Rupert Murdoch

Comcast and Disney vie for the Murdoch empire

(Credit: AP)

However it ends, the battle royal for the right to own most of the assets of 21st Century Fox, and all of Sky, reflects deep and significant trends in global media. The resolution (in favour of suitors Disney, Comcast or both) may end up being less important than what the outcome tells us about market dynamics.

This battle is about the response of legacy media to accelerating shifts in consumer behaviour and to the threats posed by the big digital disruptors. In a market where content and distribution are increasingly intermingled and global, size unlocks the prize.