Instead, it appears to be willing to pile even more debt on its already-high load in order to block Disney from acquiring Fox's properties, including its 30% stake in streaming service Hulu. Comcast used Disney and Fox's regulatory filings to hone its offer after its initial bid was rejected, so this one is sure to pack a punch if it comes to fruition. If Disney gets into a bidding war with Comcast, then Comcast's bid for all of Sky and Fox could get close to $100 billion, these people said.
Shares of Twenty First Century Fox rose nearly three percent on Tuesday after Reuters reported that cable operator Comcast Corp was preparing an all-cash bid to rival a deal agreed late past year with Walt Disney's Co.
Comcast has also been inquiring with bankers about the potential for financing of an all-cash bid for Disney, should the conditions be favorable in the AT&T-Time Warner ruling, as first reported by Reuters. (NYSE: DIS), which in December said it would take control of Fox's film, TV and worldwide businesses in an all-stock transaction. A decision in the AT&T-Time Warner case is expected June 12. If the Disney buyout goes through, Marvel will get Fox's characters, like the X-Men and Fantastic Four, back without any issues. In doing so, it topped an earlier offer for the entirety of Sky by Fox.
Regulatory concerns aside, Fox last month viewed Disney's stock as "more valuable than Comcast's, based on historic prices, and felt that a deal between Disney and Fox would generate greater long-term value", says Reuters.
Shares in Sky were down 1.5% at 1,352p in mid-morning trading.
Shares of Fox were last up 2.2 percent at $38.86.
The buyout would include Fox channels including FX and Nat Geo, among others, but would not involve Fox News, Fox Business Network, Fox Sports 1 or 2, the Big Ten Network or the Fox broadcasting network and stations.