In the wake of the AT&T-Time Warner merger ruling, where a U.S. District Court Judge ruled in favor of the merger, we’re now seeing further moves in what could become a “biding war” for 21st Century Fox assets.
Jill Disis of CNN reported,
[Comcast] on Wednesday formalized a $65 billion all-cash bid for most of Fox.
Notably, Comcast‘s bid is $20M less than that which AT&T paid to acquire Time Warner. That being due to 21st Century Fox only selling off its film and TV assets, while keeping assets that include, “Fox News, the Fox Sports national cable channels and the Fox broadcasting network.”
Of course this would result in those assets being, as Disis said, “spun off into a new company.”
It’s very clear that like AT&T, we’re seeing Comcast making efforts to capitalize on the ever-changing media landscape, as those 21st Century Fox assets (if successful) would add quite a bit to Comcast’s portfolio since acquiring NBC Universal back in 2011.