For those unaware, Comcast was another corporate entity that proposed to acquire 21st Century Fox last year. In fact, the broadcasting conglomerate pushed a more generous deal than Disney.
For those unaware, Comcast was another corporate entity that proposed to acquire 21st Century Fox last year. In fact, the broadcasting conglomerate pushed a more generous deal than Disney. However, Comcast was overlooked by 21st Century Fox because Disney alone agreed to throw in an additional $2.5 billion should federal regulators curb the acquisition from moving forward.
According to a new report from CNBC earlier today, Comcast is readying up a new bid that could essentially beat Disney to the punch. The largest broadcasting and cable television company in the world, at least by revenue, is said to be currently in talks with banking sectors for an all-cash payment for 21st Century Fox.
There is no word on the figure that Comcast is ponying up but it would likely be more than the $52 billion that Disney has placed in front of 21st Century Fox. The new deal is being reviewed for the time being but should be ready by summer next year, and will eventually force Disney to make a counter-offer.
“Regarding potential acquisitions, it is our job to continuously evaluate whether there are opportunities for us to create value,” said Comcast CFO Michael Cavanaugh in a recent earnings call. “But should we pursue anything while our stock is at these levels, while circumstances can always change, I think it is unlikely that we would use Comcast shares as a medium of exchange for a transaction.”
While fans might consider it unfathomable for someone other than the Mickey Mouse house to pick up franchises like the X-Men, Fantastic Four, Deadpool, Alien, and more to potentially expand the Marvel Cinematic Universe, it should be noted that Comcast has similar plans.
The goal is to create a shared Dark Universe that features new versions of classic movie monsters for the audience. The Mummy (2017) was intended to launch this journey but fell apart with disastrous reviews from critics. Hence, it is easy to see how acquiring assets from 21st Century Fox will give a major boost to the creation of that shared universe.
