Various reports, including Comcast-owned CNBC, are reporting that Comcast is seeking to outbid Disney’s offer to buy many assets of 21st Century Fox. This mirrors Comcast ongoing attempt to outbid Fox for the park of Sky that they do not own. Comcast has reportedly met with bankers to raise $60 billion to outbid Disney’s offer of $52 billion.
Comcast is waiting to make a formal offer until they see how the judge rules in the case regarding AT&T’s pending acquisition of Time Warner. The conventional wisdom is that if the deal is allowed to proceed, Comcast would face less regulatory scrutiny in acquiring Fox which was cited by Fox as the main reason they did not pursue a deal with Comcast.
In addition, Comcast is racing to get speedy regulatory approval in the UK for their bid for Sky. The initial decision on their offer by the United Kingdom government will come two-days after the final decision for Fox’s offer.
- May 8: Disney Releases Earnings
- May 9: 21st Century Fox Releases Earnings
- May 14: Comcast Presents at MoffettNathanson Investor Conference
- June 12: Ruling on AT&T-Time Warner Merger
- June 13: UK Government Gives Final Verdict on Fox-Sky Acquisition
- June 15: UK Government Give Initial Verdict in Comcast-Sky Acquisition