Disney Will Challenge Comcast, Raise Bid for Fox Disney isn't going to let Comcast gobble up Fox without a fight. Last week we noted that Comcast unveiled a $65 billion all-cash bid for Fox in the hopes of undermining Disney's own $52.4 billion offer, setting up a showdown between two companies that haven't got along well since Comcast's failed hostile takeover attempt of Disney back in 2004. Both companies are hoping to gobble up a huge chunk of Fox assets including the FX channel and a large number of regional sports networks, while leaving channels like Fox Sports and Fox News under Murdoch family control. But Disney now says it will likely boost its offer to acquire Fox in the hopes of challenging Comcast: quote: Disney is expected to add cash to its bid for Twenty-First Century Fox assets, sources tell CNBC...Fox's board meets Wednesday to discuss Comcast's bid, and would engage in talks if it deems the offer superior. If that happens, Disney has five days to match Comcast's offer. Like AT&T and Verizon, Comcast is trying to avoid becoming a dumb pipe by increasingly shifting focus from broadband and cable TV to media and online advertising. Comcast felt buoyed by AT&T's merger victory over the DOJ, seeing it as setting a likely precedent resulting the in the DOJ being less likely than ever to seriously challenge major mergers and consolidation in the media and telecom space. But consumer advocates continue to worry that letting companies that enjoy a monopoly over broadband service also dominate media creates all manner of new anti-competitive pitfalls, especially in the wake of the Trump FCC's attack on net neutrality, and over-arching efforts to obliterate oversight of these companies on both the state and federal level. Like AT&T and Verizon, Comcast is trying to avoid becoming a dumb pipe by increasingly shifting focus from broadband and cable TV to media and online advertising. Comcast felt buoyed by AT&T's merger victory over the DOJ, seeing it as setting a likely precedent resulting the in the DOJ being less likely than ever to seriously challenge major mergers and consolidation in the media and telecom space. But consumer advocates continue to worry that letting companies that enjoy a monopoly over broadband service also dominate media creates all manner of new anti-competitive pitfalls, especially in the wake of the Trump FCC's attack on net neutrality, and over-arching efforts to obliterate oversight of these companies on both the state and federal level.







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Most recommended from 48 comments



Anon736d9

@rr.com 18 recommendations Anon736d9 Anon Hope Disney Wins Would rather have Disney win than Comcast. Comcast is a big distributor of content which basically has a monopoly in its territory for the most part. Disney can also distribute their own content via their own streaming service, but, at least, anyone with an internet connection can get it. blackflag (banned)

join:2006-01-31

Wilmington, DE 9 recommendations blackflag (banned) Member Battle of the $hitheads Let's see who knocks who off the $hithead mountain first

karlmarx

join:2006-09-18

Moscow, ID 7 recommendations karlmarx Member The start of a serious economic problem All these mega mergers are starting to make it look like the roaring 20's again. (umm, 1920's for those unaware of history). Corporate debt levels are at record levels. Remember the bank crisis 10 years ago? Those banks were overleveraged. The same thing is happening with AT&T, Comcast, Disney, etc. Basically they are pulling a trump. Go into massive debt, then declare bankruptcy, and get the goverment to declare them 'too big to fail'. This is just history repeating itself, granted, on a much shorter timeframe. But we are being led by a moron who considers bankruptcy a perfectly valid business plan, and they megacorps have bought enough congresscritters to ensure they will stay in business, no matter how stupid they are. Comcast, like AT&T, is terrified that they won't be 'relevant'. Guess what, you can be a content company, or you can be a communications company. There REALLY ISN'T this magical 'synergy' by combining the two. They can make enough money doing ONE THING really well, but the corporate greed and bonuses they get by piling on debt means the CEO's don't really care if their company exists in 10 years. Tch81

join:2015-08-10 2 recommendations Tch81 Member $65B cash? I guess those $11 modem rental fees really add up!