Comcast (Nasdaq: CMCSA) Vice Chairman-CFO Michael Angelakis literally trashed a New York Times report that his company is interested in adding British Sky Broadcasting (BSyB; LSE: BSY) to its mega-stable of entertainment and service delivery companies.
"This is complete rubbish," Angelakis was quoted by the Times as saying. "It is total speculation and inaccurate."
The newspaper reported that "several people briefed on the company's strategic thinking" had said that Comcast was leaning towards acquiring Britain's largest satellite broadcaster which, for now at least, is 39 percent owned by News Corp. (Nasdaq: NWS)
The Times also reported that Comcast "has not made a formal offer or even approached BSkyB or News Corporation about the negotiations," quoting sources who are not authorized to speak publicly about the company's strategy but were doing so on background.
The deal percolated because News Corp. is in something of a bind with an ongoing phone-hacking scandal in Britain and an investigation whether the company is "fit and proper" to hold a broadcast license.
For more:
- see the NYT story
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