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Sky Group Limited is a British
media Media may refer to: Physical means Communication * Media (communication), tools used to deliver information or data ** Advertising media, various media, content, buying and placement for advertising ** Broadcast media, communications deliver ...

media
and
telecommunications Telecommunication is the transmission of information by various types of technologies over wire, radio, optical or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that feasi ...

telecommunications
conglomerate, which is a subsidiary of
Comcast Comcast Corporation (formerly registered as Comcast Holdings)Before the AT&T merger in 2001, the parent company was Comcast Holdings Corporation. Comcast Holdings Corporation now refers to a subsidiary of Comcast Corporation, not the parent comp ...

Comcast
, and headquartered in
London London is the capital and largest city of England and the United Kingdom. The city stands on the River Thames in the south-east of England, at the head of its estuary leading to the North Sea. London has been a major settlement for two millen ...

London
, England. It has operations in the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Britain as a synonym for the United Kingdom. Some prefer to use Britain as shortha ...

United Kingdom
,
Ireland Ireland (; ga|Éire ; Ulster-Scots: ) is an island in the North Atlantic. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the second-largest island of the British Isles, ...

Ireland
,
Germany ) | image_map = | map_caption = | map_width = 250px | capital = Berlin | coordinates = | largest_city = capital | languages_type = Official language | languages = German | demonym = German | government_type = Federal parliamentary republi ...

Germany
,
Austria Austria (, ; german: Österreich ), officially the Republic of Austria (german: Republik Österreich|links=no, ), is a landlocked East Alpine country in the southern part of Central Europe. It is composed of nine federated states (''Bund ...

Austria
,
Switzerland ,german: Schweizer(in),french: Suisse(sse), it|svizzero/svizzera or , rm|Svizzer/Svizra |government_type = Federal semi-direct democracy under a multi-party assembly-independent directorial republic |leader_title1 = Federal Council |leader_name ...

Switzerland
,
Italy Italy ( it|Italia ), officially the Italian Republic ( it|Repubblica Italiana|links=no ), is a country consisting of a continental part, delimited by the Alps, a peninsula and several islands surrounding it. Italy is located in Southern Europ ...

Italy
and formerly
Spain , * gl|Reino de España, * oc|Reiaume d'Espanha, | | image_flag = Bandera de España.svg | image_coat = Escudo de España (mazonado).svg | national_motto = | national_anthem = | image_map = | map_caption = | image_map2 = | ...

Spain
. Sky is Europe's largest media company and
pay-TV Pay television also known as subscription television, premium television or, when referring to an individual service, a premium channel, refers to subscription-based television services, usually provided by multichannel television providers, but a ...

pay-TV
broadcaster by revenue (), with 23 million subscribers and more than 31,000 employees as of 2019. The company is primarily involved in
satellite television Satellite television is a service that delivers television programming to viewers by relaying it from a communications satellite orbiting the Earth directly to the viewer's location. The signals are received via an outdoor parabolic antenna commonl ...

satellite television
, producing and broadcasting. The current
CEO A chief executive officer (CEO), chief administrator, or just chief executive (CE), is one of a number of corporate executives in charge of managing an organization especially an independent legal entity such as a company or nonprofit institutio ...

CEO
is
Dana StrongDana Strong is an American business executive, and the CEO of Sky Group, a British media and telecommunications conglomerate. Previously, Strong was president of consumer services at Comcast Cable and held various roles at Liberty Global. Early life ...

Dana Strong
. Initially formed in 1990 by the equal merger of and
British Satellite Broadcasting British Satellite Broadcasting (BSB) was a television company, headquartered in London, that provided direct broadcast satellite television services to the United Kingdom. It started broadcasting on 25 March 1990. The company was merged with Sky ...

British Satellite Broadcasting
,
BSkyB Sky UK Limited is a British broadcaster and telecommunications company that provides television and broadband Internet services, fixed line and mobile telephone services to consumers and businesses in the United Kingdom. It is the UK's largest p ...

BSkyB
became the UK's largest digital pay television company. In 2014, after completing the acquisition of
Sky Italia#REDIRECT Sky Italia {{R from other capitalisation ...

