Comcast prepares to top Disney's $50 billion offer for Fox

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Disney has included a breakup penalty worked into the offer, should this bid not pass the regulators, and Comcast has allegedly worked this into their terms as well. Comcast this morning announced plans to launch its own bid from the movie studio, offering a vague outline for a planned bid.

In a statement on Wednesday, the company, which owns NBCUniversal, said: "Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney".

Disney has agreed to pay $52.4bn for Fox, but Comcast said it was in the "advanced stages" of preparing a better bid.

Disney reached a $52.4 billion deal in December to buy Fox's movie studio and regional sports networks, as well as cable channels FX and National Geographic. Disney would control Foxs cable and worldwide TV businesses as well.

The largest US cable operator said it was in advanced stages of readying a bid that would be superior to Disney's all-stock offer. The company says it wants its almost 1.5 million drivers to feel secure for the long haul. The company is close to getting United Kingdom government approval on its $31 billion bid to buy the British broadcaster.

Comcast chief Brian Roberts has laid down the gauntlet to Rupert Murdoch by declaring an audacious bid to disrupt the mogul's exit from global entertainment.

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There's also the small matter of needing Fox shareholders' approval for any deal to go through.

Sources familiar with the deal told Reuters at the start of May that Comcast was preparing bridge financing for a cash offer for the Fox assets, but Wednesday's statement is the first formal confirmation by the company it is ready to move.

Comcast may have a tough time winning over Fox's largest shareholder, Murdoch, however. For now, Comcast strictly seems interested in the company's entertainment division.

Earlier this week, Comcast's bid for Sky was given a boost when the culture secretary said he was "minded not" to refer it to broadcasting regulator Ofcom to assess any potential public interest concerns.

The US government is now suing to block a merger between Time Warner, and the telecoms giant AT&T. Separately, Comcast received preliminary consideration from a United Kingdom government official to pursue an effort to buy Sky for $31 billion. In doing so, it topped an earlier offer for the entirety of Sky by Fox. Moreover, as cord cutting grows in the U.S., and consumer media consumption habits change, the market will continue to see more big deals that strive to insulate players from industry disruption. "Chances are that ultimately it's going to be a five cornered fight - Netflix, Amazon, Google, Disney and Comcast", he added.

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