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

Fox stock jumps after report that Comcast is preparing to battle Disney for megadeal

Instead, it appears to be willing to pile even more debt on its already-high load in order to block Disney from acquiring Fox's properties, including its 30% stake in streaming service Hulu.

Comcast also plans to acquire 100 percent of United Kingdom satellite broadcaster Sky as part of an improved all-cash bid.

He also pointed to the huge increase in Comcast's debt the acquisition of both Fox and British pay-TV group Sky for nearly $100 billion in total would generate.

According to Reuters, Comcast is now talking to several investment banks to prepare a $60 billion cash bid for 21st Century Fox.

Reuters reports that Comcast is speaking with investment bankers about obtaining bridge financing for an all-cash offer.

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If Comcast struck a deal with Fox, the telecomm giant would hit a media jackpot, acquiring Fox's film, television and global businesses, giving the company a hefty portfolio to rival rising platforms like Netflix.

Raising the funds indicates the resolve by Comcast CEO Brian Roberts to do a deal despite rejections from media mogul Rupert Murdoch, who controls 21st Century Fox since late 2017. A source close to the situation cautioned that no final decisions have been made about a full-tilt push at a 21st Century Fox counteroffer to the Disney deal.

All in all, these deals have put Fox and Disney in precarious situations. In doing so, it topped an earlier offer for the entirety of Sky by Fox. The EC has the power to clear Comcast's £22 billion bid with or without conditions or it can kick off a four-month investigation if it has concerns about the deal.

Shares in Sky were down 1.5% at 1,352p in mid-morning trading.

Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, its sports channels FS1, FS2 and the Big Ten Network, into a newly listed company that it will spin off to its shareholders. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

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