American and British broadcasters join Comcast in flurry of mergers.
News of major broadcasting deals either side of the Atlantic this week has signalled a revival of big business fortunes in the media and telecommunications.
US telecoms firm AT&T is looking to buy satellite television firm DirecTV in a deal thought to be worth $50bn. Separately UK broadcaster BSkyB is seeking to combine several European TV stations under one roof.
AT&T are offering up to $100 a share for DirecTV, compared with $87.16 per share when trading closed on Monday in a deal that could be closed within the next few weeks.
BSkyB is meanwhile seeking to acquire Sky Italia and Sky Deutschland in a deal said to be worth €10bn, creating a broadcaster with 20 million subscribers.
Rupert Murdoch currently owns 39% of BSkyB through 21st Century Fox, which also has a 55% stake in Sky Deutschland and wholly owns Sky Italia.
The announcements follow controversy in the US over a proposed merger between Comcast and Time Warner Cable, a deal thought to be worth $45bn.
If AT&T deal is completed the resulting company would be comparable in size to Comcast should it succeeds in acquiring Time Warner Cable. Both US deals face regulatory approval.
Source: Company Press Release