Comcast Corporation has confirmed it’s in the advanced stages of preparing a bid for assets of Twenty-First Century Fox.
In a statement, the cableco that also owns the NBC network and Universal Studios said any offer made would be all-cash and at a premium to the all-share offer currently on the table from Disney.
“The structure and terms of any offer by Comcast, including with respect to both the spin-off of “New Fox” and the regulatory risk provisions and the related termination fee, would be at least as favourable to Fox shareholders as the Disneyoffer,” said Comcast.
Comcast is already in the process of bidding for Sky, where it also finds itself up against Disney.
The Fox assets would exclude Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports and other properties that will be overseen after the sale by Lachlan Murdoch as Chairman and Chief Executive Officer
Earlier this week, The Secretary of State for Culture, Media and Sport, Matt Hancock, said there’s no grounds to intervene in Comcast’s takeover of Sky.
Comcast has made a formal £22 billion bid for Sky, valuing the broadcaster and TV platform at £12.50 per share.
