Sky will soon look like the Sun...
Rupert Murdoch's 21st Century Fox will gain EU clearance for its full takeover of Sky, according to sources who whispered to Reuters. The newswire reported that two people familiar with the matter told it that EU regulators will approve the £18.5bn takeover. Back in December shareholders agreed the takeover of the British pay …
@ Mage "I guess either it's ego he is taking it over completely, or expects to get more money. It's not about actual control."
Not entirely. AIUI Sky, as a quoted company, pays tax on their profits before any payouts to shareholders, including 21CF. If Sky was a wholly owned subsidiary 21CF would have full access to the untaxed profits, with taxation happening further up the food chain at group level.
I'm neither lawyer nor accountant but that's my understanding - so it's not just about control, it's also about the filthy shilling it generates.
Well, they might be a bit more willing to give it a go now. Whilst we are still in the EU and subject to EU directives Ofcom is still able to make a contradictory ruling and as long as any legal stuff takes longer than two years they could chance it.
God I hope so. Murdoch (all of them) can fuck off.
Sky's biggest weakness is customers cancel their contracts - especially during the break between football seasons.
While Sky has all the box set and films, they still haven't made the breakthrough with normal television entertainment. A cursory glance on the overnight data shows that even E4 gets more viewers than Sky's 'flagship' Sky1 channel.
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