Comcast Lining Up Funds to Bid for Fox

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza formerly known as the GE building in midtown Manhattan in New York

It looks as though Comcast is preparing a bid to buy Fox assets ahead of Disney's upcoming deal.

Comcast Corporation is gathering resources for an all-cash offer up to $60 billion for 21st Century Fox's media assets despite a $52b all-stock deal already in place with the Walt Disney Company, according to Reuters.

Reports suggest that U.S. media giant Comcast is planning an all-cash bid of $60 billion (€50bn) for most of 21st Century Fox's assets, dependent on whether the United States administration approves AT&T's acquisition of Time Warner.

Hope Corrigan is an Australian freelance writer for IGN. For Comcast, which is much more reliant on licensed IP for theme parks than Disney, this eliminates the added hassle of licensing agreements or fees.

Disney shares fell 1 percent in morning trade in NY, while Comcast's dipped 3.5 percent to $31.25.

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This followed a bidding war with Comcast, which culminated when the latter company dropped its $60 billion offer on December 11.

Fox has been trying to win approval from the United Kingdom to buy the remainder, but those plans were disrupted last month after Comcast made a $22bn offer for the United Kingdom broadcaster. Comcast shares were down 1.5 percent to $31.90, while Disney shares were down 0.5 percent to $102.00.

Last November, it actually offered to acquire most of Fox's assets in an all-stock deal valued at $34.41 per share, or $64 billion. However, if the government does not approve, then Comcast has no intention of placing a bid.

Comcast, meanwhile, has seen its share price decline about 25% since it made its Sky bid in February, with investors frustrated that the cable company isn't using its free cash to institute stock buybacks.

Disney, which is buying some of Twenty-First Century Fox Inc's TV and film units, said total revenue rose to $14.55 billion from $13.34 billion. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.

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