Comcast Looks to Disrupt Disney-Fox Deal With All-Cash Offer

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza formerly known as the GE building in midtown Manhattan in New York

Comcast Looks to Disrupt Disney-Fox Deal With All-Cash Offer

Comcast, the cable giant, is reportedly trying to line up financing so that it can make a counteroffer for 21st Century Fox Inc.'s entertainment assets.

News agency Reuters reported that Comcast Corp (NASDAQ:CMCSA) is seeking finance so it can top the Disney bid for various media assets of Twenty-First Century Fox Inc (NASDAQ:FOXA).

According to CNBC, Comcast's $60 billion bid- topping Disney's bid of $52 billion- would go forward if the United States Government approves AT&T's acquisition of Time Warner.

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Comcast, meanwhile, has seen its share price decline about 25% since it made its Sky bid in February, with investors frustrated that the cable company isn't using its free cash to institute stock buybacks.

For both Disney and Universal, the benefit of acquiring Fox's assets would be ownership of recognizable brands, film and television content for distribution across multiple platforms, and new avenues of distribution, such as Sky. Disney (dis) and Fox alluded to regulatory complexities associated with a potential Comcast buy-out in explaining why Disney's lower offer was accepted. It is also unclear how receptive Murdoch would be to an all-cash deal.

We contacted Comcast for comment and will update this story if we get a response. After its bids fell through, the company still sought to purchase European pay-TV group Sky, offering up $21 billion, which is said to be 16% higher than the bid received by Fox's Rupert Murdoch. In fact, the broadcasting conglomerate pushed a more generous deal than Disney. Fox owns most of the rest.

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Disney in December had offered to buy film, television and global businesses from Fox for $52.4 billion in stock to beef up its offering against streaming rivals Netflix Inc and Inc.

If the deal does proceed, however, and Comcast edges in to steal Disney's thunder, then it will simultaneously interrupt the company's efforts to "reunite the X-Men, Fantastic Four, and Deadpool" with the rest of the established Marvel Universe, much to fan disapproval.

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