Comcast talking to Fox about a deal, source says

Century Fox Studios flag flies over the company building in Los Angeles California
Century Fox Studios flag flies over the company building in Los Angeles California
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20 November, 2017

The NBCUniversal parent is also eyeing Fox's movie studio, cable networks and its regional sports network.

Disney was in talks to buy Fox's movie and TV production studios, cable networks FX and National Geographic and global assets such as the Star network in India and European pay TV provider Sky Plc, CNBC reported last week.

"(I am) skeptical of a Verizon deal, creative businesses are very tough to manage for an outsider", Logsdon said.

Twenty-First Century Fox Inc shares were up 3 percent in trading on Friday after sources said both Comcast Corp and Verizon Communications Inc were interested in buying parts of its studio and TV operations. Shares of Viacom Inc and CBS Corp also rose more than 2 percent, a sign investors may see then as potential targets.

"Either Disney or Comcast would be a good fit, but its always about price and neither has to be a strategic buyer, only opportunistic", said JBL Advisors analyst Jeffrey Logsdon.

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The Wall Street Journal and CNBC earlier reported on Comcast's interest in Fox. The hive of activity around Fox is fueling a new round of M&A speculation for other media assets, including Viacom's Paramount Pictures and its cable networks.

The source told AFP that approaches were made to Fox by Comcast, which controls the NBC Universal media group along with its large cable operations, and Verizon, a major telecom and cable operator that also owns the internet brands AOL and Yahoo.

USA cable and telecom companies have been buying up media assets and launching advertising businesses in the past several years.

It is unclear whether Fox's broadcast assets are part of any of the conversations.

Last year, AT&T agreed to buy Time Warner, the owner of the Warner Bros. movie studio and networks including CNN and HBO, for $85 billion. The $15 billion deal set last December has been held up in a United Kingdom regulatory review for months. The company has previously focused on building its business, and even offered to buy Time Warner in 2014.


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