Disney-Fox Deal Could Get Derailed By Potential Cash Offer From Comcast

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza formerly known as the GE building in midtown Manhattan in New York

While Comcast's shares have fallen since Disney announced its bid for 21st Century Fox, the cable company believes that it has a better chance with an all-cash bid, even if Rupert Murdoch prefers Disney's shares. A decision in the AT&T-Time Warner case is expected June 12. Comcast is preparing a $60 billion hostile bid, while Disney is ready to offer a $52 billion stake exchange according to an agreement reached at the end of December 2017. In doing so, it topped an earlier offer for the entirety of Sky by Fox. Crucially, Fox's 30% stake in Hulu is part of the deal. He added that if Comcast acquires Fox, it might lead to Comcast spinning off its cable/internet and entertainment businesses into separate companies.

Back in December, Disney said it reached an agreement with Fox to buy the company's film and TV studios, as well as its cable networks and global TV businesses in a stock-based deal.

For those unaware, Comcast was another corporate entity that proposed to acquire 21st Century Fox previous year.

Disney brass has stated they would intend to consolidate Sky ownership under the House of Mouse, which would be unlikely should Comcast's acquisition attempt prove fruitful. It is not clear how receptive he would be to an all-cash offer. As Sonia Legg reports, Comcast has also filed for European Union approval for the Sky deal.

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Comcast's stock has dropped since then, from around $38 to about $32 now, giving the company a market capitalization of $149 billion.

Separately but related, Bibb also believes that Comcast $30 billion bid to also seize a 61% stake in United Kingdom satellite TV operator Sky Plc. will eventually be undermined by Disney.

Disney has committed to share buybacks as a way of returning cash to Fox shareholders. This article is strictly for informational purposes only.

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