{"id":564961,"date":"2023-03-17T11:00:00","date_gmt":"2023-03-17T08:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/will-comcast-sell-off-parts-of-sky\/"},"modified":"2023-03-17T11:00:00","modified_gmt":"2023-03-17T08:00:00","slug":"will-comcast-sell-off-parts-of-sky","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/will-comcast-sell-off-parts-of-sky\/","title":{"rendered":"#Will Comcast Sell Off Parts of Sky?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3654721e16a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3654721e16a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/will-comcast-sell-off-parts-of-sky\/#Will_Comcast_Sell_Off_Parts_of_Sky\" >Will Comcast Sell Off Parts of Sky?<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Will_Comcast_Sell_Off_Parts_of_Sky\"><\/span>Will Comcast Sell Off Parts of Sky?<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Brian Roberts, chairman and CEO of U.S. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> giant Comcast, is traditionally a buyer and a builder, not a pump-and-dumper. Over the years, he has grown Comcast through bold M&amp;A moves, snatching up NBCUniversal in 2011, DreamWorks Animation in 2016, and, in the company\u2019s most recent mega-buy, paying around $39 billion for European pay-TV giant Sky, which operates three language divisions: English (for the U.K. and Ireland), German (Germany, Austria and Switzerland) and Italian. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    With every deal, the goal was always to make Comcast bigger and better able to respond to or lead industry trends. Not all acquisition plans worked out. Roberts tried, unsuccessfully, to buy the Walt Disney Co. and, later, former Sky owner 21st Century Fox. Disney, of course, ended up snatching up large parts of Fox in 2018. In almost every case, Roberts and Comcast have preferred to hold and further build and grow businesses, trusting they will be able to find efficiencies in them and run them more effectively, and more profitably, than others. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    While entertainment arm NBCU and its <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a> parks unit are often-cited examples of such success, Sky could prove the exception, some critics have said. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    While Comcast\u2019s management has touted deeper integration and increased cooperation across Comcast Cable, NBCU and Sky and the successful sharing of expertise, executives and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> between them, for example in the streaming space, chatter about the sale of the one or the other part of Sky has kept creeping up.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Since late last year, there has particularly been widespread speculation that Comcast could sell off Sky\u2019s German division, Sky Deutschland. Then, earlier this week, the Italian media reported that Serie A, Italy\u2019s professional soccer league, was eyeing a bid for Sky Italia, with JPMorgan, Goldman Sachs, Barclays and Citi among the banks reported to be ready to help negotiate a possible deal.  <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Comcast\u2019s takeover of Sky always looked pricey to various analysts \u2014 it paid a multiple of 15 times Sky\u2019s earnings before interest, taxes, depreciation and amortization (EBITDA) to seal the deal \u2014 and with the company under pressure in Europe from economic clouds and consumers looking to cut costs amid high inflation, selling or spinning off Sky could have a certain appeal. But selling at a time of challenges could also hurt the price tag any potential deal could reach, Comcast\u2019s dealmakers, who have a reputation for being savvy, will know. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    In the third quarter of 2022, Comcast recorded non-cash\u00a0impairment charges of $8.6 billion\u00a0related to goodwill and intangible assets in its Sky segment to reflect \u201creduced estimated future cash flows as a result of macroeconomic conditions in Sky\u2019s territories.\u201d And in its full-year results, Sky reported a lower number of customer relationships and a decrease in average revenue per customer. \u201cThe lower number of customer relationships was driven by a decrease in Italy, partially offset by increases in the United Kingdom and Germany,\u201d Comcast said in a regulatory filing. \u201cThe decrease in average revenue per customer relationship reflects decreases in average rates in Italy and Germany, partially offset by an increase in average rates in the United Kingdom.\u201d\u00a0<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Some synergies across Sky\u2019s European operations may never emerge though. While Sky U.K., Deutschland and Italia share a brand, and a best-in-class technology platform, and, since 2019, an umbrella production and commissioning operation in Sky Studios, the group\u2019s three divisions remain largely focused on their own markets and regionally siloed. Sky divisions often produce with U.S. partners \u2014 <em>Gangs of London<\/em> is made in co-production with AMC; Sky Italia\u2019s <em>The Young Pope<\/em> was a HBO co-production, Sky Deutschland made <em>Das Boot<\/em> together Sonar Entertainment \u2014 but rarely with each other. One of Sky U.K.\u2019s upcoming highlights, the historic drama <em>The Tattooist of Auschwitz<\/em>, starring Jonah Hauer-King, Anna Pr\u00f3chniak and Melanie Lynskey, was set up with Comcast streamer Peacock. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    While Sky productions regularly move across markets, true cross-over success stories \u2014 a U.K. original hitting big in Italy or a German Sky <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> drawing huge audiences among British subscribers \u2014 are rare. