Comcast Planning $60B Bid for Fox Assets

Jeannie Matthews
May 9, 2018

The exact value of Comcast's new bid for the Fox assets is not yet clear, although the $60 billion in new financing indicates it is seeking significant firepower to outbid Disney. "Comcast is getting the pieces in place to make a hostile bid for 21st Century Fox's entertainment assets should it choose to do so", a Wall Street Journal article said.

Obama administration regulators also prevented Comcast from buying Time Warner Cable, saying that Comcast could use its increased size to stifle the competition that online video streaming services pose to cable TV.

According to a new report from CNBC earlier today, Comcast is readying up a new bid that could essentially beat Disney to the punch. If the assets can be acquired, and if various other legal interests unrelated to the Disney-Fox deal go through next month, it just might now be the Mouse House who is standing alone at the corporate altar.

He also pointed to the huge increase in Comcast's debt the acquisition of both Fox and British pay-TV group Sky for nearly $100 billion in total would generate. Bidding directly for Fox ups the ante.

But in the event the us government takes AT&T-Time Warner, Comcast will not aim to bid.

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Disney CEO Bob Iger once called Sky the "crown jewel" of the transaction.

All of this is crucially important to movie lovers, because the deal is not borne out of a sense of insolvency at 20th Century Fox.

Last December, Disney announced they would acquire Fox's film, television and global businesses in an attempt to combat the growing threat of streaming giants Netflix and Amazon.

KitGuru Says: While both buyouts are inherently monopolistic, Disney has the edge with its pre-established world that naturally connects to a variety of Fox's content. Comcast's stock dropped more than 4 percent Tuesday, and that's telling.

Here's how Comcast could still eke out a win. That case is less prickly for Disney.

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