevant authorities in all four of the other main jurisdictions in which we operate."[link]
keith4
22 Dec 2014
Sky could do the the help of motive telivison a group going to be big in the future and bt could do with motive help as well
