by: Elizabeth Balboa, Benzinga Staff Writer
“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.
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
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