>> Comcast on Wednesday for the first time confirmed it was readying a higher all-cash offer for a huge chunk of 21st Century Fox, a move designed to disrupt a multibillion dollar deal Fox already had with Disney. Disney had offered about $50 billion worth of stock for Fox's film and TV properties, but Comcast appears determined to offer something better.
Reuters correspondent, Liana Baker.>> Comcast by going public with its plans is trying to put pressure on Fox and its shareholders to not rush into the Disney deal they've already struck, which was waiting for approval.>> So Comcast is sort of saying, wait a second, we have a deal that will be coming.
>> Reuters reported earlier this month that Comcast was preparing financing for a cash offer. Both Comcast and Disney are eager to grab Fox's content.>> This is a play for media giants to get even larger. This will really ramp up the amount of content that either Disney or Comcast will own.
It's definitely a defensive move against newer tech players, like Netflix and Amazon, that are also going heavy into content.>> But the Comcast offer still faces a significant hurdle. The company says it will only proceed if another media mega merger, AT&T's bid for Time Warner, which was challenged by the Justice Department, gets a green light from a federal judge.