Will British Sky Broadcasting (BSYBY) Stock Be Helped By European Deal As Murdoch Attempts to Buy Time Warner (TWX)?

NEW YORK (TheStreet) -- Shares of British Sky Broadcasting Group  (BSYBY) are up 0.92% to $63.40 as Britain's pay-TV group will tomorrow announce its multi-billion euro deal to buy Rupert Murdoch's assets in Italy and Germany, which will create a pan-European entity with nearly 20 million customers, Reuters reports.

BSkyB, which is 39%-owned by Murdoch, will buy all of Sky Italia and 57% of Sky Deutschland from Murdoch's 21st Century Fox (FOXA), which wants to raise cash to buy Time Warner (TWX).

Analysts expect the deal to cost between 7 billion and 9 billion euros, Reuters said. 

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 
   BSYBY Chart BSYBY data by YCharts
 

More from Markets

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

FTC Chair Says Agency Is Ready to Take on Big Tech; Walgreens Joins Dow -- ICYMI

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

Zoom CEO Eric Yuan Leads Glassdoor's List of Top 100 CEOs

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists