Comcast Preparing Cash Bid for Fox Assets: Report

By
( )
published

Comcast is talking to bankers about getting financing for an all-cash bid for the assets 21st Century Fox has agreed to sell for $52 billion to the Walt Disney Co., according to Reuters.

The new bid would up the ante in what is developing into a battle among Comcast CEO Brian Roberts, Disney CEO Bob Iger and Fox chairman Rupert Murdoch.

Comcast earlier this month made a bid for European satellite company Sky. Fox owns a big stake in Sky and its proposal to buy the remainder has been held up by British regulators.

Related: Merger Talk Takes Bite Out of Earnings Season

According to the report, Comcast is asking bankers to increase the loans it has to buy Sky so it can purchase the Fox assets as well.

Fox rejected an offer from Comcast that was 17% higher than Disney’s bid because of antitrust issues.

Under President Donald Trump, the Justice Department sued to prevent AT&T from acquiring Time Warner. A ruling in the case is expected next month.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.