Comcast dating online
“It’s not without risk,” said Ian Olgeirson, lead pay-TV analyst for Kagan research, part of S&P Global Market Intelligence.
“There are “clouds hanging over some of this.” Despite a record of successful acquisitions over decades, Comcast stock is down more than 10 percent since it announced its intention to bargain for Sky and about 20 percent off its 52-week high, part of a broad retreat in legacy media stocks threatened by social media platforms and streamers.
Rupert Murdoch reached a deal to sell about .4 billion in Fox assets, including Sky, to the Walt Disney Co. By contrast, China Telecom, the globe’s largest pay-TV operator, has 73.3 million TV subscribers, Kagan says.
Comcast said on Monday that it has not taken any action since its announcement on Feb. Industry observers speculate that Comcast’s bid for Sky may be part of a broader effort to pry Fox assets out of Disney’s hands.
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