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Comcast deal riskier than Disney, says Fox

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MUMBAI: Everyone is keeping an eye out to know when Fox will pick a partner in the tug of war between Disney and Comcast.

Now, the American multinational mass-media corporation, 21st Century Fox is telling its shareholders that the deal with Comcast carries higher risk than the deal with Walt Disney. Fox said that risk of the deal being delayed or denied lies due to antitrust regulators. 

In a SEC filing, Fox outlined eight concerns about the potential Comcast deal. The filing read: “While a potential Disney transaction was likely to receive required regulatory approvals and ultimately be consummated, a strategic transaction with Comcast "a strategic transaction with Comcast would be subject to a greater degree of regulatory uncertainty, including the possibility of an outright prohibition and a higher risk of divestitures and delay to closing, as compared to a strategic transaction with Disney.”

The board for Rupert Murdoch led company, had stated that a strategic transaction with Comcast continued to carry higher regulatory risk leading to the possibility of significant delay in the receipt of merger consideration as well as the risk of an inability to consummate the transactions.

Fox has been consistently trying to avoid selling its business to Comcast as Fox officials are of the opinion that a merger with the largest US cable company, Comcast, may not be approved by the federal government.

According to the  SEC filing, Disney’s bid would have a smoother route to closing as the entertainment company has a mix of businesses.

Disney's deal with Fox will include the 20th Century Fox film and TV studios, along with the FX cable channels, Fox's stakes in Hulu, Sky, National Geographic Partners and more. 

Fox plans to spin off all its news assets into “News Fox” which will include all Fox broadcasting network and stations, Fox News Channel, Fox Business Networks and others. 

The good news for Disney comes after the Fox board agreed to Disney’s higher offer of $71.3 billion last week. This was after Comcast made an all cash bid of $65 billion for Fox’s assets. 

Comcast first approached 21st Century Fox about buying the network’s properties in November 2017, which was just a month before Fox had already struck its first deal with Disney. 

Also Read:

What next with Fox-Disney-Comcast ?

Hulu signs deal for Viacom series

Endemol Shine hires banks for a possible sale 

Lachlan Murdoch to lead New Fox after Disney sale, James is out

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