Comcast offers to buy Fox media assets for $65 billion in cash

(Reuters) – Comcast Corp (CMCSA.O) on Wednesday offered $65 billion for the businesses Twenty-First Century Fox (FOXA.O) had already agreed to sell to Walt Disney Co (DIS.N), a day after AT&T (T.N) won approval to buy Time Warner (TWX.N).

A sign is shown at the entrance to Fox Studios in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake

Comcast confirmed last month that it was preparing a higher all-cash offer than Disney’s $52 billion all-stock deal for Fox’s media assets, but had been awaiting the outcome of the court hearing on the AT&T deal before bidding formally.

Fox in December agreed to sell its film, television and international businesses to Disney.

Reporting by Arjun Panchadar in Bengaluru; Editing by Maju Samuel

JEFFREY LIPTON in BARBADOS – http://feeds.reuters.com/~r/reuters/businessNews/~3/Oci0NZEMPLo/comcast-offers-to-buy-fox-media-assets-for-65-billion-in-cash-idUSKBN1J92Z2

Author: JEFFREY LIPTON BARBADOS