Comcast has formalized a $65 billion all-cash bid for most of Fox. It’s a dramatic attempt to undercut Disney, which reached a $52.4 billion deal in December for the same film and TV assets.
Comcast’s ofter comes one day after a federal judge ruled that AT&T could buy Time Warner. The Justice Department had sued to stop the deal.
The offer kick off a new bidding war between Comcast and Disney. Both are eager to buy Fox as a way to bolster their influence and their ledgers.
Comcast was in talks to buy Fox late last year. But it lost out to Disney in part because major Fox investors weren’t sure the proposal would win over government approval. Around the same time, the Justice Department file paper work in court to block the AT&T-Time Warner deal.
Comcast re-entered the picture last month when it said publicly that it was preparing a bid for Fox.
