Comcast Prepared To Submit All-Cash Offer For Fox Assets

Comcast Prepared To Submit All-Cash Offer For Fox Assets

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by: Elizabeth Balboa, Benzinga Staff Writer


Comcast Corporation CMCSA 1.91% announced Wednesday that it may submit an all-cash offer to acquire Twenty-First Century Fox Inc Class A FOXA 2.33% at a premium to the Walt Disney Co DIS 1.08% price.

“Comcast Corporation confirms that it is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney (which do not include the Fox News Channel, Fox Business Network, Fox Broadcasting Company and certain other assets),” the firm published in a press release.



Why It's Important

The competing offer would include risk, termination-fee and “New Fox” spinoff terms “at least as favorable” to Fox investors as the Disney terms are.

Comcast assured that its work to finance such a deal and file relevant regulatory documents are “well advanced,” although management has not yet decided to pursue the buyout.

The choice may not be made until June 12, when a ruling on the AT&T Inc. T 0.89%Time Warner Inc TWX 1.16% merger is said to dictate the future of com-sector deals.

Comcast was down about 2 percent at time of publication while Fox was up about 1.2 percent.




Image credit: 21st Century Fox [Public domain], via Wikimedia Commons

© 2018 Benzinga does not provide investment advice. All rights reserved.


One response to “Comcast Prepared To Submit All-Cash Offer For Fox Assets”

  1. Kaity says:

    Hope that Fox is still interesting when belonging with Disney. Wait for future projects. hotmail sign up

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