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Twenty-First Century Fox in Talks for Possible Sky Takeover
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Rupert Murdoch’s Twenty-First Century Fox, Inc. (FOXA - Free Report) has made a “Possible Offer” to purchase the remaining 61% stake in Europe’s leading pay-TV broadcaster Sky plc. The company already owns 39.1% stake in Sky. The buyout will strengthen the company’s position in pay-TV network in Britain, Ireland, Austria, Germany and Italy.
It intends to acquire the rest of the stake at a price of £10.75 ($13.52) per share. Per report, the total value of the deal will come in around $14.1 billion. As of 2016, Sky already has 21 million pay-TV subscribers and 30,000 employees. Moreover, the deal will strengthen Sky’s position in entertainment and sport.
Twenty-First Century Fox has outperformed the Movie/TV Production/Distribution industry in the past five years with a return of more than 63% compared with nearly 41% for the latter. The company is focused on enhancing its portfolio of regional sports channels (RSNs) to strengthen Fox Sports Media Group’s position in the lucrative sports entertainment business. It competes with Walt Disney Company’s sports coverage network, ESPN in this space. The company boasts of a well-recognized regional sports network, FSN (Fox Sports Net, Inc).
MSG Networks have surpassed the Zacks Consensus Estimate in the trailing four quarters, with an average earnings beat of 12.1%. Moreover, the company’s shares have gained more than 20% in the past three months.
Netflix share have gained 24% in the past three months and it has an impressive long-term earnings growth rate of 23.8%.
NTN Buzztime has long-term earnings growth rate of 20%.
Zacks' Top Investment Ideas for Long-Term Profit
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Twenty-First Century Fox in Talks for Possible Sky Takeover
Rupert Murdoch’s Twenty-First Century Fox, Inc. (FOXA - Free Report) has made a “Possible Offer” to purchase the remaining 61% stake in Europe’s leading pay-TV broadcaster Sky plc. The company already owns 39.1% stake in Sky. The buyout will strengthen the company’s position in pay-TV network in Britain, Ireland, Austria, Germany and Italy.
It intends to acquire the rest of the stake at a price of £10.75 ($13.52) per share. Per report, the total value of the deal will come in around $14.1 billion. As of 2016, Sky already has 21 million pay-TV subscribers and 30,000 employees. Moreover, the deal will strengthen Sky’s position in entertainment and sport.
Twenty-First Century Fox has outperformed the Movie/TV Production/Distribution industry in the past five years with a return of more than 63% compared with nearly 41% for the latter. The company is focused on enhancing its portfolio of regional sports channels (RSNs) to strengthen Fox Sports Media Group’s position in the lucrative sports entertainment business. It competes with Walt Disney Company’s sports coverage network, ESPN in this space. The company boasts of a well-recognized regional sports network, FSN (Fox Sports Net, Inc).
Zacks Rank & Other Stocks to Consider
Twenty-First Century Fox carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth considering include MSG Networks Inc. , Netflix, Inc. (NFLX - Free Report) and NTN Buzztime, Inc. . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
MSG Networks have surpassed the Zacks Consensus Estimate in the trailing four quarters, with an average earnings beat of 12.1%. Moreover, the company’s shares have gained more than 20% in the past three months.
Netflix share have gained 24% in the past three months and it has an impressive long-term earnings growth rate of 23.8%.
NTN Buzztime has long-term earnings growth rate of 20%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>