Comcast Counters Disney’s Offer for Fox with More Lucrative Deal

Will Comcast take Fox from under Disney?

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Comcast, which runs NBC, made waves countering Disney’s offer to acquire Fox’s assets by an estimate of nearly $8 billion. Disney owns ABC.

It’s a footrace to the finish who will come out on top as Comcast CEO Brian Roberts is putting his chips to the table against Disney’s Bob Iger for Rupert Murdoch’s media empire, according to Deadline.

The tentative agreement will see Fox’s assets sold to Disney for $52.4 billion, but Comcast’s offer is believed to be in the $60 billion range.

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What Fox is offering is everything except, Fox broadcast network, Fox News and the company’s portfolio of local TV stations. This leaves Fox film and TV studios and a wide range of cable networks including FX, National Geographic and regional sports operations.

In a statement Comcast said it “confirms that it is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney.” While the company said that “no final decision has been made,” It said that “any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney.” Comcast added “The work to finance the all-cash offer and make the key regulatory filings is well advanced.”

Comcast entered the fold to attempt to acquire Fox’s studio assets last fall, but financial analysts doubt the chances of acquisition given the amount of debt it would be taking on.

What will Disney and Fox do? Will Disney up the ante? Will Disney and Comcast split Fox’s assets like a wishbone?