Comcast Announces It's Prepared to Outbid Disney For Key Fox Assets

Comcast Announces It's Prepared to Outbid Disney For Key Fox Assets

Of course, Comcast courted Fox once before, in November, with an all-stock proposal that was actually more generous than Disney's.

Comcast says it may make an offer for Twenty-First Century Fox, opening the door for a bidding war with Disney. "The structure and terms of any offer by Comcast, including with respect to both the spin-off of "New Fox" and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer".

Disney in December offered stock then worth $52.4 billion to buy Fox's film, television and global businesses to beef up its offering against streaming rivals Netflix Inc NFLX.O and Amazon.com Inc AMZN.O . It said that its all-cash offer would have a higher value than Disney's current, $52.4 billion all-stock offer. Disney wouldn't get all that Fox has to offer, however, as Murdoch would still run the Fox News channel, the Fox broadcast network in the US, and the FS1 Sports network, as part of a new company spun off from 21st Century Fox.

Comcast preparing cash counter-offer for 21st Century Fox assets. Shares of Fox were up almost 1 percent. The deal would go a long way in allowing it to better compete with technology companies in the entertainment business.

Larry Downes, project director at the Georgetown Center for Business and Public Policy, said Comcast's interest highlights the fact that content is becoming more important as ways to deliver content proliferate.

Disney's tentative deal to acquire 21st Century Fox's assets was finalized back in December, but was thrown in limbo while the House of Mouse awaits governmental regulatory approval.

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Lee said the employee experienced "a variety of physical symptoms" between late 2017 through April 2018. China's Foreign Ministry are investigating the incident in Guangzhou but is yet to comment.

Tuna Amobi, analyst with research firm CFRA, said that the Fox deal presents a "once-in-a-lifetime opportunity" for Comcast because "almost no one expected Rupert Murdoch and his family to sell out at this time".

Comcast, owner of NBC and Universal Pictures, has also separately made a 22 billion pound ($30 billion) offer to acquire the 61-percent stake in European pay-TV group Sky Plc SKYB.L that Fox does not already own. We never got the level of engagement needed to make a definitive offer.

Sky's independent board, which had told shareholders to accept Murdoch's offer, withdrew that recommendation in light of Comcast's higher bid.

Comcast has not specified a price for its bid. Disney owns ESPN sports-media juggernaut, movie studios, a huge film library, and the ABC broadcast-TV network.

Federal regulators opposed Comcast's last big deal, for Time Warner Cable, and Tim Wu, professor at the Columbia Law School and author of The Master Switch: The Rise and Fall of Information Empires, said in an interview on cable news that he believed that Comcast could face a harder antitrust review in Washington than Disney. The Department of Justice has sued to block AT&T's $85 billion deal for Time Warner.

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