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    That could make the sale of Sky Deutschland or Sky Italia less difficult or painful for the rest of the company.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Still, few analysts expect Comcast to dump big parts of Sky anytime soon. In a securities filing on Monday, Comcast said, beginning with its first quarter 2023 earnings, that it would be reorganizing how it reports results from its Sky operations, with Sky-branded entertainment TV channels assigned to the company\u2019s connectivity and platform markets segment, which reports on key broadband and wireless businesses, and Sky\u2019s sports channels, as well as its production and distribution operations, lumped in with Comcast\u2019s content and experiences segment, the division that includes NBCUniversal\u2019s TV and streaming platforms as well as Peacock, Comcast\u2019s flagship streaming service. The shuffle is a sign of how deeply Comcast wants to embed Sky in its company-wide infrastructure and make it work together with other units instead of looking to hive it off. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Comcast and Sky have not commented on reports of possible suitors for\u00a0Sky\u2019s operations in Germany and Italy or possible divestitures. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cI think Comcast overpaid for Sky and fantasized on very thin pan-European synergies and growth potential [but] selling a continental unit would not bring much cash in but it would send a signal to the stock market that they are serious about restructuring,\u201d Enders Analysis analyst Francois Godard tells <em>The Hollywood Reporter<\/em>. Pointing to Sky Italia\u2019s largely successful rollout of broadband services in Italy, Godard called the division \u201ca solid asset. [So] why sell it at a discounted price? \u2026.I have seen no indication that Sky Italy would be up for sale. They are investing in telecoms, a long-term growth strategy consistent with the Comcast approach in the US and with Sky in the U.K.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Sky\u2019s Germany unit, which does not have a strong telecom or broadband component, looks more vulnerable. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cGermany is different because there Sky does not have the scale it has in Italy, where it is head to head with [public broadcaster] Rai as the biggest media in the country,\u201d Godard tells <em>The Hollywood Reporter<\/em>. \u201cIn Germany there is no prospects of entering the telecoms market. So if Comcast wants to play macho and sell a piece of Sky, Germany is clearly the one bit to think about. But, doing so, Comcast renounces at any possible pan-European ambition, necessary if one day they want to join the global league of streamers.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    There can be little doubt, however, that Sky\u2019s business model has been under pressure, just like other pay TV giants. The rollout of international streamers has undercut the pay-TV group and increased competition for top sports rights, still a cornerstone of the company\u2019s subscription model. Sky\u2019s basic subscription tier, which costs \u00a314 ($17) per month in the U.K. and \u20ac25 ($27) per month in Germany and Italy, is roughly double the cost of the standard Netflix subscription in the respective territories. And those standard Sky packages don\u2019t include the premium sport that is, for many customers, Sky\u2019s biggest draw. A British soccer fan who wants to catch the top-flight Premiere League on Sky would need to shell out \u00a346 ($54) a month. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Restrictions on how top soccer rights can be sold in Europe has meant Sky has to share the most valuable rights \u2014 for the English Premier League in the U.K., the Bundesliga in Germany and for Serie A in Italy \u2014 with online competitors. In Britain, it splits Premier League coverage with BT and Amazon and on the continent with sports streaming service DAZN. <\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cSky is simply too expensive, especially as they have less and less premium sports on offer,\u201d notes one industry observer with a background in rights acquisition for European pay TV. \u201cThe long-term goal under Comcast seems to be to transform these aging pay-TV companies into full-service telcos, but, at least in continental Europe, Sky still has a long way to go.\u201d<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/comcast-sky-sale-germany-italy-1235354145\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Will Comcast Sell Off Parts of Sky? Brian Roberts, chairman and CEO of U.S. media giant Comcast, is traditionally a buyer and a builder, not a pump-and-dumper. Over the years, he has grown Comcast through bold M&amp;A moves, snatching up NBCUniversal in 2011, DreamWorks Animation in 2016, and, in the company\u2019s most recent mega-buy, paying&#8230;<\/p>\n","protected":false},"author":1,"featured_media":564962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2021\/08\/Brian-Roberts-Headshot-2021-H-2021.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[72125,124783,26619],"class_list":["post-564961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-comcast","tag-international","tag-sky"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=564961"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/564962"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=564961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=564961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=564961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}