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Comcast is reportedly exploring whether the British Sky Broadcasting Group, Britain's largest satellite broadcaster and a lucrative pay TV asset, could become available for purchase. Murdoch's News Corp owns 39% of BSkyB. Comcast's thinking about a possible deal is in the preliminary stages, and the company has not made a formal offer or even approached BSkyB or News Corporation.
In April James Murdoch, resigned as Chairman of BSkyB amid pressure related to his involvement in the phone hacking scandal. A British regulatory panel is investigating whether Rupert Murdoch's media company is "fit and proper" to hold a broadcast license.
Last summer, News Corporation withdrew its $12 billion bid for the remaining stake in BSkyB, amid scrutiny related to the phone hacking carried out at by its News of the World tabloid.
It is speculated that these circumstances have prompted News Corporation to consider divesting its BSkyB stake at a premium and retreat from what once looked like a key part of the conglomerate's $50 billion portfolio. News Corporation does not want to be forced to sell its BSkyB stake in a fire sale, if OFCOM, the British regulatory body reviewing the matter, were to deem the company unfit to hold the broadcast license, analysts have said.
Comcast - USA's largest Cable MSO, does not typically own minority stakes in foreign companies and if interested, would buy BSkyB outright. With a market capitalization of over $80 billion, in 2011 Comcast bought a 51% stake in NBCUniversal for $13.8 billion.
In April James Murdoch, resigned as Chairman of BSkyB amid pressure related to his involvement in the phone hacking scandal. A British regulatory panel is investigating whether Rupert Murdoch's media company is "fit and proper" to hold a broadcast license.
Last summer, News Corporation withdrew its $12 billion bid for the remaining stake in BSkyB, amid scrutiny related to the phone hacking carried out at by its News of the World tabloid.
It is speculated that these circumstances have prompted News Corporation to consider divesting its BSkyB stake at a premium and retreat from what once looked like a key part of the conglomerate's $50 billion portfolio. News Corporation does not want to be forced to sell its BSkyB stake in a fire sale, if OFCOM, the British regulatory body reviewing the matter, were to deem the company unfit to hold the broadcast license, analysts have said.
Comcast - USA's largest Cable MSO, does not typically own minority stakes in foreign companies and if interested, would buy BSkyB outright. With a market capitalization of over $80 billion, in 2011 Comcast bought a 51% stake in NBCUniversal for $13.8 billion.
