Disney Might Not Buy Fox (And X-Men And Deadpool) After All

09 May, 2018, 00:57 | Author: Natasha Holloway
  • Comcast Attempts to Upend Disney-Fox Deal with Cash Bid

Disney and Fox previously announced a deal back in December, which saw the Mouse House seek to acquire a majority of the company for an astounding $52 billion. However, a new report suggests that Comcast is not only reviving its bid for Fox, but is also prepared to spend some serious money to do so. If Disney gets into a bidding war with Comcast, then Comcast's bid for all of Sky and Fox could get close to $100 billion, these people said.

Reuters reports multiple sources have said Comcast Corp is attempting to get bridge financing from investment banks in order to place a cash bid for Twenty-First Century Fox Inc's assets. He added that if Comcast acquires Fox, it might lead to Comcast spinning off its cable/internet and entertainment businesses into separate companies. In fact, the broadcasting conglomerate pushed a more generous deal than Disney.

Comcast's decision to bid for some of Fox's assets with cash came several months after it had an all-stock offer rejected.

The first Players Championship pairing reveal is juicy
May try and putt out as much as I can before Tiger does just so that I'm not hitting while the circus is moving on. Not at the biggest non-major of the year, and particularly not playing alongside Rickie Fowler and Phil Mickelson .

Rupert Murdoch, who owns a almost 17-per cent stake in Fox and holds about 40 per cent of the voting power, prefers to be paid in stock rather than cash for the Fox assets, since an all-stock offer will not be taxable for shareholders, Reuters said. Fox shares shot 3.6% higher in after-hours trading Monday evening, while Disney stock fell about 0.5% and Comcast declined about 0.1%. Any such deal would also see Comcast acquire 100 per cent of Sky. Comcast shares were down 1.5 percent to $31.90, while Disney shares were down 0.5 percent to $102.00.

The Seven network recently cut a deal with Fox Sports which is owned by News Corporation to deliver the next five years of cricket coverage in Australia. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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