Disney CEO Bob Iger Responds to Comcast's Potential Bid for Fox Assets

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A new Comcast bid would be a direct challenge to Disney Chief Executive Bob Iger, whose effort to buy much of Fox was seen as a bold move to cement his legacy and secure Disney's future.

"I can only say, reiterate that we made a deal in December that received unanimous approval, which is important, by the 21st Century Fox board", said Iger. The bid would top Disney's offer of $52bn. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox's interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group. Fox previously rejected Comcast's $60 billion bid back in November due to similar regulatory concerns.

But now that Comcast is reportedly interested, this could change. The 21st Century Fox intellectual property would add to the exclusive content on that video streaming service.


Back in December, Disney said it reached an agreement with Fox to buy the company's film and TV studios, as well as its cable networks and worldwide TV businesses in a stock-based deal.

"Assuming Fox continues to pursue a deal with Disney, Fox will need to raise its bid for Sky from its current level.in order to win control", UBS analysts wrote in a note to clients. These two businessmen do not like each other.

John Nallen, now the chief financial officer of 21st Century Fox, is expected to become the chief operating officer of the so-called New Fox, the people said.


That being said, should the Time Warner and AT&T amalgamation pass, pending government approval, of course, in addition to 21st Century Fox, Comcast would also acquire United Kingdom satellite TV provider Sky - which would see the global telecommunications conglomerate's bid reach the $100B mark. Comcast believes in the judge's favorable ruling and are planning ahead by approaching investment banks in anticipation of that judgement.

"Comcast and Disney are likely to view this as the last remaining transformational deal in media". The Walt Disney Company has a large financial resources at their disposal.


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