Comcast is reportedly unlikely to increase its US$65 billion bid for 21st Century Fox. CNBC reported Comcast won’t match Disney’s increased US$71.3 billion offer for Fox’s assets. Disney had to increase its bid after Comcast made its all-cash offer for Fox last month.
Comcast is now reportedly focused on acquiring Britain’s Sky instead, of which Fox owns 39%. Currently, Comcast and Fox find themselves in a tight bidding war for Sky, with Fox offering US$32.5 billion for the portion of the company it doesn’t own. Meanwhile, Comcast has recently bid US$34 billion.
The US government’s decision to appeal a recent court ruling allowing AT&T to go ahead with its purchase of Time Warner may be giving Comcast reason to pause in its pursuit of the Fox assets, Faber said Monday, July 16, on CNBC. The government had tried to block the AT&T deal on competitive grounds.
There is also a belief, CNBC’s David Faber said, that Rupert Murdoch, Fox’s executive co-chairman whose family has a nearly 39% stake in Twenty-First Century Fox Class B shares, favors a deal with Disney.
Full Content: CNBC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Antitrust Lawsuit Targets Hotel Giants for Alleged Price Fixing with AI
Apr 30, 2024 by
CPI
ABA Seeks to Join FTC Lawsuit Against Amazon Over Antitrust Concerns
Apr 30, 2024 by
CPI
Google Agrees to Pay News Corp for AI-Related Content
Apr 30, 2024 by
CPI
FTC Challenges Pharma Patent Listings to Lower Drug Prices
Apr 30, 2024 by
CPI
Walmart’s Vizio Acquisition Faces FTC Antitrust Review
Apr 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI