Comcast preparing to top Disney's bid for Fox

24 May, 2018, 09:27 | Author: Thomas Hicks
  • Comcast Preparing

The corporation says it's "in advanced stages of preparing" an all-cash offer that would would outbid Disney's official all-stock deal for 21st Century Fox.

It was reported earlier this month that Comcast, whose properties already include Universal Pictures and NBC, was attempting to line up financing for a cash offer that would be more appealing to Fox shareholders than the $52.4 billion all-stock bid announced in December by Disney.

Like Disney, it wants to buy all of Fox's assets except its news channel and main sports and business networks.

Comcast said, "the work to finance the all-cash offer and make the key regulatory filings is well advanced". "The structure and terms of any offer by Comcast ... would be at least as favourable to Fox shareholders as the Disney offer".

Comcast shares were down 1.5 percent at $32.01 while Disney was down 0.6 percent at $103.48 in premarket trading. Even before the announcement, Comcast's expansion plans have weighed on the shares, which are down 19% this year. The Department of Justice has sued to block AT&T's $85 billion deal for Time Warner.

The news follows reports that Comcast had asked investment banks to increase a debt facility by as much as $60bn so it can make the offer, although the exact value of Comcast's new bid is not clear.

More news: Wentz, Pederson excited about Eagles heading to White House
More news: Tamil Nadu SSLC Result 2018 Live Updates; Available Online At Tnresults
More news: Rajasthan Board Not Releasing RBSE 12th Merit List 2018

Fox has said it remained committed to its offer for Sky and is "considering its options", which means it could potentially raise its bid.

Fox and Disney didn't immediately comment.

Tuna Amobi, analyst with research firm CFRA, said that the Fox deal presents a "once-in-a-lifetime opportunity" for Comcast because "almost no one expected Rupert Murdoch and his family to sell out at this time".

Larry Downes, project director at the Georgetown Center for Business and Public Policy, said Comcast's interest highlights the fact that content is becoming more important as ways to deliver content proliferate. Comcast, which owns the NBCUniversal media-entertainment group and is the largest U.S. cable operator, said it was prepared to pay more that Disney. "That's what we tried to do and we are no longer engaged in the review of those assets".

Comcast has not specified a price for its bid. According to Forbes, the former's offer could amount to about $60 billion.

Recomendado:

  • DNA sampling may help scientists find the Loch Ness monster

    DNA sampling may help scientists find the Loch Ness monster

    The images, known as "surgeon's photographs" are among the most well known and circulated of all conspiracy images in the world. The "creature" in the picture was in fact a toy submarine with a fakesnake head attached.
    Amazon is selling its face-recognition tech to police departments

    Amazon is selling its face-recognition tech to police departments

    Rekognition, despite being cheaper than competing systems from NEC and other traditional vendors, is superior in several respects. He could not say how many crimes the program had helped solve and added that the software wasn't always accurate.
    Unai Emery 5 things to know about new Arsenal manager

    Unai Emery 5 things to know about new Arsenal manager

    Arsenal apparently opted against appointing former player Mikel Arteta as their next manager due to his lack of experience. Emery, who joined PSG in June 2016, left the French club at the end of this season, having led them to a domestic treble.
  • Microsoft says it's extending GDPR rights to consumers worldwide

    Microsoft says it's extending GDPR rights to consumers worldwide

    Additionally, it will position USA companies well for when Congress passes similar legislation-something he predicts will happen. This can take up to a week, but you'll receive an email once all of your personal data is ready to be downloaded.
    U.S.  gov't worker reports

    U.S. gov't worker reports "abnormal" sound, pressure in China

    After being sent to the US , a clinical evaluation determined the employee had a "mild traumatic brain injury", she said. Secretary of State Rex Tillerson said in September 2017 the American diplomats were victims of "health attacks".
    Oil Rises as Venezuela Election Puts Supply at Risk

    Oil Rises as Venezuela Election Puts Supply at Risk

    Potential sanctions from the USA against Venezuela's socialist regime will likely cause further production declines. And it follows a rise in prices and a decline in global inventories that is making tighter supply more significant.
  • Donald Trump Calls For New

    Donald Trump Calls For New "Structure" For US - China Trade Deal

    China did not commit to cut the gap by any specific amount. "What I envision is a very large fine of more than $1 billion". Farm Belt" that our Tweeter-in-Chief begged for - and got - with his earlier, "misguided" steel tariffs.
    Kareena Kapoor Khan: I'm not a feminist, I believe in equality

