May 23, 2018 10:13 AM EST
Disney and Comcast to Bid Against Each Other for Fox Properties
Disney and Comcast are set to battle against one another for some 21st Century Fox assets.
Disney and Fox have agreed to a $52.4 billion deal; however, Comcast is said to be countering that deal with an amount hovering around $60 billion.
Comcast confirmed the move, saying that "it is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney." They went on to say that "no final decision has been made," and that "any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney. The work to finance the all-cash offer and make the key regulatory filings is well advanced."
Some financial analysts think that the Comcast move could ultimately put them in a tough position, acquiring over $164 billion in debt.
The deal would include Fox film and TV studios, as well as cable networks including FX and National Geographic.
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