Long in the making, BSkyB has closed its deal to acquire Sky Italia and Sky Deutschland in a deal worth more than $9 billion. Nearly 40 percent of BSkyB is owned by 21st Century Fox, which owned 100 percent of Sky Italia and 57 percent of Sky Deutschland.

Analysts expect 21st Century Fox to use the $7.2 billion in after-tax proceeds to up its $85-per-share $80 billion bid for Time Warner, which so far has been rejected. Time Warner has gone so far as to change its corporate bylaws to prevent shareholder votes in attempt to fend off a takeover by 21st Century Fox. Analysts and investors say that Fox will likely have to increase its offer to more than $100 per share in order to get Time Warner to bite.

On Monday, Bloomberg reported that Fox would be willing to give Time Warner shareholders representation on its board in an attempt to sweeten the offer.

While it has been speculated that other media and technology giants, such as Google or Verizon, might be tempted to throw their hats in the ring, no such offer has yet come forward.

READ MORE: New York Times

Brief Take: The closing of this deal means 21st Century Fox is that much closer to acquiring Time Warner, a massive media merger that would have huge implications across the content industry. 21st Century Fox owns such entities as the Fox Broadcasting Network, FX Networks, Fox Sports and Twentieth Century Fox, while Time Warner owns Warner Bros. Television, Turner Broadcasting, HBO and many other content assets.

Tags:


  Save as PDF