Sky Italia
and
Sky Deutschland Sky Deutschland GmbH, branded as Sky, is a German media company that operates a direct broadcast satellite Pay TV platform in Germany, Austria and Switzerland (through Sky Switzerland). It provides a collection of basic and premium digital sub ...

Sky Deutschland
, the merged company changed its name to Sky plc. Prior to November 2018,
Rupert Murdoch Keith Rupert Murdoch ( ; born 11 March 1931) is an Australian-born American media mogul. Through his company News Corp, he is the owner of hundreds of local, national, and international publishing outlets around the world, including in the U ...

Rupert Murdoch
's
21st Century Fox Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media corporation that was based in Midtown Manhattan, New York City. It was one of the two companies formed from the 2013 spin-off ...

21st Century Fox
owned a 39.14% controlling stake in the company; on 9 December 2016, following a previous attempt under
News Corporation The original incarnation of News Corporation (abbreviated News Corp.) was an American multinational mass media corporation operated and owned by media mogul Rupert Murdoch and headquartered in New York City. Prior to its split in 2013, it was ...

News Corporation
that was affected by the
News International phone hacking scandal The News International phone-hacking scandal was a controversy involving the now-defunct ''News of the World'' and other British newspapers owned by Rupert Murdoch. Employees of the newspaper were accused of engaging in phone hacking, police brib ...

News International phone hacking scandal
, 21st Century Fox announced that it had agreed to buy the remainder of Sky, pending government approval. However, after a bidding war that included
the Walt Disney Company The Walt Disney Company, commonly known as Disney (), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded o ...

the Walt Disney Company
(which was, in turn, ), US media and telecoms conglomerate Comcast acquired the entirety of Sky in 2018 for £17.28 per share. Before the acquisition by Comcast, Sky was listed on the
London Stock Exchange London Stock Exchange is a stock exchange in the City of London, England. , London Stock Exchange had a market capitalisation of GBP £39 billion (US$26 billion ). It was founded in 1801, making it one of the oldest exchanges in the world. I ...

London Stock Exchange
and was a constituent of the
FTSE 100 Index The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. ...

FTSE 100 Index
and had a
market capitalisation Market capitalization, commonly called market cap, is the market value of a publicly traded company's outstanding shares. Market capitalization is equal to the share price multiplied by the number of shares outstanding. Since outstanding stock ...

market capitalisation
of approximately £18.75 billion (€26.76 billion) as of 2018.


History


BSkyB


Formation


British Sky Broadcasting (BSkyB) was formed by the merger of and
British Satellite Broadcasting British Satellite Broadcasting (BSB) was a television company, headquartered in London, that provided direct broadcast satellite television services to the United Kingdom. It started broadcasting on 25 March 1990. The company was merged with Sky ...

British Satellite Broadcasting
on 2 November 1990. Both companies had begun to struggle financially and were suffering financial losses as they competed against each other for viewers. ''The Guardian'' later characterised the merger as "effectively a takeover by News Corporation". ''Sky TV's launch: 'a wing and a prayer' '', media editor Maggie Brown, ''Guardian'' ''Organgrinder'' blog, 5 February 2009
Retrieved 24 December 2012.
The merger was investigated by Office of Fair Trading and was cleared a month later since many of the represented views were more concerned about contractual arrangements which had nothing to do with competition. The
Independent Broadcasting Authority The Independent Broadcasting Authority (IBA) was the regulatory body in the United Kingdom for commercial television (ITV and Channel 4 and limited satellite television regulation – cable television was the responsibility of the Cable Authority ...

Independent Broadcasting Authority
was not consulted about the deal; after approval, the IBA demanded precise details about the merger, stated they were considering the repercussions of the deal to ultimately determine whether BSB contracts were null and void. On 17 November, the decided to terminate BSB's contract, but not immediately, as it was deemed unfair to 120,000 viewers who had bought BSB devices. Sam Chisholm was appointed CEO in a bid to reorganise the new company, which, continued to make losses of £10 million per week. The defunct BSB's HQ,
Marco Polo House Marco Polo House (originally stylised as "Marcopolo") was a large marble-effect, glass-clad office building and TV studio at 346 Queenstown Road, facing Battersea Park in the London Borough of Wandsworth. It was built in 1987–1988 and completed ...

