Comcast prepares cash bid for 21st Century Fox

Comcast prepares cash bid for 21st Century Fox

The all-stock Disney deal involves the sale of the Twentieth Century Fox TV and film studio, cable networks including FX and National Geographic, global businesses including Fox's 39% stake in European pay TV company Sky PLC, and a stake in the streaming business Hulu.

Sky might not be the limit for Comcast Corp., which is mulling another bid for 21st Century Fox assets, a move that could upend the Walt Disney Co.'s efforts to buy much of Fox from Rupert Murdoch.

Part of the back and forth for 21st Century Fox and its assets is because of the animosity between Comcast CEO Brian Roberts and Disney CEO Bob Iger. However, if the government does not approve, then Comcast has no intention of placing a bid.

There have been no official comments from Comcast, Fox and Disney on the new developments.

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According to CNBC, Comcast's bid would go forward if the United States Government approves AT&T's acquisition of Time Warner. Inside Disney, a role for him was always seen as uncertain, according to people familiar with the matter.

Late Monday, Reuters reported that Comcast was lining up financing to make an all-cash bid for Fox's vaunted TV and movie studio, FX, National Geographic channels, almost two dozen regional sports networks and control of the online streaming service Hulu.

Comcast has previously tried to disrupt the Disney / 21st Century Fox by making a bid for Sky, a pan-European media and telecommunications company that 21st Century Fox owns 39.14% controlling stake in. Fox's shares are up almost 50 per cent since early October. The 21st Century Fox intellectual property would add to the exclusive content on that video streaming service. The cable company's chief financial officer, Michael Cavanagh, said on an earnings call late last month that Comcast was unlikely to use its stock to make deals.

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