Comment on Comcast raising $60 billion for potential Fox bid: report

Comcast raising $60 billion for potential Fox bid: report

Comcast is seeking to raise tens of billions of dollars in financing for a possible new offer for 21st Century Fox entertainment assets that the Walt Disney has agreed to purchase for $52 billion, according to a Reuters report.Comcast declined on Tuesday to comment.Raising the funds indicates the resolve by Comcast CEO Brian Roberts to do a deal despite rejections from media mogul Rupert Murdoch, who has controlled 21st Century Fox since late 2017.Comcast’s bridge financing is another step in an unfolding drama in the United States and Europe as the telecom and pay-TV business restructures itself in response to Netflix and to Murdoch’s decision to carve off significant parts of his media empire and sell them.Every company needs a vast scale to compete.Comcast already has made a formal unsolicited $31 billion offer in Europe for Sky satellite-TV business, which is partly controlled by Murdoch.Comcast is reportedly arranging $60 billion for an offer for the Fox assets and Sky, the report said.

 

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