Comcast Reportedly Seeks to Buy Fox, Potentially Displace Disney Deal

Fox hunt heats up as Comcast prepares to duel with Disney over Rupert Murdoch's company

Comcast has been persistent and aggressive in its interest to acquire Fox's assets, but the company will only proceed with the all-cash bid if a judge approves AT&T's $85 billion plan to acquire Time Warner, according to a Reuters report.

The owner of NBC and Universal pictures, the media conglomerate Comcast, is seeking funding to outbid the Walt Disney Company by acquiring most of 21st Century Fox's assets, as reported by Reuters and the Wall Street Journal. However, 21st Century Fox ultimately rejected Comcast's offers due to antitrust concerns. In doing so, it topped an earlier offer for the entirety of Sky by Fox.

Comcast believes Disney can not match an all-cash bid for Fox because if it adds more stock to a deal, Fox stock will go down, depressing the value of the offer, sources told CNBC.

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Last December, Disney announced they would acquire Fox's film, television and worldwide businesses in an attempt to combat the growing threat of streaming giants Netflix and Amazon. Disney (dis) and Fox alluded to regulatory complexities associated with a potential Comcast buy-out in explaining why Disney's lower offer was accepted. And the drama surrounding what the industry has come to dub the "Disney-Fox" deal is far from over. Comcast's stock fell 5.5 percent Tuesday to $30.59 in response to the news.

Comcast Corporation shares were unchanged in premarket trading Tuesday. It is not clear how receptive he would be to an all-cash offer. Murdoch was concerned about the reaction of Washington regulators to a deal with Comcast. The Roberts family controls Comcast through a dual-class stock structure.

Disney has committed to share buybacks as a way of returning cash to Fox shareholders.

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Separately but related, Bibb also believes that Comcast $30 billion bid to also seize a 61% stake in United Kingdom satellite TV operator Sky Plc. will eventually be undermined by Disney.

The buyout would include Fox channels including FX and Nat Geo, among others, but would not involve Fox News, Fox Business Network, Fox Sports 1 or 2, the Big Ten Network or the Fox broadcasting network and stations. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.

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