SKY-HIGH PRICE?
SKY subscription prices could rise as Comcast looks to claw back some of the €33.85billion it paid for the broadcaster in a takeover battle.
The US cable giant trumped a bid by Rupert Murdoch’s 21st Century Fox during a blind auction process.
Murdoch’s top bid to try to secure outright control of the company he set up 28 years ago was €30.73billion. He retains a 39% stake.
Comcast chairman executive Brian Roberts said: “Sky is a wonderful company with a great platform, tremendous brand and accomplished management team.
“This acquisition will allow us to quickly, efficiently and meaningfully increase our customer base and expand internationally. We now encourage Sky shareholders to accept our offer, which and chief we look forward completing before end of October 2018.”
The competition for the pay-tv giant, which has the rights to show Game of Thrones and Premier League football, to the Sky’s TV hits include Game of Thrones
was fierce – and Comcast may now look to recoup some of its outlay, consumer experts warn.
Russ Mould, investment director at broker AJ Bell,
Someone has to foot the bill and this tends to be consumers GOCOMPARE’S MARTYN JOHN
said: “Comcast is spending billions on acquiring Sky and one way they can recoup that money is by raising prices.”
Martyn John, of Gocompare, said “someone has to foot the bill and in the past this tends to be consumers”.
Around 23 million households across Europe have subscription packages with Sky. It is also known for developing cutting-edge technology and makes a lot of its own content.
Comcast intends to use Sky to counter the streaming services offered by Netflix and Amazon, plus the trend for watching content on personal digital devices such as mobile phones and tablets.
Sky has yet to announce any price rises.
The broadcaster and Comcast were contacted for comment.
ON FEE INCREASES