Turns Out Disney Might Not Buy Fox After All

Comcast only plans to proceed with the bid if a federal judge allows AT&T's planned $85 billion acquisition of Time Warner to proceed. Matt Rourke  AP

Fox stock jumps after report that Comcast is preparing to battle Disney for megadeal

One of the largest broadcasters and internet service providers, Comcast, has reportedly been seeking investment to outbid by $8 billion another entertainment conglomerate, the Walt Disney Company, which has already offered $52 billion, and acquire 21st Century Fox.

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Now Comcast, which owns NBC and Universal Pictures, is coming back with another attempt.

Comcast isreportedly preparing a new bid for 21 Century Fox.

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In the event done, Disney would get Fox's television and film studios, regional sports networks, cable stations National Geographic along with FX. Comcast offered a higher price than Disney for the assets originally, according to Fox filings, but Disney's bid was chosen due to regulatory concerns. Murdoch was concerned about the reaction of Washington regulators to a deal with Comcast. AT&T says the acquisition of Time Warner would allow it to transform its business.

Comcast CEO Brian Roberts plans to table a bid only if a federal judge allows AT&T Inc's planned $85-billion acquisition of Time Warner Inc to proceed, the report said.

Back in December, Disney said it reached an agreement with Fox to buy the company's film and TV studios, as well as its cable networks and worldwide TV businesses in a stock-based deal.

"Assuming Fox continues to pursue a deal with Disney, Fox will need to raise its bid for Sky from its current level.in order to win control", UBS analysts wrote in a note to clients. Imagine that? It is expected for there to be a ruling in June, which will presumably indicate whether the judiciary system wants to give any real teeth to the Justice Department in regulating telecommunication companies. Instead of being sold, those properties would be combined "into a newly listed company that will be spun off to its shareholders", the Fox/Disney announcement from December said. Comcast's stock fell 5.5 percent Tuesday to $30.59 in response to the news.

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