Comcast planning all-cash Fox bid?

Fox hunt heats up as Comcast prepares to duel with Disney over Rupert Murdoch's company

Comcast planning all-cash Fox bid?

For its part, Disney successfully outbid Comcast in December for a collection of assets that include Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, along with the television creative units, Twentieth Century Fox Television, FX Productions and Fox 21.

Shares of Twenty-First Century Fox Inc rose as much as 3.4 percent on Tuesday after Reuters reported that cable operator Comcast Corp was preparing an all-cash bid to rival a deal agreed late previous year with Walt Disney Co. A ruling in the case is expected next month.

Hope Corrigan is an Australian freelance writer for IGN. Comcast itself owns 30% of Hulu, but Disney would have majority ownership through its $52.4 billion stock offer - assuming the deal goes through.

Shares in Rupert Murdoch's 21st Century Fox rose overnight on the speculation.

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.

He also pointed to the huge increase in Comcast's debt the acquisition of both Fox and British pay-TV group Sky for nearly $100 billion in total would generate. On April 25, it announced a $31 billion acquisition offer for Sky, the British satellite service 39% owned by Fox. The Roberts family controls Comcast through a dual-class stock structure. However, if the government does not approve, then Comcast has no intention of placing a bid.

Disney has committed to share buybacks as a way of returning cash to Fox shareholders.

However, according to The Wall Street Journal, quoting sources close to the company, Comcast is now pulling together financing for a rival cash bid.

Shares of the media conglomerate, which is in the process of buying film and TV assets from Twenty-First Century Fox Inc, rose 1.3 percent to $103.08 in after-hours trading on Tuesday. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy.

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