Marco Polo House
were sold, 39% of the new company's employees were made redundant to leave just under 1000 employees, many of the new senior BSkyB executive roles were given to Sky personnel with many BSB leaving the company. In April the nine Sky/BSB channels had been condensed into five, with EuroSport being dropped soon after the Sky Sports launch. Chisholm also renegotiated the merged company's expensive deals with the Hollywood studios, slashing the minimum guaranteed payments. The defunct '''' satellite was sold in December 1993 to Sweden's '''', and '''' went to Norway's ''
Telenor Telenor ASA (; or ) is a Norwegian majority state-owned multinational telecommunications company headquartered at Fornebu in Bærum, close to Oslo. It is one of the world's largest mobile telecommunications companies with operations worldwide, b ...

Telenor
'' in July 1992 after the
Independent Television Commission The Independent Television Commission (ITC) licensed and regulated commercial television services in the United Kingdom (except S4C in Wales) between 1 January 1991 and 28 December 2003. In this context, 'independent' indicates freedom from th ...

Independent Television Commission
(ITC) was unable to find new companies to take over the BSB licences and compete with BSkyB. News International received 50%,
Pearson PLC#REDIRECT Pearson plc {{R from move ...

Pearson PLC
17.5%, Chargeurs 17.5%, Granada 12%, Reed International 2% of the new shares in the company. By September 1991, the weekly losses had been reduced to £1.5M a week,
Rupert Murdoch Keith Rupert Murdoch ( ; born 11 March 1931) is an Australian-born American media mogul. Through his company News Corp, he is the owner of hundreds of local, national, and international publishing outlets around the world, including in the U ...

Rupert Murdoch
said "there were strong financial marketing and political reason

for making the compromise merger instead of letting BSB die. Many of the lessons had been learnt with more than half the running cost of the combined company". Further cuts in losses were a direct result of 313,000 new customers joining during the first half of 1991. By March 1992, BSkyB posted its first operating profits, of £100,000 per week, with £3.8 million weekly from subscriptions and £1 million from advertising, but continued to be burdened with £1.28 billion of debt. James Capel forecast BSkyB would still be indebted in 2000. In the autumn of 1991, talks were held for the broadcast rights for
Premier League The Premier League, often referred to outside the UK as the English Premier League, or sometimes the EPL, (legal name: The Football Association Premier League Limited) is the top level of the English football league system. Contested by 20 c ...

Premier League
for a five-year period, from the 1992 season. were the current rights holders for the
Football League The English Football League (EFL) (legal name: The Football League Limited) is a league competition featuring professional association football clubs from England and Wales. Founded in 1888 as the Football League, the league is the oldest such ...

Football League
, and fought hard to gain the new rights. ITV had increased its offer from £18m to £34m per year to obtain the new rights. BSkyB joined forces with the
BBC The British Broadcasting Corporation (BBC) is a public service broadcaster, headquartered at Broadcasting House in Westminster, London. It is the world's oldest national broadcaster, and the largest broadcaster in the world by number of emplo ...

BBC
to make a counter bid. The
BBC The British Broadcasting Corporation (BBC) is a public service broadcaster, headquartered at Broadcasting House in Westminster, London. It is the world's oldest national broadcaster, and the largest broadcaster in the world by number of emplo ...

BBC
was given the highlights of most of the matches, while BSkyB paying £304m for the
Premier League The Premier League, often referred to outside the UK as the English Premier League, or sometimes the EPL, (legal name: The Football Association Premier League Limited) is the top level of the English football league system. Contested by 20 c ...

Premier League
rights, would give them a monopoly of all live matches, up to 60 per year from the 1992–93 season. Murdoch has described sport as a "battering ram" for pay-television, providing a strong customer base. A few weeks after the deal, ITV went to the High court to get an injunction as it believed their details were leaked before the decision was taken. also asked the Office of Fair Trading to also investigate since it believed Rupert Murdoch's media empire via the newspapers had influence the deal. A few days later neither action took effect, ITV believed BSkyB was telephoned and informed of its £262m bid, and
Premier League The Premier League, often referred to outside the UK as the English Premier League, or sometimes the EPL, (legal name: The Football Association Premier League Limited) is the top level of the English football league system. Contested by 20 c ...

