Comcast Is Now The Majority Owner Of Sky
Comcast announced this morning it has completed the acquisition of Sky Shares held by 21st Century Fox and that its offer for Sky has become unconditional. Comcast is now the majority owner of Sky and now holds more than 75% percent of Sky’s issued ordinary share capital.
Brian L. Roberts, Chairman and CEO of Comcast Corporation, said:
“We are pleased today to be the majority owner of Sky. Led by Jeremy Darroch and his superb team -- now together with Comcast -- our combined global leadership in technology and content paves the way for us to accelerate investment and growth in Sky’s brand and premier platforms. We are also fully committed to ensuring Sky News' future, maintaining its editorial independence, and preserving its strong track record for trusted, high quality, impartial news.”
Jeremy Darroch, Group Chief Executive Officer of Sky plc, said:
“Comcast have committed to investment in Sky, including our Osterley and European headquarters and we very much look forward to working with Brian and the Comcast team to achieve further growth and development of Sky’s business. Separately, Sky News will benefit greatly from Comcast’s funding commitments over the coming years and the arrangements that will be put in place to preserve and enhance its editorial independence.”