The wily media mogul finds himself in a battle to secure a Hollywood ending to his reign
Poor old Rupert Murdoch. A media titan can’t even break up his own empire these days without gate-crashers turning up to spoil the show. Comcast’s £22bn bid for Sky is bold, aggressive and cutely timed – qualities associated with Murdoch in his pomp – and, very probably, marks the start of a shoot-out for the UK satellite broadcaster.
The open question is who will to go head-to-head with Comcast. Should it be Murdoch’s 21st Century Fox, whose current £10.75-a-share cash offer for Sky has been trumped by 16% by Comcast? Or should Disney, in the process of trying to buy the bulk of Fox via a deal that includes the 39% stake in Sky, take matters in its own hands and make a direct counter-offer?