Comcast, the largest cable operator in the US, has claimed that it is not looking to buy BSkyB, despite reports saying a deal is being worked out.
BSkyB has had a rather torrid time of late, with the corporation's major shareholder News Corporation – which owns a 39 per cent stake – being put through the mill by Ofcom. The regulator is currently deciding whether the company is 'fit and proper' to have a broadcasting license.
The New York Times reported this week that Comcast has been mulling over bidding for BSkyB if its shares were to come up, citing unnamed sources who believe that a deal is in its preliminary stages.
Rubbish rumour
Michael J Angelakis, Comcast's vice chairman and chief financial officer, tried to put the record straight however, saying of the rumour: "This is complete rubbish. It is total speculation and inaccurate."
BSkyB on the other hand has decided not to comment on the rumour and considering News Corp's stake in the company isn't even up for grabs at the moment, it's understandable that a statement hasn't been released.
The New York Times insists it is standing by its story, however, and points to the fact that Comcast isn't shy when it comes to bidding for majority stakes in big businesses.
Just last year Comcast took a 51 per cent stake in NBC Universal, a move that's similar to News Corporation buying up half of 20th Century Fox back in 1981.
Essentially both media monoliths control not only the making of movies and TV shows, but the delivery of them.
With this in mind, having Comcast's name even mentioned in the same breath as a BSkyB takeover will no doubt have pricked up the ears of the world's competition commissions.
Via New York Times
