Comcast ponders new bid for 21st Century Fox
WASHINGTON: US cable company Comcast, which in December dropped an attempt to acquire 21st Century Fox, is considering relaunching that bid even though Walt Disney Co has reached a deal, the Wall Street Journal reported.
The report, based on sources close to the matter, comes as Disney works to complete a $66.1 billion acquisition of part of Rupert Murdoch’s empire.
If approved by antitrust authorities, Fox would add the 20th Century Fox film company, British satellite television giant Sky and American video streaming platform Hulu to Disney’s portfolio.
According to the Journal, Comcast’s revival of its bid may be influenced by Fox publishing a proxy statement indicating the “general process that led up to sealing a deal.”
It said Comcast would be willing to offer Fox guarantees, including withdrawing certain assets such as local sports channels to avoid too heavy a concentration in television, to ensure the US government approves the deal.
Disney has offered to regroup the 20th Century Fox film studios with its own — they account for 40 per cent of American box office revenues between them.
In television, FX and National Geographic would join ABC and ESPN as channels owned by Disney. Authorities may not make a decision until 2019.