Comcast said on Wednesday (23/05/2018) it was in "an advanced stage in preparing" a larger "cash offer" for Fox assets agreed to be sold to Walt Disney by Rupert Murdoch.
Comcast, CNBC's parent company, said in an official statement that the offer would surpass the value of the deal with Disney, but no final decision has been made.
Reporting from CNBC International, the company said efforts to finance bids and file submissions to regulators "have gone well".
Comcast shares closed down 1.9% on Wednesday, while Disney shares fell 1.1%. Fox shares rose 1.6%.
However, Fox is likely to rate Comcast's offer less attractive than Disney for tax reasons, Faber said, citing various sources. Disney's stock offering will allow Fox to move its assets tax-free, while Comcast's cash offer led to the transfer of taxable assets, sources said.
Disney announced a deal in mid-December last year to acquire a movie studio Fox, National Geographic and FX networks, regional sports networks and several parts of the company's $ 52.4 B in the form of shares. The deal includes ownership in Sky and Hulu whose total value is approximately $ 66.1B.
Such acquisitions will increase Disney's efforts to compete with Netflix in the streaming field.
"In short, if Comcast winning these assets from Disney, it would mean a 'sad blow' for Disney CEO Bob Iger and Disney's ambition to get ahead in the streaming field," said David Ives, Head of Technology Research at GBH Insights,
Citing reliable sources earlier this month that Comcast is preparing to bid for those assets in mid-June, it is also reported that Comcast is preparing a cash offer worth $ 60 B, surpassing the offer from Disney if the government approves the acquisition of Time Warner of AT & T.
Various sources also said this month, Comcast could have debts of up to $ 100 B in the deal.
The assets being contested do not include Fox News Channel, Fox Business Network, Fox Broadcasting Company, and certain other components.
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