Premier League
advised BSkyB to increase its counter bid. BSkyB retained the rights paying £670m for the 1997–2001 deal, but was challenged by On Digital for the rights from 2001 to 2004, thus it was forced to pay £1.1 billion which gave it 66 live games a year. Following a lengthy legal battle with the European Commission, which deemed the exclusivity of the rights to be against the interests of competition and the consumer, BSkyB's monopoly came to an end from the . In May 2006, the Irish broadcaster
Setanta Sports Setanta Sports is a sports television company based in Dublin, Ireland broadcasting throughout select Eurasian countries except Russia. The company was formed in 1990 to facilitate the broadcasting of Irish sporting events to international audience ...

Setanta Sports
was awarded two of the six Premiership packages that the English FA offered to broadcasters. Sky picked up the remaining four for £1.3bn.


Becoming a public limited company

In October 1994, BSkyB announced its plans to float the company on the UK and US stock exchanges, selling off 20% of the company. The stock flotation reduced Murdoch's holding to 40 percent and raised £900m, which allowed the company to cut its debt in half. Sam Chisholm said "By any standards this is an excellent result, in every area of the company has performed strongly". Chisholm, became one of the world's most highly paid television executives. In 1995, BSkyB opened its second customer management centre at
Dunfermline Dunfermline (; sco|Dunfaurlin, gd|Dùn Phàrlain) is a town and former Royal Burgh, and parish, in Fife, Scotland, on high ground from the northern shore of the Firth of Forth. The town recorded a population of 50,380 in 2012, making it the ...

Dunfermline
, Scotland, in addition to its original centre at which opened in 1989. BSkyB entered the FTSE 100 index, operation profits increased to £155M a year, and Pearson sold off its 17.5% stake in the company. Sam Chisholm resigned from BSkyB due to a rift with Rupert Murdoch in June 1997. A week later, Murdoch was quoted as saying "I cannot understand the fuss; BSkyB was grossly overpriced", which caused further rifts with the new management. In 1997, BSkyB formed a partnership with
CarltonCarlton may refer to: People and fictional characters * Carlton (name), a list of those with the given name or surname Places Australia * Carlton, New South Wales, a suburb of Sydney * Carlton, Tasmania, a locality in Tasmania * Carlton River, ...

Carlton
and Granada to bid for the right for the new digital terrestrial network. In June, it was awarded the right to start the service,
ONdigital ITV Digital was a British digital terrestrial television broadcaster which launched a pay-TV service on the world's first digital terrestrial television network. Its main shareholders were Carlton Communications plc and Granada plc, owners of tw ...

ONdigital
under the condition BSkyB withdrew from the group's bid. In February 2003 BSkyB wished to renegotiate its deal with MTV to reduce its payment from £20m. Chief executive Tony Ball said "We're definitely prepared to stare them down if we can't get a sensible deal, MTV, and other channels, have done particularly well out of the growth of Sky but the opportunity for savings is now there and Sky will be taking it," he added. "MTV has done extremely well out of that original deal." On 17 April 2003 BSkyB launched its own range of music channels [[Scuzz, [[Flaunt (TV channel)|Flaunt and [[The Amp, as part of its plan to create its own original channels for the platform. Within 18 months the channels failed to make impact, and were outsourced to the [[CSC Media Group|Chart Show Channels company. Shortly afterwards it acquired [[Sky Arts|Artsworld, giving a majority of subscribers full access to the channel. The buyout was part of James Murdoch's strategy to improve the perceptions BSkyB which could lead to potential new subscribers. John Cassy, the channel manager of Artsworld, said: "It is great news for the arts that a dedicated cultural channel will be available to millions of households." In early 2007 Freeview overtook Sky Digital with nearly 200,000 more subscribers at the end of 2006, while cable broadcaster Virgin Media had three million customers. In July 2007, BSkyB announced the takeover of [[Amstrad for £125m, a 23.7% premium on its market capitalisation. BSkyB and [[Virgin Media announced that they had reached agreement for the acquisition by BSkyB of Virgin Media Television. Virgin1 was also a part of the deal and was rebranded as [[Channel One (UK TV channel)|Channel One on 3 September 2010, as the Virgin name was not licensed to Sky. The new carriage deals are understood to be for up to nine years. The deal was completed in July 2011 and Virgin Media Television was renamed [[Living TV Group In June 2010, [[News Corporation takeover bid for BSkyB|News Corporation made a bid for complete ownership of BSkyB. However, following the
News International phone hacking scandal The News International phone-hacking scandal was a controversy involving the now-defunct ''News of the World'' and other British newspapers owned by Rupert Murdoch. Employees of the newspaper were accused of engaging in phone hacking, police brib ...

