Sky expects to pay advisers on Fox deal up to $123.7 million in fees
Reuters
Published Aug 20, 2018 01:55PM ET
Sky expects to pay advisers on Fox deal up to $123.7 million in fees
LONDON (Reuters) - Sky (L:SKYB) said on Monday that it expected to pay its advisers between 90 million pounds and 97 million pounds ($123.7 million) if Twenty-First Century Fox (O:FOXA) succeeds with its takeover of the British broadcaster.
The UK pay-television group will spend as much as 61.5 million pounds on financial and broking advice and up to 20 million pounds on lawyers for their work on the Fox bid, according to a circular published by Sky. Other costs include fees for accountancy and public relations advice.
Fox, which already owns 39 percent of Sky, is battling U.S. cable giant Comcast (O:CMCSA) for control of the broadcaster. Comcast is currently in the lead after Sky's independent directors last month recommended its 14.75 pound a share offer, which trumped Fox's 14 pound a share bid.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.