REPORT: Comcast Plans to Outbid Disney for 21st Century Fox


Comcast is looking to jump into the bidding war for 21st Century Fox, potentially driving up the price if Disney plans to finalize a deal.

This comes as Disney and Fox shareholders are preparing to vote on their own deal.

According to a statement obtained by CNN, Comcast (CCV) described the bid as one that will be “a premium to the value of the current all-share offer from Disney (DIS).” Although Comcast called its plans “well advanced,” it cautioned that no final decision has been made.

This is Comcast’s first time going on-the-record with plans to swoop in and purchase 21st Century Fox.

Comcast, who also operates NBCUniversal, was in talks to buy the same assets last year, but lost out to Disney, in part because Fox didn’t think Comcast’s bid could pass regulatory muster.

Disney made its $52.4 billion deal in December for Fox’s movie studio and regional sports networks, as well as cable channels FX and National Geographic. The company used stock rather than cash for its bid.

In its Wednesday statement, Comcast also promised Fox (FOX) shareholders that it would include a termination fee that “would be at least as favorable to Fox shareholders as the Disney offer.”

Comcast did not detail the exact value of its bid Wednesday, though sources have previously told CNN that the offer would be worth about $60 billion.


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