News International phone hacking scandal
, critics and politicians began to question the appropriateness of the proposed takeover. The resulting reaction forced News Corp. to withdraw its bid for the company in July 2011. The scandal forced the resignation of [[James Murdoch, who was the chairman of both BSkyB and News International, from his executive positions in the UK, with Nicholas Ferguson taking over as Chairman of BSkyB. In September 2012, [[Ofcom ruled that BSkyB was still fit to hold broadcast licenses in the UK, but criticised James Murdoch's handling of the scandal. On 28 June 2013, News Corporation was split into two publicly-traded companies; the company's publishing operations (including News International, renamed [[News UK) and broadcasting operations in Australia were spun into a new company known as [[News Corp, while the company's broadcast media assets, including its 39.14% stake in Sky, were renamed
21st Century Fox Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media corporation that was based in Midtown Manhattan, New York City. It was one of the two companies formed from the 2013 spin-off ...

21st Century Fox
.


European acquisitions

On 12 May 2014, BSkyB confirmed that it was in talks with its largest shareholder,
21st Century Fox Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media corporation that was based in Midtown Manhattan, New York City. It was one of the two companies formed from the 2013 spin-off ...

21st Century Fox
, about acquiring 21st Century Fox's 57.4% stake in
Sky Deutschland Sky Deutschland GmbH, branded as Sky, is a German media company that operates a direct broadcast satellite Pay TV platform in Germany, Austria and Switzerland (through Sky Switzerland). It provides a collection of basic and premium digital sub ...

Sky Deutschland
and its 100% stake in
Sky Italia#REDIRECT Sky Italia {{R from other capitalisation ...

Sky Italia
. The enlarged company (dubbed "Sky Europe" in the media) will consolidate 21st Century Fox's European digital TV assets into one company. The £4.9 billion takeover deal was formally announced on 25 July, where BSkyB would acquire 21st Century Fox's stakes in Sky Deutschland and Sky Italia. BSkyB also made a required takeover offer to Sky Deutschland's minority shareholders, resulting in BSkyB acquiring 89.71% of Sky Deutschland's share capital. The acquisitions were completed on 13 November.


Sky plc

British Sky Broadcasting Group plc changed its name to Sky plc to reflect the European acquisitions, and the United Kingdom operations were renamed [[Sky (United Kingdom)|Sky UK Limited. Sky plc bought out the remaining minority shareholders in Sky Deutschland during 2015, using a [[squeeze-out procedure to obtain the remaining shares and delist Sky Deutschland on 15 September 2015.


