CNBC’s David Faber, who originally broke the Fox-Disney story, is reporting that Comcast expects to make a bid for the 21st Century Fox assets that Disney is attempting to buy, on June 13, 2018. This will be one day after the judge rules on the merger of AT&T and Time Warner. If the ruling, as many expect, is decided in favor of the two companies, Comcast would likely announce their bid. If the Department of Justice wins the case, Comcast is unlikely to make a bid due to anti-trust concerns.
The big would be received about a month prior to Disney and 21st Century Fox holding special shareholder meetings to continue the process of the acquisition. It is expected that the board of 21st Century Fox will review any other offers before that date.
CNBC is owned by Comcast.
Other Key Notes from the Report:
- Disney is willing to divest the Regional Sports Networks and businesses with $250 million in earnings to get regulatory apporval
- Comcast will match any Disney anti-trust promises
- Comcast will have to face concerns from the Department of Justice regarding the merging of broadband distribution and content
- It is unknown how the Department of Justice will view studio consolidation
- Disney has a lead over Comcast on regulatory approval