Comcast's Fox asset bid likely Wednesday
Comcast's Fox asset bid A contending Comcast offer for the media resources of Twenty-First Century is likely coming Wednesday, CNBC's David Faber says - the day after a choice is expected in the point of interest antitrust preliminary over AT&T's $85B buyout of Time Warner.
"It most likely will be the thirteenth, from what I hear - if in truth you get an unmistakable decision from Judge Leon in the agreed, saying [the AT&T] arrangement can proceed," Faber says.
In attempting to outfox Disney in the race for Fox resources, Comcast will coordinate any of Disney's antitrust guarantees - and it's broadly anticipated that would offer a more profitable arrangement by and large
Comcast's Fox asset bid
While no final decision has been made, Comcast said its work to finance the offer -- and preparation to file key regulatory statements -- is “well advanced.” A person familiar with the discussions said earlier this month that Comcast was mulling such a step. Comcast was talking to investment banks about obtaining bridge financing for the all-cash deal, the person said at the time.
A counterbid would roil a plan by Disney Chief Executive Officer Bob Iger to bolster the company’s dominance in entertainment. Fox agreed in December to sell its film and TV studios, cable channels including FX and National Geographic and other assets to Burbank, California-based Disney in an all-stock deal. Comcast said at the time that it “never got the level of engagement needed to make a definitive offer.”