Comcast prepares cash offer for Fox assets: sources


Comcast is preparing an all-cash offer for the media assets that Twenty-First Century Fox has agreed to sell to Walt Disney Co, reports Reuters, citing three people familiar with the matter.
According to the report, Comcast is asking investment banks to increase a bridge financing facility by as much as USD 60 billion so it can make the bid.
The sources said that Comcast Chief Executive Brian Roberts only plans to proceed with the bid if a federal judge allows AT&T’s planned acquisition of Time Warner to proceed. Currently, the US Justice Department tries to block that merger, claiming that it would affect competition in the market. A decision from the Judge is expected in June. Sources told CNBC that Comcast is preparing to make its bid in mid-June.
In 2017 Comcast had presented a bid for Fox’s assets. However, in December last year, the company abandoned the negotiations. At that time, local media reported that an agreement with Disney was a better option because it had fewer regulatory barriers to overcome. Soon after, Walt Disney Company announced an agreement to buy the assets for USD 52.4 million, which include the movie studios, international pay TV businesses, including Latin America, and the stake in Hulu, among others.
Comcast is the largest cable TV provider in the United States, with more than 22 million subscribers. The company also owns NBCUniversal, which it acquired in 2011.