Friday, 25 May, 2018

Comcast Is Preparing a $60 Billion Cash Bid for Fox

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza formerly known as the GE building in midtown Manhattan in New York Fox stock jumps after report that Comcast is preparing to battle Disney for megadeal
Jan Cook | 09 May, 2018, 00:59

According to Reuters, Comcast is preparing to make a $60 billion all-cash bid for 21st Century Fox, after Disney made an offer of $52 billion for Fox back in December.

Sources told the outlet Comcast has been speaking with investment banks about getting ahold of bridge financing to stop the deal between Disney and Fox.

Comcast also plans to acquire 100 percent of United Kingdom satellite broadcaster Sky as part of an improved all-cash bid. "The UK government has stated that it will give its ruling on the Fox/Sky deal by 13 June and it is at this point we think we could see Fox raising its bid for Sky", UBS said.

The Fox-Sky deal has been held up by concerns about the influence Murdoch could wield over public opinion through owning all of the broadcaster as well as British newspapers The Times and The Sun.

The latest move shows how AT&T's controversial bid for Time Warner, which owns media properties including Warner Bros and HBO, has rattled telecom and media competitors such as Comcast, which are anxious AT&T would become a dominant market force if allowed to acquire Time Warner.

Nxp Semiconductors NV (NXPI) Shareholder Farallon Capital Management LLC Increased Its Stake
Fieldpoint Private Securities LLC acquired a new stake in shares of NXP Semiconductors during the third quarter worth $113,000. On Thursday, February 8 the company was maintained by Bernstein. "Buy" rating has 2, "Sell" are 0, while 7 are "Hold".

A new report from CNBC indicates that Comcast, which has long tried to acquire assets from 21st Century Fox, could upend the deal offered by the Walt Disney Company.

Murdoch agreed to sell US entertainment assets - though not the highly profitable Fox News Channel - to Disney, rejecting a higher offer for those assets from Comcast. By U.K. law, Disney would have to make an offer for all of Sky if it were to acquire Fox's 39% interest. Comcast shares were down 1.5 percent to $31.90, while Disney shares were down 0.5 percent to $102.00.

Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, its sports channels FS1, FS2 and the Big Ten Network, into a newly listed company that it will spin off to its shareholders.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc.

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