If you are one of the many hoping Disney gets its hands on 21st Century Fox, then you need to school your excitement. A new report indicates that Comcast’s choice to outbid Disney with an all-cash offer has put the entire deal in serious jeopardy.
According to The Hollywood Reporter, analysts at Wall Street say there’s a real reason to worry about the Disney-Fox acquisition. Richard Greenfield of BTIG says that Rupert Murdoch, the man in charge of Fox, is a businessman through and through. He wants to do the best business with the highest bidder, leaving Murdoch to negotiate with Comcast’s $60 billion bid.
Last month, fans learned that Comcast wasn’t ready to give up on its Fox desires. The company confirmed it was preparing a superior bid to the one Disney made. As it stands, Disney has agreed to purchase Fox for $52.4 billion, giving the media conglomerate all of Fox’s film and TV studio IPs. The deal would also rollover Fox’s interest in the Sky network as well as a few TV stations.
Of course, many fans felt the Comcast deal would be looked over in favor of Disney’s clout, but that may not be the case. Greenfield is warning fans that Murdoch just wants the most money for the assets Fox is about to part with.
"Rupert, like his shareholders, are now fully aligned and simply want the best possible outcome, meaning the most dollars, whether that's cash or cash and stock." Greenfield told the digital news service Cheddar. "Rupert Murdoch is not set on selling to Disney. This is a real opening for Comcast to come in with a very significant premium bid to where Disney is now."
With Comcast said to be offering about $60 billion for Fox, it is up to Disney to make a decision. The company could either walk from the deal or make an even better offer. Last month, CNBC said Disney is looking to offer a “significant cash” deal to one-up Comcast if need be. With so many assets at Fox at stake like the X-Men and Fantastic Four, Disney seems determined to get its hooks on a bid Murdoch just cannot refuse. Speaking with Variety, one analyst Michael Nathanson said there's no way Disney will readily walk away from the opportunity in front of them.
"I don't think there's a break point for these guys to walk away," the analyst said. So, the ball is in Disney's court as of right now.
Do you think a bidding war is about to break out? Let me know in the comments or hit me up on Twitter @MeganPetersCB to talk all things comics, k-pop, and anime!