US: Comcast prepares to make unsolicited offer for Fox

Comcast is considering a making major bid for parts of 21st Century Fox, setting up for a battle with Disney, which is also trying to acquire the assets. This time, however, Comcast is bringing cash to the table.

Comcast will attempt to outbid Disney’s initial offer of US$52 billion for the assets, including Fox’s movie studio and international channels. Comcast is also in the midst of a bid for European satellite TV company Sky, offering US$31 billion to gain control of the company, which Fox has also been trying to buy.

Reuters reported that the likely bid is all cash and that Comcast had already begun discussions to line up financing from banks, asking for US$60 billion to finance the bid.

Comcast had reportedly approached Fox about a similar deal in the fall but was turned down by the Murdoch family, which controls Fox, because they prefered Disney stock to Comcast stock and also viewed a tie with Comcast as more likely to be blocked by regulators.

Full Content: Reuters

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