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COMCAST CORPORATION

(CMCSA)
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Discovery exploring takeover bid for UK's Channel 4 - The Telegraph

07/31/2021 | 06:11pm EDT
Channel 4 television channel offices seen in London

(Reuters) - U.S.-based broadcaster Discovery Inc is holding informal discussions about a potential takeover bid for Britain's state-owned Channel 4 television broadcaster, The Telegraph reported on Saturday.

The potential bid process is being managed by UK Government Investments, the paper reported https://www.telegraph.co.uk/business/2021/07/31/olympics-broadcaster-lines-bid-channel-4, adding that a deal was not expected to be completed until the middle of next year.

Discovery did not immediately respond to a request for comment.

Britain's government on July 6 announced a consultation on the sale of Channel 4, and it was considering changes to the operating model of the broadcaster, including its ownership, remit and obligations.

The advertising-funded Channel 4, whose hit shows include "The Great British Bake Off," was set up with a remit to provide challenging and distinctive programming for audiences under-served by traditional broadcasters.

Rival UK broadcasters ITV Plc and Comcast's Sky are also exploring a bid for Channel 4, Telegraph reported.

In its 2020 annual report, Channel 4 said its revenues were 934 million pounds, down 5% from 2019, with a pre-tax surplus of 74 million pounds, the highest in its 38-year history. Viewing share for its TV channel portfolio rose 2% to 10.1%, its first year-on-year increase since 2011. It set a target of doubling viewing by 2025.

(Reporting by Derek Francis in Bengaluru; Editing by Cynthia Osterman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COMCAST CORPORATION 0.12% 56.24 Delayed Quote.7.19%
DISCOVERY, INC. -0.90% 25.3 Delayed Quote.-15.92%
ITV PLC -1.31% 109.6 Delayed Quote.2.62%
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Analyst Recommendations on COMCAST CORPORATION
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Financials (USD)
Sales 2021 115 B - -
Net income 2021 13 360 M - -
Net Debt 2021 88 621 M - -
P/E ratio 2021 19,6x
Yield 2021 1,76%
Capitalization 258 B 258 B -
EV / Sales 2021 3,01x
EV / Sales 2022 2,79x
Nbr of Employees 168 000
Free-Float 83,2%
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Mean consensus BUY
Number of Analysts 35
Last Close Price 56,24 $
Average target price 66,68 $
Spread / Average Target 18,6%
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Managers and Directors
Brian L. Roberts Chairman, President & Chief Executive Officer
Michael J. Cavanagh Chief Financial Officer
Jeff Votaw Vice President-Engineering
Candy Lawson Chief Compliance Officer & Senior Vice President
Karen Dougherty Buchholz Executive Vice President-Administration
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