Comcast Seeks $60B Loan for New Fox Bid

Comcast Seeks $60B Loan for New Fox Bid

Comcast Seeks $60B Loan for New Fox Bid

The Walt Disney Company agreed a US$52.4bn stock deal for 21st Century Fox assets including its film and TV studios, United States cable networks and global channels in one of the biggest media stories of 2017.

The Comcast CEO Brian Roberts would only go through with his effort to wrest 21st Century Fox away from Disney if a federal judge allows AT&T to merge with Time Warner. Quizzed on what would happen to the Sky bid in the event of a renewed bid for Fox, his only comment was that "there's not much to say on that question, unfortunately". (Nasdaq: CMCSA, CMCSK) takeover would obviously sink the deal between 21st Century Fox and Walt Disney Co. Comcast already has a $30 billion bridge loan to finance its Sky offer.

At the time, Walt Disney released a statement that said the companies had entered into a "definitive agreement" for the acquisition, which would include the 20th Century Fox Film and Television studios, along with cable and worldwide TV businesses.

Murdoch agreed to sell USA entertainment assets - though not the highly profitable Fox News Channel - to Disney, rejecting a higher offer for those assets from Comcast.

Comcast is one of the country's biggest pay-TV and internet-service providers, and it also owns NBCUniversal, giving it power up and down the industry chain - the same scale AT&T, a wireless carrier and pay-TV provider, is seeking in buying Time Warner. The fate of the deal, which has been scrutinized over anti-trust concerns, will be decided in June by U.S. District Court Judge Richard Leon.

Shares of Fox were last up 2.2 percent at $38.86.

The Fox-Sky deal has been held up by concerns about the influence Murdoch could wield over public opinion through owning all of the broadcaster as well as British newspapers the Times and the Sun. Reuters reports that Disney and Fox cited "regulatory hurdles" as reasons to reject the bid from Comcast, even though the companies did not reference Comcast explicitly.

Last December, Disney announced they would acquire Fox's film, television and worldwide businesses in an attempt to combat the growing threat of streaming giants Netflix and Amazon.

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