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Comcast prepares to ‘gate-crash’ Fox/Disney deal

Company reportedly planning to make an all-cash offer for 21st Century Fox's media assets

Comcast is reportedly planning to gate-crash Disney’s bid for the media assets of 21st Century Fox.

According to Reuters, Comcast Corp is asking investment banks to increase a bridge financing facility by as much as $60 billion so it can make an all-cash offer.

Fox accepted Disney’s £39 billion bid for the company in December of last year.

Reuters says Comcast chief executive Brian Roberts only plans to proceed with the bid if a federal judge allows AT&T Inc’s planned $85 billion acquisition of Time Warner Inc to proceed. The US Department of Justice has opposed the AT&T-Time Warner deal over antitrust concerns, and a decision is expected in June.

Last month, Comcast officially tabled a £22 billion offer for Sky.

The report from Reuters says Rupert Murdoch, who owns almost 17 per cent of Fox and has about 40 per cent of the voting power, prefers to be paid in stock rather than cash for the Fox assets, as it would make the transaction non-taxable for shareholders.