Recently it was announced that FOX and Disney have come to a deal to sell most of FOX to Disney in a mostly cash deal. Now that deal is not done and Comcast had previously tried to buy Fox but was beat out by Disney. Last week Comcast once again announced plans to make an all-cash offer to buy select 21st Century Fox assets before Disney can close their deal.
“In view of the recent filings with the U.S. Securities and Exchange Commission by The Walt Disney Company and 21st Century Fox, Inc. in preparation for their upcoming shareholder meetings to consider the acquisition of Fox by Disney, Comcast Corporation confirms that it is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney (which do not include the Fox News Channel, Fox Business Network, Fox Broadcasting Company and certain other assets),” reads a Comcast statement released Wednesday morning.
“Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney,” Comcast added. “The structure and terms of any offer by Comcast, including with respect to both the spinoff of ‘New Fox’ and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer.”
Now Disney is lining up finances to fight off a possible Comcast deal to buy FOX according to a report from CNBC. The only question now is will the Department of Justice approve these deals. For now, we will have to wait and see.
Who would you like to see buy most of Fox? Would you rather see Disney or Comcast buy FOX? Leave a comment and let us know who you want to own most of FOX next.
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