Comcast could return with fresh offer for Fox assets

Comcast is considering submitting a new offer for rival media company 21st Century Fox’s business assets, despite the latter having agreed a deal with Walt Disney in December, according to reports.

In December, Walt Disney announced a $52.4bn (€44.2bn) deal to acquire a significant share of 21st Century Fox’s business interests in an agreement that would ultimately lead to it securing control of European pay-television group Sky and media company Star India.

However, the Reuters news agency, citing people familiar with the matter, said that the latest development suggested that Comcast believes it still has a chance of striking a deal with Fox. The New York Times newspaper said that Comcast’s renewed interest in Fox could force Walt Disney to increase its offer.

Comcast’s bid of more than $60bn late last year was rejected due to reported concerns that regulators would block the deal.

Reuters said that Comcast might decide against making a renewed offer, but it will make a decision after seeing how Fox justifies its deal in its regulatory filing to shareholders before they are asked to vote on the transaction this summer.

Comcast could remove certain assets from the deal, including Fox’s regional sports channels, according to the Wall Street Journal newspaper, which added that it is possible that Comcast could focus on an asset such as Sky.