Comcast’s $31 billion bid to buy UK broadcaster Sky is not just an attempt to thwart Disney or to expand globally.
Axios reporter Sara Fischer says it’s also an effort to expand its streaming capabilities. But so far, investors in industry leader Netflix are not worried about the competition.
“What the markets are responding to today is basically saying that, regardless of whether or not Comcast makes a bid, we still think that Netflix’s international growth is strong and we still think that they’re a viable player,” she told Cheddar.
“If Comcast feels the need to make this bet, it’s because Netflix is actually doing really well internationally.”
Comcast’s offer comes after a failed attempt to take over 21st Century Fox, which owns 39 percent of Sky. Fox opted instead for a deal with Disney, even though the $52.4 billion price tag gave it a lower valuation. It’s also trying to buy the 61 percent of Sky it doesn’t already own.
While shares of Comcast, Disney, and Fox were all down significantly Tuesday, Netflix was still trading near all-time highs.
Still, as more companies look to get into the streaming space, Fischer points out that no one is safe.
“At this point everyone is trying to get into the streaming game, so everyone is a threat to everyone,” she said. “Netflix should be concerned about any media-tech company trying to grow streaming reach.”
For the full interview, [click here](https://cheddar.com/videos/comcast-fuels-bidding-war-for-sky-with-fox-and-disney).
Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, this is normal.
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A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
