Since Fox agreed to the deal of $52.4 billion in stock from Disney, Comcast has been contemplating a counter-offer and now those fears have been realized this morning. Comcast has confirmed that they will make a counter-offer for the Fox assets and that their offer is in the “advance stages” but some estimated it to be in the range of $60 billion in cash. It was Disney and Fox filing SEC documents for special shareholder meetings that triggered this announcement. These documents are needed when Disney and Fox shareholders are to vote on Disney’s proposed deal of $52.4 billion for Fox assets and Comcast may see this as their last opportunity to sway Fox shareholders, which is a strong possibility as some stockholders have expressed preference for cash over stock.
The Fox assets that are on the table is everything except for Fox News, broadcast network, and their local TV stations. Everything else? Well, you name it, their films, TV shows and studios, cable networks like National Geographic, regional college sports, FX, and much more. But, yes, this would obviously include the X-Men and Fantastic Four, the last big remaining Marvel characters out of reach.
Not to burst bubbles, but if Comcast does succeed in buying these Fox assets, the X-Men and Fantastic Four will not return to their original owners since 21st Century Fox is not dissolving, but is being bought while it’s still breathing. Not to mention that we have no idea what the exact details of the contracts were when Marvel Entertainment sold off the movie rights.
We can only hope that more Fox shareholders prefer stock over cash and the deal is finally finished by Summer of next year.