Comcast has reportedly just made an official $65 billion all-cash offer for 21st Century Fox in an attempt to nab the company and its assets from Disney reports AdWeek.
The offer comes in the wake of Tuesday’s verdict approving the merger of Time Warner and AT&T (or the TWATT deal as it has been nicknamed on social media) for $85 billion despite efforts by the Justice Department to block it.
Comcast’s offer is expected to spark a bidding war between itself and Disney who has offered Fox $52 billion in stock. Comcast is expected to match Disney’s $2.5 billion breakup fee should the deal fall apart due to regulatory issues.
Comcast already controls a major television network (NBC), a motion picture studio (Universal Pictures), several animation studios (Illumination Entertainment, Dreamworks Animation) and a theme park empire (Universal Studios). They also boast the second-largest pay-TV company, largest cable TV company and largest home internet service provider in the United States.
Comcast, Disney and Fox also all own interests in streaming giant Hulu. Potential TV conflicts could be settled by leaving regional FOX stations out of the deal. The big advantage of Disney at this point is that the deal would make the Murdoch’s influential Disney shareholders, and could allow for the potential re-integration of Marvel and Star Wars assets – something that wouldn’t happen with the Comcast deal.