COMCAST WEIGHS INTO FOX RACE
BROADCASTING giant 21st Century Fox says it has received Comcast’s unsolicited $US65 billion ($86 billion) offer for its assets and will review it.
Comcast and Disney are battling over 21st Century Fox’s assets including its movie studios, cable networks and international business.
The Fox television network and some cable channels including Fox News and Fox Business Network, are not part of the deal.
In December, 21st Century Fox agreed to Disney’s $US52.4 billion offer and shareholders were set to vote on it on July 10.
In a statement yesterday, 21st Century Fox said it remained subject to its agreement with Disney and would “carefully review and consider” the Comcast proposal. The company has not yet decided if it will postpone or cancel the July 10 vote on Disney’s offer.
Comcast’s $US65 billion cash offer for 21st Century Fox’s entertainment businesses is higher than the $US60 billion pundits had been predicting.
Comcast has officially made a $65 billion all-cash bid for the majority of Fox.