Competition around being acquired

On 9 December 2016, 21st Century Fox announced that it had made an offer to acquire the remainder of Sky plc for £11.7 billion at a value of £10.75 per-share. It marked Fox's second attempt to take over Sky, as its previous attempt under News Corporation was affected by the [[News of the World phone hacking scandal investigations|News International scandal. The two companies reached an agreement on the deal on 15 December, subject to regulatory approval. [[Ofcom expressed concern that this purchase would give the Murdoch family "material influence over news providers with a significant presence across all key platforms" and "increased influence over the UK news agenda and the political process". However, the regulator did deem that a Fox-owned Sky would be "fit and proper" to hold broadcast licences, despite the recent sexual harassment controversies that had emerged at the US [[Fox News Channel, as there was no evidence to the contrary. [[Avaaz opposed Ofcom's opinion, stating that the regulator "made mistake after mistake in deciding to give the Murdochs a clean bill of health to take over more of our media". [[The Walt Disney Company announced on 14 December 2017, that it would [[Acquisition of 21st Century Fox by Disney|acquire 21st Century Fox, including its stake in Sky plc but barring specific US assets. Fox stated that this purchase would "not alter [its] full commitment and obligation to conclude our proposed transaction". Analysts suggested that Disney's proposed transaction could ease regulatory concerns over Fox's purchase of Sky, as the company will eventually lose its ties to the Murdoch family. Disney has a narrower scope of media ownership in the country than the Murdoch family. Sky already has a relationship with Disney for its [[Sky Cinema service, holding pay television rights to its films in the United Kingdom and operating a dedicated Sky Cinema channel devoted to Disney content. A preliminary report by the [[Competition and Markets Authority issued January 2018 called for the insulation or outright divestment of [[Sky News as a condition of the purchase, so that it is editorially independent from the Murdoch family. Sky had threatened to reevaluate the channel's continued operations if they "unduly impeded merger and/or other corporate opportunities available in relation to Sky's broader business". The channel has operated on a loss of at least £40 million per-year. In February 2018, Fox proposed the establishment of an independent editorial board, and committing to fund the network for at least 10 years. This commitment would be inherited by Disney after the completion of its purchase of 21st Century Fox. On 3 April 2018, Fox stated that Disney had "expressed an interest in acquiring Sky News", which would not be conditional on its proposal to acquire 21st Century Fox. A [[bidding war began 25 April 2018, when the competing US media and telecoms conglomerate
Comcast Comcast Corporation (formerly registered as Comcast Holdings)Before the AT&T merger in 2001, the parent company was Comcast Holdings Corporation. Comcast Holdings Corporation now refers to a subsidiary of Comcast Corporation, not the parent comp ...

Comcast
(owner of [[NBCUniversal), announced a counter-offer for Sky at £12.50 per-share, or approximately £22.1 billion. NBCUniversal CEO [[Steve Burke (businessman)|Steve Burke stated that purchasing Sky would roughly double its presence in English-speaking markets, and allow for synergies between the respective networks and studios of NBCUniversal and Sky. On 5 June 2018, [[Secretary of State for Digital, Culture, Media and Sport|Culture Secretary [[Matt Hancock cleared both 21st Century Fox and Comcast's respective offers to acquire Sky plc. Fox's offer was contingent on the divestiture of Sky News. On 12 June 2018, Comcast announced a US$65 billion counter-offer to acquire the 21st Century Fox assets that Disney had offered to purchase. However, Fox subsequently agreed to an increased, US$71.3 billion offer from Disney instead. On 15 June 2018, the European Commission gave antitrust clearance to Comcast's offer to purchase Sky, citing that in terms of their current assets in Europe, there would be limited impact on competition. Comcast included a 10-year commitment to the operations and funding of Sky News similar to that of Disney's offer. On 19 June 2018, Disney formally agreed to acquire Sky News as part of Fox's proposed bid, with a 15-year commitment to increase its annual funding from £90 million to £100 million. On 11 July 2018, Fox increased its bid for Sky to £14.00 per share, valuing it at £24.5 billion. Comcast subsequently counterbid just hours later with an offer at £14.75 per-share, valued at £26 billion. On 19 July 2018, after Fox agreed to a Disney counter-offer, it was reported that Comcast had abandoned its bid for 21st Century Fox to focus solely on Sky. On 20 September 2018, the [[Panel on Takeovers and Mergers ordered that a blind auction be held "in order to provide an orderly framework for the resolution of this competitive situation". In this process, Fox, followed by Comcast, made new cash-only bids for Sky. After these first two rounds of bidding, there would be a third round where both companies could make new offers. However, the third round of bidding would only be binding if both companies make a bid. The results were to be revealed on 22 September, and be confirmed by the start of trading on 24 September. Comcast won the auction with a bid of £17.28 per-share, beating Fox's bid of £15.67. Sky plc had until 11 October to formally accept this offer. Following its auction victory, Comcast began to acquire Sky shares from the open market. On 26 September 2018, Fox subsequently announced its intent to sell all of its shares in Sky plc to Comcast for £12 billion. On 4 October 2018, Fox completed the sale of their shares, giving Comcast a 76.8% controlling stake at the time.


