NEW YORK (TheStreet) -- Twenty-First Century Fox (FOXA) rose Monday after the company revealed it had held several discussions about combining the Sky-branded European satellite entities in Britain, Germany and Italy but had yet to reach an agreement to do so.
"Over the years we've had numerous internal discussions regarding the organizational and ownership structure of the European Sky-branded satellite platforms," the company said in a statement. "From time to time these conversations have included BSkyB, however no agreement between the parties has ever been reached."
British Sky Broadcasting also confirmed weekend reports on Monday when it said it had engaged in preliminary talks with Fox to acquire its pay-TV assets in Germany and Italy, Sky Deutschland and Sky Italia, respectively.
The stock was up 3.16% to $35.23 at 10:07 a.m.
Separately, TheStreet Ratings team rates TWENTY-FIRST CENTURY FOX INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TWENTY-FIRST CENTURY FOX INC (FOXA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, attractive valuation levels, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."