COMCAST Confirms All-Cash Offer For 21ST CENTURY FOX Imminent

21st Century Fox
Credit: 21st Century Fox

Updated May 23, 2018: Comcast Corporation has confirmed that they are in the "advanced stages" of preperation for an all-cash offer for 21st Century Fox - despite the already agreed-upon $52.4 billion offer from the Walt Disney Company, according to Variety.

Comcast has not revealed the amount it is planning to offer, however the company describes it as a "premium to the value of the current all-share offer from Disney" and would be "at least as favorable to Fox shareholders as the Disney offer."

Although Fox and Disney have already announced a deal with each other, it is awaiting several regulatory hurdles which both parties expect to take until at least the fall of 2019.

According to Variety, Fox retained the option to nix the Disney deal before it goes through, but at a cost of $1.52b.

Original Story: 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.

Citing three unspecified sources "familiar with the matter," the news agency reports that Comcast CEO Brian Roberts sees an opening if U.S. federal courts approve AT&T's $85b acquisition of Time Warner to go forward - a ruling is expected on that matter in June.

Back in November, Comcast made a $64b all-stock offer for the Fox assets up for sale, but were rejected according to Reuters due to "regulatory hurdles."

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