LONDON (AP) — Comcast, the owner of NBC and Universal Pictures, has launched an ambitious takeover bid for British satellite broadcaster Sky, an offer which threatens to thwart the ambitions of media mogul Rupert Murdoch.
The firm is offering 22.1 billion pounds ($29.50 billion) for Sky. The possible cash offer values each Sky share at 12.50 pounds per share, which represents a 16 percent premium to the bid from Murdoch's 21st Century Fox.
Murdoch's bid to buy the 61 percent of Sky he does not already own has been slowed by regulatory problems in Britain. Fox's bid for Sky is accompanied by a broader takeover offer for Fox from Walt Disney.
Shares in Sky surged Tuesday after the announcement of Comcast's interest was made. Its share price jumped 19 percent to 13.10 pounds.