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.
Comcast and Time Warner Cable announced their boards of directors approved a definitive agreement for Time Warner Cable to merge with Comcast. J.P. Morgan, others acted as advisors.
Reuters reported that Comcast has tapped JPMorgan Chase for advice in evaluating a potential bid for Time Warner Cable, sources told Reuters.
GE announced the sale of its remaining 49% common equity interest in its joint venture with Comcast, which includes NBCUniversal (NBCU), as well as the NBCU floors in 30 Rockefeller Center, for $18.1 billion.