Yesterday’s federal approval of AT&T’s $108.7 billion purchase of Time Warner Inc, is expected to trigger a flurry of merger and acquisition deals within the Media and Entertainment industry.
Comcast is expected to kick things off with a formal bid for 21st Century Fox’s assets – the bid could come as early as today.
US District Court Judge Richard Leon issued his decision on Tuesday, rejecting the United States Department of Justice’s efforts to block the AT&T-Time Warner deal, and impose no conditions.
Comcast had already made clear intention to bid for the Fox assets – which includes Sky. Analysts expect it to make a formal bid today.
Analysts are also predicting more deals, with Discovery – which acquired Scripps Networks Interactive last year – tipped to seek out more properties to increase its content offering. CBS and Viacom could merge, or seek out additional scale, and standalone channels such as AMC Networks could find themselves searching for partners. Lionsgate Entertainment, which purchased premium channel Starz in 2016 for $4.4 billion, could be a consolidator or a target itself.