The Fox board, which had agreed last year to sell these assets to the Walt Disney Co. in a $52.4 billion all-stock transaction, must evaluate whether the U.S. cable giant’s competing offer has a chance of becoming a superior offer before it could enter negotiations with Comcast, according to the report.
This regularly scheduled board meeting was set before Comcast upended the sale process with its more lucrative offer for the same collection of assets, which include Fox’s plans to sell the film and television studios, its FX and National Geographic cable networks and its stake in the UK’s Sky, Star in India and the streaming service Hulu.
Fox declined to comment on the report.
Comcast had previously been in the running to buy Fox, but lost out to Disney — in part, because of perceived regulatory hurdles. Now, Comcast is back, saying it has addressed anitrust concerns.
“We are … highly confident that our proposed transaction will obtain all necessary regulatory approvals in a timely manner and that our transaction is as or more likely to receive regulatory approval than the Disney transaction,” Comcast CEO Brian Roberts said in a letter to the Murdochs.