Published: Thu, May 10, 2018
Culture&Arts | By Drew Collins

Media powerhouses go after big ad dollars for the upcoming TV season

Media powerhouses go after big ad dollars for the upcoming TV season

Reuters earlier reported that Comcast was asking banks to arrange financing that would give it the ability to pursue an all-cash bid for the Fox assets.

According to CNBC, Comcast is willing to offer $60B in cash to 21st Century Fox, eclipsing The Walt Disney Company's $52B proposal, in the hopes of acquiring the company and most of its media assets.

Late Monday, Reuters reported that Comcast was lining up financing to make an all-cash bid for Fox's vaunted TV and movie studio, FX, National Geographic channels, almost two dozen regional sports networks and control of the online streaming service Hulu. Comcast's potential $60 Billion bid beats the $52 Billion bid already offered by The Walt Disney Company.

The Walt Disney Company and Twenty-First Century Fox, Inc. Disney is going to be launching its own video streaming services in 2019.

Before the Disney deal was reached, Comcast had submitted an offer for the Fox assets that was 16% higher, but Fox turned it down partly over fears that it wouldn't pass muster with antitrust regulators, according to a regulatory filing last month and people familiar with the situation.

The assets Comcast and Disney are seeking to purchase include the Twentieth Century Fox TV and film studio, cable networks and global properties including Fox's 39% stake in European pay TV operator Sky PLC.

Lachlan Murdoch now serves as executive co-chairman of 21st Century Fox. These two businessmen do not like each other.

It is speculated that once and if a federal judge rules in Comcast's favor regarding the AT&T-Time Warner acquisition, that Comcast will then focus on 21st Century Fox.

It is doubtful that Comcast's offer for 21st Century Fox will be the last offer for 21st Century Fox. The 21st Century Fox deal is their latest battleground.

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