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The cable television giant is aiming to introduce an offer they say 21st Century Fox won’t be able to refuse. Not long ago, Disney went public with its plan to buy 21st Century Fox, a move that would take them closer to their aim of creating a competing streaming platform to Netflix. Now, in another bold move, Comcast has made its intentions to be part of the purchase clear. Official word says it is most likely looking to top Disney’s offer. An all-cash offer is said to be put forward soon by the cable television company for an amount that is reported to surpass the $25 billion.
The proposal, reportedly in its finishing stage, is believed to be in no way related to the broadcaster’s efforts to purchase Sky in Europe; both offers are independent and still on the running. As the current offer does not include Fox News or Fox Sports, Comcast is aiming to maintain both its deals with Fox and Sky on equal operation. This marks the second time Comcast has tried to buy Fox, for in 2017 they presented an offer to the Murdochs (life-long owners of the company), but it was quickly rejected after certain parts of the deal raised questions about owner’s participation if the agreement were to be signed. In an official statement, the company made its intentions public, while at the same time reaffirming that the deal would be advantageous to shareholders and the businesses the broadcaster would purchase from Fox.
After multiple questions were raised, Fox officials have not confirmed if in fact they are seriously considering to take on Comcast’s offer. A representative of Lachlan Murdoch, the company’s executive chairman, stated that they were still abiding to the proposal they had received from Disney and were looking forward to bringing negotiations to a closure. As the battle for a streaming monopoly intensifies, experts believe a move like this would cement Comcast’s image as a prime supplier of entertainment, in an era where Netflix has taken over viewer’s preference with the multiplicity of content the California-based company has been able to acquire. No official word has been given by any of the parts, which has prompted media outlets to question the veracity of Comcast’s claim, especially given its prior unsuccessful attempt. As for now, Disney’s offer seems to be the one to beat, considering the media giant’s ability to persuade their potential business prospects.
