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May 07, 2018

Report: Comcast could make $60 billion cash bid for Fox

Sources tell CNBC: The Philadelphia company would only make an offer if government approves AT&T-Time Warner deal

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Comcast Center Thom Carroll/PhillyVoice

The Comcast Center in Center City.

Comcast plans a $60 billion cash bid to acquire most assets of 21st Century Fox, but only if AT&T's acquisition of Time Warner gains government approval, CNBC reported Monday night, citing unnamed sources.

The bid by the Philadelphia company would be $8 billion more than Disney's offer of $52 billion.

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According to the CNBC report:

Comcast also plans to acquire 100 percent of U.K. satellite broadcaster Sky as part of an improved all-cash bid. If Disney gets into a bidding war with Comcast, then Comcast's bid for all of Sky and Fox could get close to $100 billion, these people said.

Comcast is asking investment banks to increase the bridge financing facility they have already arranged for the Sky offer by as much as $60 billion to finance the Fox bid, Reuters previously reported.

Comcast believes Disney cannot match an all-cash bid for Fox because if it adds more stock to a deal, Fox stock will go down, depressing the value of the offer, sources told CNBC.

Read more on the possible bid by Comcast at