Comcast Looks to Disrupt Disney-Fox Deal With All-Cash Offer

Fox hunt heats up as Comcast prepares to duel with Disney over Rupert Murdoch's company

Fox hunt heats up as Comcast prepares to duel with Disney over Rupert Murdoch's company

Various reports, including Comcast-owned CNBC, are reporting that Comcast is seeking to outbid Disney's offer to buy many assets of 21st Century Fox.

Comcast's all-cash offer of $60 billion doesn't necessarily mean that it has the edge over Disney's lower, stock-heavy bid.

Shares of Twenty-First Century Fox Inc rose as much as 3.4 percent on Tuesday after Reuters reported that cable operator Comcast Corp was preparing an all-cash bid to rival a deal agreed late past year with Walt Disney Co.

Last November, Comcast offered to acquire most of Fox's assets in an all-stock deal valued at $34.41 per share, or $64 billion, a regulatory filing showed last month.

Fox has offered a raft of remedies to gain regulatory approval, such as protecting the independence and funding of Sky's news division.

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"Comcast and Disney are likely to view this as the last remaining transformational deal in media".

According to Reuters, Comcast CEO Brian Roberts will only push the deal forward if AT&T's massive $85 billion takeover of Time Warner is allowed to proceed. Fox originally bid for the majority share in Sky it doesn't already own with plans to turn it around and sell it to Disney. That opened the door to Comcast's counteroffer. But Comcast already has a bid in to buy the entirety of Sky, which would effectively spoil the pot for Disney.

For one, Bibb believes that Fox's biggest shareholder, Rupert Murdoch, would prefer the lack of tax complications that go with an all-stock deal. As Sonia Legg reports, Comcast has also filed for European Union approval for the Sky deal.

This comes after Walt Disney Co. agreed in December to pay $52.4 billion for units including the historic 20th Century Fox movie studio and Fox's television studio.

The move is the first concrete step that Comcast is taking to upend Disney's deal with Fox.

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