    Kareena Kapoor Khan: I'm not a feminist, I believe in equality

    I don't want his life to be documented. "I'm glad that Rhea (Kapoor, producer) decided to make this film", she says. Sonam Kapoor has been very vocal about not calling the film a chick flick just because the leads are female.
    DOJ Responds to Trump's Demand For Action on FBI 'Mole'

    DOJ Responds to Trump's Demand For Action on FBI 'Mole'

    The matter's sensitivity is such that Senate Intelligence Committee Chairman Richard Burr (R-N.C.) and Vice Chairman Mark R. The Department of Justice, in turn, asked its Inspector General (IG) to look into the claims.
  • Iran accuses U.S.  of breaking promises

    Iran accuses U.S. of breaking promises

    Other parties to the deal - Britain, China , Russia and Germany - have expressed a desire to keep the existing agreement in place. Iran insists its nuclear programme is entirely peaceful, and its compliance with the deal has been verified by the IAEA.
    NFL owners agree to ban on kneeling during national anthem

    NFL owners agree to ban on kneeling during national anthem

    The San Francisco 49ers and Seattle Seahawks were among the teams that have been particularly tolerant of players' protests . Employment rules now depend on where you work, potentially pitting teams in navy blue California against ruby red Texas.
    Minibus bomb kills six, wounds many, in southern Afghan city - hospital chief

    Minibus bomb kills six, wounds many, in southern Afghan city - hospital chief

    The route of the Turkmenistan-Afghanistan-Pakistan-India pipeline passes through large areas under Taliban control or influence. Witnesses said fix crews were at the site, clearing large quantities of rubble and debris from the explosion.


Popular

Trump Weighs New Tariffs on Imported Vehicles
Almost half of the vehicles sold in the USA are imported, with numerous vehicles coming from assembly plants in Mexico and Canada. It is the same method Trump used earlier this year to slap a 25% tariff on imported steel and a 10% tariff on imported aluminum.

Hawaiian Authorities Work to Protect Power Plant From Lava Flow
FNC's Jeff Paul on the problems that could occur if lava from the Big Island's Kilauea Volcano reaches a power plant facility. Those issues include new lava that is hotter, faster-moving and more unpredictable, and it could last deep into the summer.

Ariana Grande remembers Manchester bomb attack victims on first anniversary
A memorial service, attended by Prime Minister Theresa May and Prince William , was also held in Manchester Cathedral. The pop star tweeted early Tuesday morning that she was thinking of the survivors and the families of victims.

Venezuela expels two U.S. diplomats
But there are other things Trump could do short of ordering an oil embargo, such as cutting USA exports of diluents to Venezuela . On Saturday, the United States ramped up pressure on Caracas by imposing new sanctions against the government's top officials.

Kelly team has no comment on woman's lawsuit
Faith is suing Kelly for sexual battery, false imprisonment and failure to disclose a sexually transmitted disease. Kelly refused to take the bait, however, telling her: "I don't never talk about nothing, to nobody on the phone".

Marks & Spencer (MKS) - Analysts' Weekly Ratings Changes
That was ahead of analysts' average forecast of 573 million pounds but down from 613.8 million pounds made in 2016-17. New Look , Mothercare ( MTC.L ), Carpetright ( CPRC.L ) and House of Fraser are all shutting stores.

2 more die of Ebola in Congo; 7 new cases confirmed
One of the major challenges surrounding the vaccine will be to keep it in properly cold conditions in the DRC's tropical climate. Congo President Joseph Kabila and his Cabinet agreed Saturday to increase funds for the Ebola emergency to more than $4 million.

Tuticorin factory currently non-operational: Sterlite Copper
The police, who tried to control the protesters, initially lobbed tear gas shells and resorted to baton charge. He also announced Rs 3 lakh for those seriously injured and Rs 1 lakh each for the other injured.

Republicans to view classified information on claims Federal Bureau of Investigation snooped on Trump campaign
He traveled to the White House for a meeting with Trump, White House chief of staff John Kelly and FBI Director Christopher Wray.

Faf steers CSK into final
You can also follow the match live blog for ball-by-ball updates, full score and IPL match highlight on cricketnext.com. In-form Suresh Raina was playing beautifully, hitting four well-timed boundaries on his way to 22 off 13 balls.