Comcast May Revisit Bid to Buy 21st Century Fox

Rosenblatt Comcast Challenge For Fox Assets Could Reduce Arbitrage Discount

Comcast May Revisit Bid to Buy 21st Century Fox (Report)

Cable giant Comcast Corp.is contemplating reviving its pursuit of 21st Century Fox, after its bid for the company's entertainment assets was turned down despite being over 15% higher than that of eventual buyer Walt Disney Co., according to people familiar with the situation.

It said Comcast would be willing to offer Fox guarantees, including withdrawing certain assets such as local sports channels to avoid too heavy a concentration in television, to ensure the USA government approves the deal. The Comcast price was in the low $60 billion range to Disney's $52.4 billion, the media outlet said. Comcast, Disney and Fox gave no immediate comment.

The site notes such documents generally avoid using specific company names, but can reveal which bidders were serious contenders. The Disney deal has not yet closed, and Comcast has not decided whether it will act.

But Comcast executives were known to have strongly considered making a counter bid against Disney when the Disney-Fox deal was first unveiled December 14.

Comcast might be prepared to offer protections to Fox such as agreeing to remove certain assets from the deal that prove controversial in Washington, D.C., including regional sports channels, according to the Wall Street Journal, which first reported on Comcast's deliberations.

The Disney-Fox deal would give Disney a controlling stake in Hulu, making the company "a much more formidable and unsafe competitor down the road on streaming", according to the LA Times.

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