Comcast CEO says Fox bid dropped due to high price

Comcast CEO says Fox bid dropped due to high price

Comcast CEO says Fox bid dropped due to high price

The No. 1 USA cable provider added 260,000 broadband subscribers in the period - its best second quarter in a decade.

Comcast said the mobile business contributed a loss of United States dollars 185 million for the period.

They bragged about earnings growth, including total earnings (up to $3.22 billion, or 69 cents a share, from $2.52 billion, or 52 cents a share, a year earlier).

Comcast attributed the weak revenue figure to its blockbuster-bare Universal film slate and the boost in profits to high-margin internet businesses.

Feeling a bit jilted by the financial community because of the tumble that its stock has taken since the cable powerhouse made its twin bids for 21st Century Fox and Sky (NYSE, London: SKY) earlier this year, Comcast Corp.

Chief Executive Brian Roberts told investors on a conference call that Comcast walked away from its bid for the Fox assets because it could not justify the escalating price.

Sky CEO Jeremy Darroch
Sky CEO Jeremy Darroch

As for Comcast's still pending $32.5 billion offer for Sky, which trumped Fox's last bid, Roberts merely reiterated that company officials are still enthralled with the British satellite TV and OTT video provider.

Sky, which broadcasts drama Game Of Thrones starring Emilia Clarke, lifted annual operating profit by 7 per cent to just over £1billion on 5 per cent higher like-for-like revenue of £13.6billion.

Comcast Corp on Thursday reported a quarterly profit that beat Wall Street estimates as it added more high-speed internet customers, part of a push to diversify away from the shrinking USA pay-TV market.

Comcast added 260,000 internet customers in the period, up 49% from the 175,000 added a year ago, but the company lost 140,000 cable subscribers, its fifth straight quarter in decline. NBCUniversal's performance was highlighted by continued momentum in affiliate revenue at our cable networks business, and Telemundo presented its first ever FIFA World Cup which set multiple records for the network.

The growth in internet connections is "more than offsetting the pressure on video and the outlook for the second half of the year is strong", said Kevin Roe, an analyst at Roe Equity Research.

“Were benefiting more from that competition than were losing, ” Roberts said.

Facebook finally suspends Alex Jones and Infowars for hate speech
The Facebook spokesperson said that three of the four videos were reported to Facebook Wednesday. The Alex Jones Channel received a strike back in February, but that has since expired.

Turkey Says The US Should Reconsider Possible Sanctions Over Detained Pastor
The exchange comes a day after Brunson was released from a Turkish prison and placed under house arrest while his trial continues. Turkey wants the U.S. to agree to his extradition. "I forgive those who lie and bear false witness against me".

Trump plans emergency aid to farmers affected by his tariffs
She said the "long list" of American goods would include machinery, agricultural and high-tech products, among others. But the taxes also exact a toll on US businesses and consumers, which pay more for imported products.

Related news