Comcast Reportedly Seeks to Buy Fox, Potentially Displace Disney Deal

Comcast Reportedly Seeks to Buy Fox, Potentially Displace Disney Deal

Comcast Reportedly Seeks to Buy Fox, Potentially Displace Disney Deal

The Commission has the power to waive through the Comcast's £22 billion bid for Sky, impose conditions, or open a four-month investigation if it has serious concerns about the deal.

Comcast Corporation is gathering resources for an all-cash offer up to $60 billion for 21st Century Fox's media assets despite a $52b all-stock deal already in place with the Walt Disney Company, according to Reuters.

Comcast is reportedly arranging $60 billion for an offer for the Fox assets and Sky, the report said.

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.

Various reports, including Comcast-owned CNBC, are reporting that Comcast is seeking to outbid Disney's offer to buy many assets of 21st Century Fox.

If Comcast struck a deal with Fox, the telecomm giant would hit a media jackpot, acquiring Fox's film, television and worldwide businesses, giving the company a hefty portfolio to rival rising platforms like Netflix. This comes after Comcast offered $31 billion to get a 61% stake in Europe's pay-TV group Sky PLC.

Now Comcast, which owns NBC and Universal Pictures, is coming back with another attempt.

Last November, it actually offered to acquire most of Fox's assets in an all-stock deal valued at $34.41 per share, or $64 billion.

But regulatory fears could wane if a federal judge allows AT&T acquire HBO-owner Time Warner Inc. It should be worth noting that Fox has been leaning closer to Disney due to its historical increase in stocks and creating better "long-term value". A final decision on the takeover, which has attracted antitrust concerns, is expected in June. Fox originally denied Comcast's deal as it would likely mean a lot of legal headaches, more so than the Time Warner/AT&T situation.

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