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Murdoch bids for Sky on cheap after Brexit vote |
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#1 |
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Join Date: Apr 2014
Posts: 10,626
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Murdoch bids for Sky on cheap after Brexit vote
Hmm..... what were many of us saying about motives of newspapers. 21st Century Fox in bid approach for Sky http://www.bbc.co.uk/news/business-38267199 Quote:
Media tycoon Rupert Murdoch controls 21st Century Fox, which already owns a 39.1% stake in Sky.
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Sterling's 16% fall against the US dollar in the wake of the Brexit vote has made UK companies more attractive targets for foreign companies.
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"Sky has not performed well in the UK stock market this year, and is seen as a Brexit loser. Fox is of course also a dollar bidder, and the collapse in sterling makes Sky a less expensive purchase than pre-Brexit," he said.
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#2 |
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Join Date: Apr 2014
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Bloomberg view of deal. Again mentions Brexit. https://www.bloomberg.com/news/artic...pounds-a-share Quote:
Murdoch has long made clear his desire to own all of Sky. He was thwarted in a 2010 attempt to buy out other shareholders for 7.8 billion pounds. The proposal was derailed by revelations that two of his newspapers hacked into the mobile phones of celebrities and politicians. Murdoch was bound to take another run at Sky, said Mark Lewis, a lawyer who represented the family of Milly Dowler, a murdered schoolgirl whose hacked phone became a central part of the scandal.
“There are three things in life that are inevitable,” Lewis said. “Death, taxes, and Rupert Murdoch taking over Sky.” |
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#3 |
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Join Date: Jun 2006
Posts: 40,361
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I think most people assumed Murdoch already owned it anyway.
I expect we will all survive - and no one forces anyone to have a Sky package. |
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#4 |
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Join Date: Apr 2014
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Quote:
I think most people assumed Murdoch already owned it anyway.
I expect we will all survive - and no one forces anyone to have a Sky package.
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#5 |
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Join Date: Mar 2016
Posts: 811
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Read: http://forums.digitalspy.co.uk/showt...p?t=2193207#13
In short, he's offering more cash to shareholders than last time anyway. |
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#6 |
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Join Date: Oct 2015
Posts: 3,670
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Quote:
Read: http://forums.digitalspy.co.uk/showt...p?t=2193207#13
In short, he's offering more cash to shareholders than last time anyway.
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#7 |
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Join Date: May 2005
Posts: 59,745
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Quote:
In short, he's offering more cash to shareholders than last time anyway.
I'm not fan of Murdoch but it's hard to get worked up about this deal since in all practical senses he already controls Sky as the largest shareholder |
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#8 |
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Join Date: Dec 2008
Location: The toe.
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Apparently 5 years is what it takes to get over a disgusting scandal.
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#9 |
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Join Date: Jan 2006
Posts: 9,080
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Quote:
I think most people assumed Murdoch already owned it anyway.
I expect we will all survive - and no one forces anyone to have a Sky package. |
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#10 |
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Join Date: Jul 2010
Posts: 586
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Quote:
And at least Brexit put an end to all these ruling elites eh?
'The control of information is something the elite always does, particularly in a despotic form of government. Information, knowledge, is power. If you can control information, you can control people'. Tom Clancy.
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#11 |
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Join Date: Jul 2003
Location: Pimlico, central London, UK
Posts: 14,889
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So Brexit has worked fantastically for Murdoch, as he has achieved one of his biggest aims in owning 100% of Sky. His media empire will have even more leverage on politicians in post Brexit Britain, once the EU and that extra layer of legislation is out of the way.
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#12 |
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Join Date: Feb 2006
Posts: 5,810
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Well he didn't and the plunging of sterling post brexit vote has enabled him to achieve a life long goal owning all of Sky. Fancy that. I'm sure he never even considered it when he was championing Brexit.
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#13 |
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Join Date: Nov 2009
Location: Lancashire, N. England
Posts: 4,710
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Quote:
Apparently 5 years is what it takes to get over a disgusting scandal.
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#14 |
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Inactive Member
Join Date: Jan 2008
Posts: 2,229
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Quote:
Hmm..... what were many of us saying about motives of newspapers.
