August 20, 2018 / 5:51 PM / 3 months ago

Sky expects to pay advisers on Fox deal up to $123.7 million in fees

FILE PHOTO: A British Sky Broadcasting Group (BSkyB) logo is seen at the company's UK headquarters in west London July 25, 2014. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - Sky SKYB.L 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 (FOXA.O) 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 (CMCSA.O) 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.

Reporting by Ben Martin. Editing by Jane Merriman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below