Sky Group Ltd

On 12 October 2018, Comcast announced it will compulsorily acquire the rest of Sky after its bid gained acceptances from 95.3% of the broadcaster's shareholders. Sky was delisted on 7 November 2018 after Comcast acquired all remaining shares.


Management

The first CEO of BSkyB was [[Sam Chisholm, who was CEO of Sky TV before the merger. Chisholm served in this position until 1997. He was followed by Mark Booth who was credited with leading the company through the introduction of Sky. [[Tony Ball was appointed in 1999 and completed the company's analogue to digital conversion. He is also credited with returning the company to profit and bringing subscriber numbers to new heights. In 2003, Ball announced his resignation and [[James Murdoch (media executive)|James Murdoch, son of Rupert Murdoch was announced as his successor. This appointment caused allegations of [[nepotism from shareholders. On 7 December 2007, it was announced that
Rupert Murdoch Keith Rupert Murdoch ( ; born 11 March 1931) is an Australian-born American media mogul. Through his company News Corp, he is the owner of hundreds of local, national, and international publishing outlets around the world, including in the U ...

Rupert Murdoch
would be stepping down as BSkyB's non-executive chairman and would be replaced by his son, [[James Murdoch (media executive)|James. In turn, James stepped down as CEO of BSkyB, to be replaced by [[Jeremy Darroch. It was estimated that Darroch would earn around £38.2 million from selling Sky to Comcast. He sold his 775,772 shares in Sky worth £13.4 million and would cash in on previously awarded bonus shares. In January 2021, it was announced that Darroch would be standing down as CEO, and will become executive chairman of Sky for the remainder of 2021, and will then be an advisor to the company. He will be succeeded as CEO by
Dana StrongDana Strong is an American business executive, and the CEO of Sky Group, a British media and telecommunications conglomerate. Previously, Strong was president of consumer services at Comcast Cable and held various roles at Liberty Global. Early life ...

Dana Strong
. The current company directors are Comcast personnel: Michael J Cavanagh (Comcast senior VP & CFO), Arthur R Block (legal counsel) and David L Cohen (senior VP & CDO).


Financial performance

Financial results have been as shown in the table. In February 2019 ''The Economist'' magazine claimed that Sky enjoys gross margins of 50%.


Current operations


Subsidiaries


Ventures


Sky services per country


Former operations


Subsidiaries


Ventures


Stake in ITV

[[ITV plc has been the subject of a flurry of rumoured take-over and merger bids since it was formed. For example, on 9 November 2006, [[NTL:Telewest|NTL announced that it had approached ITV plc about a proposed merger. The merger was effectively blocked by BSkyB on 17 November 2006 when it controversially bought a 17.9% stake in ITV plc for £940 million, a move that attracted anger from NTL shareholder [[Richard Branson and an investigation from media and telecoms regulator [[Ofcom. On 6 December 2006, NTL announced that it had complained to the [[Office of Fair Trading about BSkyB's move. NTL stated that it had withdrawn its attempt to buy ITV plc, citing that it did not believe that there was any possibility to make a deal on favourable terms. On 17 July 2014, BSkyB's 6.4% stake in ITV was sold to [[Liberty Global, valued at £481 million.


References


External links


Sky official website
* {{Authority control [[Category:Sky Group| [[Category:British companies established in 1990 [[Category:Mass media companies established in 1990 [[Category:Direct broadcast satellite services [[Category:Comcast subsidiaries [[Category:Television networks in the United Kingdom [[Category:British brands [[Category:2018 mergers and acquisitions [[Category:Companies formed by merger [[Category:Companies formerly listed on the London Stock Exchange [[Category:British subsidiaries of foreign companies [[Category:Former News Corporation subsidiaries