Comcast Offers $65 Billion for 21st Century Fox, Challenging Disney
“In light of yesterday’s decision within the AT&T/Time Warner case,” Mr. Roberts continued, “we are pleased to present a fresh, all-cash proposal in which fully addresses the board’s stated concerns with our prior proposal.”
The businesses in which Mr. Murdoch has agreed to sell include the 20th Century Fox film as well as TV studios, almost two dozen regional sports networks like the Yankees’ YES channel, a lineup of cable networks in which include FX, as well as a 30 percent ownership stake within the streaming service Hulu.
however the key attractions for Comcast are Fox’s broad international assets. Among them are Fox’s 39 percent stake within the European pay-TV operator Sky as well as its control of Star, one of India’s largest media companies, which reaches 700 million people every month, according to the company.
Mr. Murdoch’s overseas business accounts for 27 percent of annual sales, about $7.8 billion. Comcast, whose cable business is actually strictly a domestic operation, draws in only 9 percent of its revenue through foreign agreements, largely through NBCUniversal.
Comcast has already made an offer to buy the various other 61 percent of Sky in a separate deal. The Fox News cable network, the Fox broadcast stations, the Fox Business Network as well as the sports network FS1 would certainly not be part of a transaction.
A Fox combination could help Comcast amplify its streaming services. Netflix, YouTube, Apple as well as Facebook are spending billions of dollars a year to create original series as well as are competing directly for content as well as sports programming.
Hulu, which has more than 17 million subscribers, would certainly come under Comcast’s control if in which pulls off the acquisition. “We think in which’s a wonderful asset,” NBCUniversal’s chief executive, Stephen Burke, said Wednesday on a conference call with analysts. “in which’s an important part of in which deal, as well as we’d be very interested in growing in which business within the future.”