If you are one of the many hoping Disney would gets its hands on Fox’s film and television assets, you might want to hold off on the excitement. According to a new report, Comcast’s choice to outbid Disney with an all-cash offer has put the entire deal in serious jeopardy.
According to a new article by The Hollywood Reporter, analysts at Wall Street say there’s a real reason to worry about the Disney-Fox merger. Richard Greenfield of BTIG says that Rupert Murdoch, the man in charge of Fox, is a businessman first and foremost, meaning that he wants to do the best business with the highest bidder, leaving Murdoch to negotiate with Comcast’s $60 billion bid.
Last month, analysts and fans everywhere learned that Comcast wasn’t ready to let up on losing Fox’s assets to the house of mouse. The company confirmed it was preparing a superior bid to the one Disney made. As it stands, Disney has agreed to purchase Fox for $52.4 billion, giving the media giant all of Fox’s film and TV studio IPs (not including the Fox broadcasting network or Fox Sports). The deal would also rollover Fox’s interest in the Sky network as well as a few TV stations.
Of course, many fans felt the Comcast deal would be looked over in favor of Disney’s, but that may not be the case. Greenfield is warning fans that Murdoch just wants the most money for the assets Fox is about to part with. He spoke with the digital news service Cheddar about Comcast and Fox:
“Rupert, like his shareholders, are now fully aligned and simply want the best possible outcome, meaning the most dollars, whether that’s cash or cash and stock.”
“Rupert Murdoch is not set on selling to Disney. This is a real opening for Comcast to come in with a very significant premium bid to where Disney is now.”
While Greenfield is preparing fans for the worst, another analyst has spoken out about Disney’s unwillingness to back down from this battle. Michael Nathanson spoke to Variety about Comcast re-entering discussions:
“I don’t think there’s a break point for these guys to walk away,” the analyst said. So, the ball is in Disney’s court as of right now.”
Do you think a bidding war is about to break out? Let us know in the comments down below!