Comcast prepares to duel with Disney over Rupert Murdoch's company — Fox hunt

Sergio Cunningham
May 10, 2018

The all-stock Disney deal involves the sale of the Twentieth Century Fox TV and film studio, cable networks including FX and National Geographic, worldwide businesses including Fox's 39% stake in European pay TV company Sky PLC, and a stake in the streaming business Hulu. It is vying with Disney, the $152 billion film, television and theme parks conglomerate, to buy most of 21st Century Fox, the $69 billion media company run by the Murdoch family. "I can only say, reiterate that we made a deal in December that received unanimous approval, which is important, by the 21st Century Fox board", said Iger.

It is speculated that once and if a federal judge rules in Comcast's favor regarding the AT&T-Time Warner acquisition, that Comcast will then focus on 21st Century Fox.

Comcast hasn't yet decided whether to proceed with a hostile bid.

New York Yankees & Boston Red Sox to play each other in London
It's also the first time the Red Sox and Yankees have played one another outside of NY or Boston . The games will take place on June 29 and 30 at the venue which hosted the Olympic Games in 2012.

Murdoch, the chairman of Fox as well as the U.K.'s Sky, was expected to take up a senior executive position at Disney if and when the deal closed. Once seen as a sure thing purchase by The Walt Disney Company, with Comcast talking to investment banks about putting in a bid for 21st Century Fox, Disney's acquisition of 21st Century Fox is now in peril. Comcast's offer was a 16% premium to Disney's, according to a securities filing and people close to the deal talks.

Lachlan Murdoch now serves as executive co-chairman of 21st Century Fox.

That being said, should the Time Warner and AT&T amalgamation pass, pending government approval, of course, in addition to 21st Century Fox, Comcast would also acquire United Kingdom satellite TV provider Sky - which would see the global telecommunications conglomerate's bid reach the $100B mark. 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.

Other reports by

Discuss This Article