With 21st Century Fox’s acquisition of Sky, Europe’s top pay-TV conglomerate, the tension and speculation seems to be building with regard to Fox’s attempt to dominate content and distribution on the continent of Europe.
Fox’s $23.3 billion buy out of Sky may just make up for the company’s failed attempt to buy out Time Warner back in 2014 and it just may give them the content dominance they have been searching for. In addition, Fox is betting that Sky’s direct-to-consumer experience will give them some immediate leverage in other international markets.
In a prepared statement, Fox said that, “A proposed transaction between 21st Century Fox and Sky would bring together 21st Century Fox’s global content business with Sky’s world class direct-to-consumer capabilities which have made it the number one premium pay-tv provider in all its markets.”
Rupert Murdoch, Fox’s owner, had tried to buy Sky back in 2011 but his bid was foiled over a huge phone hacking scandal that erupted in England that had dragged Murdoch down for a while. None the less, England, and Europe, are both starting to wonder if it is such a great idea as Fox owns three of England’s largest daily newspapers as well as its largest pay-tv company.
Sky currently has 22 million customers spread across five major countries in Europe to include England, Austria, Italy, Ireland and Germany. Previous to the purchase, Fox had already owned a 39% stake in Sky.
The acquisition will, most assuredly, give Fox a dominant position with regard to content distribution both on the world wide web and for television. Fox continued to say that the deal “…would also enhance Sky’s leading position in entertainment and sports and reinforce the UK’s standing as a top global hub for content generation and technological innovation.”
All of this has been setting media analysts buzzing about it potentially meaning that other media giants such a Vodaphone will soon have to make their own moves or risk being shut out by Murdoch and his Fox machine.
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