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

21st Century Fox logo

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.

Guardiola pens new deal with Manchester City
City chairman, Khaldoon Al Mubarak , said: " We are delighted to announce the extension of Pep's contract through to 2021 ". Guardiola won the Champions League twice with Barca but City were eliminated by Liverpool in this season's quarter-finals.

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.

Related News:

  • How the National Anthem Rule Affects the Colts

    How the National Anthem Rule Affects the Colts

    By a 69 percent to 22 percent margin, more African-Americans said protests of the national anthem were acceptable than not. He wouldn't say if any other owners declined to vote. "I'm glad they came to an agreement", Quarterback Dak Prescott said.
    Trump willing to walk away from North Korea summit: Mike Pence

    Trump willing to walk away from North Korea summit: Mike Pence

    The definition and sequencing of "denuclearization" is going to be the crux of the Trump-Kim summit. The word is that recently the Border has become much more porous and more has been filtering in.
    Air Force apologizes for tone-deaf 'Yanny-Laurel' tweet

    Air Force apologizes for tone-deaf 'Yanny-Laurel' tweet

    The initial tweet was deleted and replaced with an apology that said the initial post was "made in poor taste". The Taliban has claimed that it has taken control of the city, but the USA and Afghan governments deny that.
  • Vedanta shares drop 6% after Sterlite protests in Tamil Nadu

    Vedanta shares drop 6% after Sterlite protests in Tamil Nadu

    The protestors claimed that that the plant would pollute groundwater in their area, and causing serious environmental hazards. Public transport has been suspended from Thoothukudi to other parts of Tamil Nadu .
    Chilean bishops offer resignation to Pope Francis

    Chilean bishops offer resignation to Pope Francis

    Francis said last month he would take short-, medium- and long-term measures to try to fix the damage to the Chilean church's credibility.

    Horse race bet with William Hill

    How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.
  • Kilauea lava flows threaten geothermal power plant

    Kilauea lava flows threaten geothermal power plant

    Lava spatters "can weigh as much as a refrigerator, and even small pieces of spatter can kill", the spokeswoman told Reuters. The harrowing incident did little to dampen his awe of the volcano and its powers - or his desire to remain there.
    The FDA approved a prophylactic for migraines

    The FDA approved a prophylactic for migraines

    The two companies , Novartis and Amgen , are also collaborating on associated "The Aimovig Ally Product Support Program". FDA approves Aimovig (erenumab-aooe), a novel treatment developed specifically for migraine prevention [press release ].
    Arsenal to hold talks with Thierry Henry over manager's position

    Arsenal to hold talks with Thierry Henry over manager's position

    The 68-year-old Frenchman has hailed his former captain, who he says has "all the qualities" to manage the Gunners going forward. Mattias is ESPN FC's Arsenal correspondent.
  • No Man's Sky coming to Xbox One in July with multiplayer

    No Man's Sky coming to Xbox One in July with multiplayer

    Though multiplayer already exists in the game but Murray said this update will bring more interaction between players in the game. While on an Xbox show, the update will more than likely be coming to the PS4 and PC at or around that date as well.
    U.S.  threatens to punish Russia & Germany if they continue playing with gas

    U.S. threatens to punish Russia & Germany if they continue playing with gas

    Sandra Oudkirk , deputy assistant secretary in the State Department, said that the U.S. was strongly opposed to the Nord Stream 2 pipeline.
    Surgeon general: Most in USA  think opioid abuse is not local

    Surgeon general: Most in USA think opioid abuse is not local

    Jerome Adams helped during a medical emergency on his Delta Air Lines flight, Wednesday, to Jackson, Mississippi. Flight staff called for help, and Adams, along with two nurses, stepped in to help evaluate the passenger.


Most liked

Managing Arsenal is most attractive role in world football, says Gazidis
Arsenal's new manager Unai Emery and the club's chief executive, Ivan Gazidis , at the Emirates Stadium: "Unai has an energy".

Texas governor convenes school safety roundtable
Trochesset said 200 officers from law enforcement agencies throughout the region converged Friday afternoon on the shooting scene. It will include advocates both for and against further gun restrictions, mental health experts and social media experts, he said.

Crowd remembers victims of Manchester attack during 1 year anniversary
Over €2.7 million was raised from the gig and Grande was "moved" after being named an honorary citizen of Manchester . Julie, from Eccles, who came with her son Louis, said they wanted "to pay our respects as it just touched everybody".

US, South Korea work to keep North Korea summit on track
Trump weighed in Tuesday, say there was a "very substantial chance " the planned summit with Kim "won't work out". Observers will be watching the nuclear test site destruction ceremony closely for any clues to the North's mood.

IPL 2018: Calm Dhoni says it's more about 'dressing room atmosphere'
Catches win matches: Dwayne Bravo is a human highlight reel and the Mumbai crowd saw no different against Hyderabad. The two-time World Cup winning captain added, "And you can't do that without the players and the support staff.

US Employee in China Hit With Sound Sensations, Brain Injury
U.S. officials in Cuba, and their families, started describing unexplained health problems between November 2016 to August 2017. Consulate in the southern Chinese city of Guangzhou allegedly suffered a mild brain injury from abnormal sounds and pressure.

Amazon's Face Recognition Technology Raises Fears Of 'Big Brother'
Facial recognition software isn't new for law enforcement , which often relies on technology to help with investigations. Amazon has handed new technology that can identify faces in the crowd to law enforcement.

M&S profits dive 62% for full year
At M&S's clothing business, which has failed to keep up with trends for many years, revenue fell 1.4% to £3.74bn. In total, the closures will see the amount of floor space devoted to clothing and homeware slashed by 25%.

Suspect Named in Leak of 'Vault 7' and Top-Secret CIA Hacking Tools
Prosecutors, the Times also reports , plan to file a new indictment against Schulte that pertains to the leak , within 45 days. Schulte is being held without bail on child pornography charges brought against him in Manhattan federal court.

IPhone X Tesla Costs $4600 consists of Self-Charging Solar Panel
Russian luxury accessory-maker Caviar has introduced a $4500 solar-powered iPhone X , which it has dubbed the iPhone X Tesla . If you look closely, the handset bulks up a bit with the addition of the expensive case .

Sensex sheds over 300 points; Nifty below 10600
The 30-share Sensex surged over 436 points in early trade and the NSE Nifty soared almost 128 points before making a U-turn. During the week, the Sensex lost 687.49 points, or 1.93 per cent, while the Nifty dropped 210.10 points, or 1.94 per cent.

E-commerce Sales A Big Driver In Walmart Inc's (WMT) Earnings Beat
The retailer reported $1.33 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $1.37 by ($0.04). The earnings statement also emphasised steps taken by the company during the quarter to reposition its portfolio of businesses.

Tampa Bay Lightning look to even series vs. Washington Capitals
The break between periods seemed to rejuvenate Ovechkin, who assisted on Kuznetsov's game-tying goal 5:18 into the second period. But it came just six seconds after Lars Eller was paroled from the penalty box after his second violation of the night.

Bill Gates: Trump asked me the difference between HIV and HPV
Gates said he wasn't sure if Trump was serious or if he was just "being friendly", but he turned down the offer. Gates also said that Trump asked him on multiple occasions "if there was a difference between HIV and HPV ".

Cornered Trump accuses Obama administration of spying on his campaign
Mr Trump - as well as his attorney Rudy Guiliani and White House officials - have seized on the matter to undermine special counsel Robert Mueller's probe.