- Analysts are widely seeing the DOJ's appeal of the AT&T (NYSE:T) Time Warner ruling as a problem for Comcast's (NASDAQ:CMCSA) bid for the entertainment assets at Fox (FOX, FOXA) -- regardless of its (probably slim) chances of succeeding.
- “This is a clear gift to Disney (NYSE:DIS),” Craig Moffett said in response. “Fox’s board has been looking for a justifiable reason to choose Disney over Comcast.”
- Comcast had seen the earlier ruling as backup for its position that its takeover of Fox assets wouldn't run into regulatory problems; it issued its $65B Fox bid the day after the ruling (to be later topped by Disney's $71B bid).
- But the overhang provided by the appeal (which AT&T chief Randall Stephenson says could take five or six months to resolve) could push Comcast to focus on Sky (OTCQX:SKYAY) while leaving Disney to take over Fox entertainment (though they can't cooperate on such an arrangement).
- Previously: UK Takeover Panel sets floor price for any Disney Sky bid (Jul. 13 2018)
- Previously: Sky hitting 18-year highs as Jefferies boosts target on bid fight (Jul. 12 2018)
- Previously: Comcast tops Fox with Sky bid of $34B (Jul. 11 2018)
- Now read: 101 Dividend Achievers Yield 2.8% To 9.7% For July
Original article