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Wednesday, Jun 7, 2023

Report: Comcast May Bid Against Disney for Fox Assets

Comcast Corp. is interested in making a bid for media assets of 21st Century Fox, according to a media report. CNBC reported that the Philadelphia media company could consider topping the $52.4 billion offer made by Walt Disney Co. for Fox’s movie and television studios, cable channels, foreign media outlets and a controlling interest in the Hulu streaming service. However, the news outlet said that “no decision” has been made by Comcast on a topping bid yet, citing sources familiar with the issue who asked not to be named because the matter is private. An unsolicited offer for Fox at a premium to Disney’s bid could persuade enough Fox shareholders to vote against Rupert Murdoch, the billionaire whose family controls 17 percent of all outstanding Fox shares, CNBC reported. Shares in Disney (DIS) closed down $4, or nearly 3.7 percent, to $104.70 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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