Comcast ponders new bid for 21st Century Fox: US media

US cable company Comcast is reportedly considering relaunching a bid to acquire 21st Century Fox even as Disney works to complet
US cable company Comcast is reportedly considering relaunching a bid to acquire 21st Century Fox even as Disney works to complete a $66.1 billion acquisition of part of Rupert Murdoch's empire

US cable company Comcast, which in December dropped an attempt to acquire 21st Century Fox, is considering relaunching that bid even though Walt Disney Co. has reached a deal, the Wall Street Journal reported.

The report, based on sources close to the matter, comes as Disney works to complete a $66.1 billion acquisition of part of Rupert Murdoch's empire.

If approved by antitrust authorities, Fox would add the 20th Century Fox film company, British satellite television giant Sky and American video streaming platform Hulu to Disney's portfolio.

According to the Journal, Comcast's revival of its bid may be influenced by Fox publishing a proxy statement indicating the "general process that led up to sealing a deal."

It said Comcast would be willing to offer Fox guarantees, including withdrawing certain assets such as local sports channels to avoid too heavy a concentration in television, to ensure the US government approves the deal.

Disney has offered to regroup the 20th Century Fox film studios with its own—they account for 40 percent of American box office revenues between them.

In television, FX and National Geographic would join ABC and ESPN as channels owned by Disney.

Authorities—which blocked AT&T's acquisition of Time Warner— may not make a decision until 2019.


Explore further

Comcast reportedly no longer in deal talks with Fox

© 2018 AFP

Citation: Comcast ponders new bid for 21st Century Fox: US media (2018, February 12) retrieved 21 May 2019 from https://phys.org/news/2018-02-comcast-ponders-21st-century-fox.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
19 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more