According to Bloomberg, on Saturday, Comcast outbid rival Fox-Disney in its pursuit of European pay-channel Sky, acquiring Sky for approximately $39 billion.
Goldman Sachs, Deutsche Bank and JPMorgan committed to providing bridge financing to support 21st Century Fox’s £15.325 billion ($20.18 billion) bid to purchase UK-based media company, Sky. Law firm Simpson Thacher is representing 21st Century in its bidding war with Comcast.
The Wall Street Journal reported that the mergers of AT&T and Comcast will put the companies at risk of becoming “the most indebted companies in the world.”
Comcast launched its bid to snatch 21st Century Fox from Walt Disney with a letter sent to the Fox board of directors outlining an all-cash offer to acquire the businesses for a total cost of $4.02 billion.
Reuters reported that Comcast is preparing a $60 million all-cash bid to usurp Disney’s $52 billion offer for 21st Century Fox’s media assets.
Goldman Sachs and a group of banks committed to providing a £12.2 billion ($15.05 billion) bridge loan facility to finance 21st Century Fox’s acquisition of UK-based media company, Sky.