Comcast prepares to challenge Disney's offer for Fox assets.
Comcast is in talks with investment banks to increase a bridge loan by up to $60 billion so it can make a bid for Fox's media assets, three people familiar with the matter told Reuters earlier this month.
(Reuters)- Comcast confirmed on Wednesday that it is in advanced stages of preparing an offer for the businesses that Twenty-First Century Fox agreed to sell to Walt Disney.
The US cable TV operator also said that any offer for Fox's assets will be entirely in cash and will have a premium over the current value of the all-stock offer made by Disney.
In December, Disney made a $52,4 billion stock offer to buy Fox's film, television, and international businesses to bolster its bid against digital rivals Netflix and Amazon.com.
Comcast is in talks with investment banks to increase a bridge loan by up to $60 billion so it can make a bid for Fox's media assets, three people familiar with the matter told Reuters earlier this month.
"Although no final decision has been made at this time, work to fund the cash offering and file key regulatory documents is well advanced," Comcast said Wednesday.
Representatives from Fox and Disney were not immediately available for comment.