Comcast Stock Surges As DIS Moves Closer to Acquiring Fox Assets

Disney-Fox deal would be a media and entertainment earthquake

If the deal goes through successfully, Disney expects to take nearly one year to work on the regulatory approvals considering that the firm buying another firm is legally prohibited from running the pending acquisition, even when the speculation is already out.

A report at CNBC suggests that Comcast dropped out of the bidding for Fox's film assets at the start of the week, leaving the path clear for Disney. This could be to allow Disney to avoid negative tax implications from the deal.

"We never got the level of engagement needed to make a definitive offer", Comcast said in a statement.

Comcast's move presents Disney with the option to go ahead and complete a deal with Rupert Murdoch's media empire. Walt Disney, Co. and 21st Century Fox have resumed discussions involving Disney acquiring Fox's movie studio, 20th Century Fox, FX, FXX, and other assets according to the Wall Street Journal.

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It would see Disney add 20th Century Fox, home to the Avatar and X-Men film franchises, to its own studio, as well as global pay-television brands from Sky in the United Kingdom to Star in India, regional U.S. sports networks and Fox's stake in the Hulu digital streaming service. This move would up Disney's ownership in the company to 60% and could help the entrainment power as it pursues its own stand-alone streaming services in 2018. Today, you can download 7 Best Stocks for the Next 30 Days.

Fox's remaining assets, including the Fox broadcast network and Fox News Channel will be spun off into a new company worth about $10 per share, said one person briefed about the transaction terms.

Twenty-First Century Fox, Inc.

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