Is Comcast looking to outbid Disney's purchase of Fox?

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Submitted by Mike 'Ace' Maillaro on Tue, 05/08/2018 - 11:01

From Reuters:

U.S. cable operator Comcast Corp is asking investment banks to increase a bridge financing facility by as much as $60 billion so it can make an all-cash offer for the media assets that Twenty-First Century Fox Inc has agreed to sell to Walt Disney Co for $52 billion, three people familiar with the matter said on Monday.

Comcast Chief Executive Brian Roberts only plans to proceed with the bid if a federal judge allows AT&T Inc’s planned $85 billion acquisition of Time Warner Inc to proceed, the sources said. The U.S. Department of Justice has opposed the AT&T-Time Warner deal over antitrust concerns, and a decision from U.S. District Court Judge Richard Leon is expected in June.

Disney Chief Executive Bob Iger clinched an all-stock deal with Fox Executive Chairman Rupert Murdoch in December to acquire Fox’s film, television and international businesses, giving the world’s largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc.

Source: Reuters

Commentary: SWERVE, BRO!!

This adds a hell of a wrinkle to the Disney/Fox deal we have been talking about for a while now. At the end of the day, whether it's Disney or Comcast, this still represents a further homogenization of the media industry. Part of me was real excited about the prospect about seeing X-Men in the Marvel Cinematic Universe, but I still have a lot of concerns about any one company getting this much power. As we have been doing, I am sure we will have more on this story as it continues to develop.