Comcast, Twenty-First Century Fox and Disney are in motion
NEW YORK (AP) — A federal court ruling this week has sent shares of Comcast, Twenty-First Century Fox and Disney into motion, with major media companies potentially on the brink of a bidding war.
Following a Tuesday ruling that cleared the way for AT&T’s $85 billion takeover of Time Warner, almost everyone expects Comcast to make a move for entertainment assets belonging to Twenty-First Century Fox, including the studios behind the “Avatar” movies, “The Simpsons” and “Modern Family.”
If that happens Wednesday, as many anticipate, it could come at a cost for Disney, which has already offered $52.4 billion in stock for those assets.
Shares of Twenty-First Century Fox are jumping 9 percent in premarket trading. Shares of Comcast and Disney moved in the other direction, down 3.5 percent and nearly 2 percent, respectively.