Comcast to rival Disney’s Fox bid

US media giant Comcast is eyeing a US$52bn bid for the 21st Century Fox assets that had seemed set to be acquired by Disney and has notified the European Commission (EC) it intends to bid for satcaster Sky.

The Walt Disney Company agreed a US$52.4bn stock deal for 21st Century Fox assets including its film and TV studios, US cable networks and international channels in one of the biggest media stories of 2017.

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

NBCUniversal’s owner is awaiting the outcome of the AT&T and Time Warner merger, which is opposed by the Trump administration, before it proceeds.

The move came as Comcast officially notified the EC of its intention to bid for Sky.

21st Century Fox had initially made a bid to take control of the 61% of Sky that it doesn’t already own in a £11.7bn (US$15.8bn) deal, but that has become mired in regulatory and political issues over media plurality.

Comcast subsequently swooped in with a £12.50 per share offer in April, worth a total of £22.1bn. Fox’s offer is worth £10.75 per share.

The EC, which had previously approved Fox’s bid, can impose conditions or open an investigation into the deal if it chooses.