21st Century Fox in bid approach for Sky http://www.bbc.co.uk/news/business-38267199 Is Sky TV compulsory to pay for like the BBC is if you have a TV or is this just an excuse for the OP to mention Brexit yet again? |
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#15 |
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Join Date: Jun 2006
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What is political about this exactly ?
Is Sky TV compulsory to pay for like the BBC is if you have a TV or is this just an excuse for the OP to mention Brexit yet again? ![]() Presumably Murdoch is not the only person who has higher purchasing power in dollars. And people can't be forced to sell their Sky interests if they don't want to. Maybe the OP would like us to go back to a world of 5 channels. With Sky you can watch hundreds of channels including multiple news channels from Fox News to CNN to Al Jazeera to Russia today and more. If you only get your information from one source you can't really form an objective opinion. We have more choice thanks to Sky than we have ever got from the BBC and no one forces you to pay for it. And that's thanks to Murdoch and others who helped set it up initially. |
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#16 |
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Join Date: May 2005
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Of course everything is the fault of Brexit now
![]() Presumably Murdoch is not the only person who has higher purchasing power in dollars. And people can't be forced to sell their Sky interests if they don't want to. |
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#17 |
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Join Date: Jun 2006
Posts: 40,361
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Of course the weaker pound means that it is now more expensive for Sky to buy the rights to US TV shows, movies and international sporting events. That's sure to lead to price rises.
There is always the BBC with their endless reruns of property porn shows and other cheap daytime tv - Homes under the hammer, Escape to the country, escape down under..There are only so many toilets and dodgy kitchens in cheap flats anyone should be exposed to. Maybe instead of all of us paying the licence fee they should get the estate agent, DIY store, building and mortgage industry to pay for the BBC. ![]() Frankly I would rather pay a bit more to actually watch some quality tv! |
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#18 |
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Join Date: Dec 2001
Location: West London
Posts: 24,319
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Maybe the OP would like us to go back to a world of 5 channels. With Sky you can watch hundreds of channels including multiple news channels from Fox News to CNN to Al Jazeera to Russia today and more. The exception, of course, is live sport. If Sky hadn't introduced the idea of paying a hefty premium for live sport we might still be in the dark ages, watching the results on a teleprinter every Saturday afternoon. But those of us who want to watch live football end up paying a very high price for it, and that's down to Sky's power in creating a market where competition pushes prices up, not down. |
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#19 |
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Join Date: Dec 2004
Posts: 7,947
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yes...and no more pesky Lib-Dems around now to " declare war" on them.
The SNP have traditionally supported Murdoch, especially when they attack the BBC, so I expect them to keep noise to a minimum. Certainly nothing that will risk putting an end to their support from the Scottish Sun. |
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#20 |
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Join Date: Mar 2014
Posts: 1,722
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I wonder if the competition commission will step in again?
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#21 |
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Join Date: Jan 2014
Posts: 2,334
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Quote:
Hmm..... what were many of us saying about motives of newspapers.
21st Century Fox in bid approach for Sky http://www.bbc.co.uk/news/business-38267199 |
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#22 |
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Join Date: Dec 2002
Location: Nottingham, UK
Posts: 1,064
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Quote:
So Brexit has worked fantastically for Murdoch, as he has achieved one of his biggest aims in owning 100% of Sky. His media empire will have even more leverage on politicians in post Brexit Britain, once the EU and that extra layer of legislation is out of the way.
Probably to be told what to do next about Brexit. |
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#23 |
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Inactive Member
Join Date: May 2009
Posts: 17,092
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How is he bidding for it on the cheap when he has increased his bid by more than 50% since 2010 and his offer is more than what the stocks are currently trading for?
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#24 |
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Inactive Member
Join Date: Nov 2002
Location: 47°9′ S, 126°43′ W
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Might it be worth the Lib dumbs offering a deal to stop this and get a few more votes.
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#25 |
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Join Date: Dec 2002
Location: Nottingham, UK
Posts: 1,064
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Quote:
How is he bidding for it on the cheap when he has increased his bid by more than 50% since 2010 and his offer is more than what the stocks are currently trading for?
Rupert Murdoch. http://www.bbc.co.uk/news/business-28479200 |
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