Comcast joins the Fox hunt


Comcast joins the Fox hunt

Fox declined to respond to requests for comment. The Company's segments include Cable Network Programming; Television; Filmed Entertainment, and Other, Corporate and Eliminations.

Comcast's prelude is astonishing provided the Justice Departments resilient perspective on AT&T-Time Warner. The wireless company could have also been spurred on by the willingness of Fox to sell and AT&T's planned purchase of Time Warner.

In August 2016, Comcast completed a $3.8-billion acquisition of DreamWorks Animation, Jeffrey Katzenberg's boutique studio that created hits such as "Kung Fu Panda" and "Shrek". But with about 25 million customers for its internet and television service, Comcast has plenty of free cash flow to make big-ticket purchases. The Cable Network Programming segment produces and licenses news, business news, sports, general entertainment, factual entertainment and movie programming for distribution. NBC already has two cable news channels, CNBC and MSNBC.

21st Century Fox has not directly addressed the speculation.

While no media company can own two broadcast networks, neither of these two conglomerates are interested in buying up all of Fox, said CNBC's sources.

Comcast is reportedly bidding for the same assets, while Verizon and Sony are also interested in acquiring portions of the company, raising the prospect of a potential bidding war.

21st Century Fox is up 7.43% this year after all the reports of buyers.

The Fox talks come amid a frenzy of consolidation as media companies race to bulk up to better compete against tech giants Google, Amazon and Netflix that are upending traditional TV business models.

Reports of Disney's talks with 21st Century Fox broke on November 6, and some speculated that the assets Disney was interested in could help boost the amount of content Disney would be able to offer in its recently announced streaming service.

The News Corp name was retained for the company that operates newspapers including The Wall Street Journal and titles in Australia and Britain.

"However, we view the likelihood of any real deal being consummated as being exceedingly low, especially given the regulatory scrutiny over the pending AT&T-Time Warner Inc. deal", Ryvicker said. Of the assets that are on the block, about 70 percent of the revenue comes from global businesses.

The source told AFP that Comcast, which controls the NBCUniversal media group along with its large cable operations, approached Fox, along with Verizon, a major telecom and cable operator that also owns the internet brands AOL and Yahoo.



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