Published: Wed, May 09, 2018
Markets | By Erika Turner

Comcast Readying Cash Bid to Upend Fox-Disney Deal

Comcast Readying Cash Bid to Upend Fox-Disney Deal

A new Comcast bid would be a direct challenge to Disney Chief Executive Bob Iger, whose effort to buy much of Fox was seen as a bold move to cement his legacy and secure Disney's future. If Disney gets into a bidding war with Comcast, then Comcast's bid for all of Sky and Fox could get close to $100 billion, these people said.

According to Bloomberg and Reuters, Comcast is in talks with investment banks to set up an all-cash bid for 21st Century Fox film and TV businesses.

European markets meanwhile also closed higher, boosted by a round of well-received earnings reports and an advance for heavyweight Nestlé after the consumer goods giant announced a deal to sell Starbucks products world-wide.

Disney agreed to buy Fox's assets, including the existing 39 per cent stake it has in Sky, last December after Mr Murdoch turned down a higher bid from Comcast on the grounds that it had a lower chance of winning United States regulatory approval.

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Klopp also responded jokingly to claims Liverpool were interested in Barcelona's Ousmane Dembele . He said: "We have had no contact with Liverpool today.

As such, 21st Century Fox is keeping Murdoch's darlings, including Fox News, Fox Sports, and the broadcast network FOX (Disney nor Comcast could legally own FOX, as they each respectively already own a major broadcast with ABC and NBC between them).

But in the event the us government takes AT&T-Time Warner, Comcast will not aim to bid. Fox's 39% stake in the company is one of the reasons the buy-out is so attractive to both Disney and Comcast.

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. (NYSE: DIS), which in December said it would take control of Fox's film, TV and global businesses in an all-stock transaction.

Disney has committed to share buybacks as a way of returning cash to Fox shareholders. The antitrust trial wrapped up April 30, and a ruling is expected June 12. The EC has the power to clear Comcast's £22 billion bid with or without conditions or it can kick off a four-month investigation if it has concerns about the deal.

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