Comcast confirmed that it may make an offer for the entertainment assets that 21st Century Fox has agreed to sell to Walt Disney, escalating a bidding war that’s already underway over Fox’s European satellite business reported Bloomberg.
The move could further complicate a global game of M&A chess that’s being waged by some of the biggest media companies. This is because it threatens to escalate a bidding contest that’s already underway over Fox’s European satellite business.
Last fall, Comcast Chief Executive Brian Roberts met with Fox Chairman Rupert Murdoch to discuss such a union, but Murdoch was cool to Roberts’ overture.
Fox executives ultimately rejected that Comcast bid, believing that the chances of regulatory approval were better for Disney, which wants to bolster its TV and movie holdings for its direct-to-consumer streaming services. In addition, the Disney offer would turn Fox shareholders—including Murdoch and his family—into Disney shareholders. The Murdoch family would become one of Disney’s largest individual shareholders, with about 5% of the company’s stock.
Full Content: Bloomberg
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