While it sounds like Comcast could be throwing a wrench in the Walt Disney Company‘s plans to acquire the entertainment assets of 21st Century Fox, Disney CEO Bob Iger isn’t worried.
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Iger spoke with CNBC ahead of the Disney’s Quarter 2 earnings call for 2018, when he said he’s confident that the company will close the deal for 20th Century Fox and many other properties.
“I’m not going to speculate at all about what [Comast is] doing or why they’re doing it. I can only say, reiterate that we made a deal in December that received unanimous approval, which is important, by the 21st Century Fox board,” said Iger. “We’re in the process of filing what we need to file to gain both regulatory approval and shareholder approval. We’re certainly excited about that acquisition and remain confident that it’s going to go forward.”
Iger’s response comes after the outlet broke news that Comcast would offer an all-cash bid to top Disney’s offer for 21st Century Fox assets on the condition that the United States government would approve AT&T’s acquisition of Time-Warner. That deal is still being looked at by the Justice Department.
Disney is offering $52 million in stock options, which is different from Comcast’s potential bid for an all-cash offer. Of course, there are merits to both options, as the cash has more immediate and definitive value. Disney, on the other hand, is the largest and most successful multimedia company in the world, and the potential of their stock’s value to increase will likely be bolstered with the acquisition of Fox assets and intellectual property.
Many movie goers and fans across geek spaces are cheering on Disney’s acquisition of Fox because of the potential of comic properties like the X-Men and the Fantastic Four joining the Marvel Cinematic Universe, despite the downsides of what an acquisition of this magnitude could mean for degrading services and job losses.
When asked if Disney would increase their bid in response to the Comcast news, Iger was hesitant to offer an answer, saying he wouldn’t speculate over the future. Instead he reiterated that shareholders and the Fox board alike were excited about the deal.
This saga seems far from over, and fans should not get used to the idea of the X-Men teaming up with the Avengers on the big screen so soon.
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