Comcast: A Way Out [Seeking Alpha]
Fox Corporation - Class B (FOX)
Last fox corporation - class b earnings: 5/10 04:03 pm
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US:NASDAQ Investor Relations:
21cf.com/investor-relations
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Source: Seeking Alpha
Summary My previous research concluded that Comcast ( CMCSA ) shouldn't really want to win the Twenty-First Century Fox ( FOX , FOXA ) media assets in a bidding war with Disney ( DIS ). The stock hit multi-year lows on the original bid for the assets, but a higher bid from Disney and regulatory moves provide a way out for the misguided bid. Image Source: Comcast website Damaging Bidding War In not a huge surprise, Disney upped the bid for the 21CF media assets under the original agreement to $38 per share. The new bid is an incredible 36% increase over the original offer of $28. Comcast offered $35 in all cash last week and Jefferies suggests the cable operator is expected to up the bid to around $41. The $6 per share bid increase amounts to an additional $11 billion in cash that would build on the already high debt levels. The previous estimate was that debt would reach $125 billion and this potential new offer would push the net deb
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