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

Adjust Comment Print

Disney said in its initial announcement that buying Fox assets would allow the company-which already owns Marvel and most of its properties-to "reunite the X-Men, Fantastic Four, and Deadpool" with the rest of its Marvel brands. That opened the door to Comcast's counteroffer.

The decision there will greatly influence Comcast's ability to make a run at the assets that 21st Century Fox plans to sell in its $52.4 billion deal with Disney, namely the 20th Century Fox studio, FX Networks, regional sports cablers, and National Geographic Worldwide channels. (NYSE: DIS), which in December said it would take control of Fox's film, TV and global businesses in an all-stock transaction. In fact, the broadcasting conglomerate pushed a more generous deal than Disney.

Warren Buffett is not too anxious of a Transaction Warfare
As for the current flow of deals, he said his telephone hadn't been ringing off the hook. The billionaire has praised Apple's decision to repurchase its own stock.

However, if Comcast were to get Fox's assets, the rights to these characters wouldn't automatically revert to Disney as it's unknown what the specific contractual conditions would be for Marvel to get the X-Men back and if Constantin Films, who now owns the rights to the Fantastic Four, would give the rights back (though it's possible that Constantin sells to the rights to Disney).

Sources told the outlet Comcast has been speaking with investment banks about getting ahold of bridge financing to stop the deal between Disney and Fox. Fox shares shot 3.6% higher in after-hours trading Monday evening, while Disney stock fell about 0.5% and Comcast declined about 0.1%. Comcast shares were down 1.5 percent to $31.90, while Disney shares were down 0.5 percent to $102.00. It is not clear how receptive he would be to an all-cash offer.

Nintendo Switch Virtual Console Not Coming According to Company Spokesperson
These will include classics like " The Legend of Zelda ", " Mario Bros .", " Balloon Fight ", " Donkey Kong ", and many others. Nintendo will be including 20 NES games that are going to have online features, though they can be played offline as well.

Comcast is awaiting two deadlines that will steer the course of its effort to out-maneuver Disney in the hunt for Rupert Murdoch's TV content and cable assets. The Roberts family controls Comcast through a dual-class stock structure.

Comcast, the world's biggest entertainment company, stunned the industry in February when it made an informal bid for Sky, taking on Fox which is in the final stages of its own bid to buy the 61pc of Sky it does not already own. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

Giuliani Says Trump Would Not Have to Comply With Mueller Subpoena
In response, Daniels' lawyer said Giuliani and Trump had "lost track of the truth" and were undermining their own attempted "coverup".

Comments