Comcast Corp. has reportedly approached 21st Century Fox Inc. to express an interest in acquiring what The Wall Street Journal says is a “substantial piece” of the company. (The Journal story is behind a paywall.) The report cites sources who are familiar with the situation.
Comcast is said to be interested in key assets including the company’s movie and TV studio along with selected cable networks.
Verizon is also said to be considering a purchase of Fox assets, although a source noted that the exploration is in the early stages. Other suitors are also believed to be circling key Fox assets.
Variety notes that the overture by Comcast “comes a week after the media world was jolted by reports that Disney held preliminary talks with Fox about acquiring the same collection of assets in recent weeks. Those talks were said to have broken down quickly over price, but the fact that the Murdochs would entertain such an offer at all had the effect of turning Fox into an acquisition target.”
Fox shares were up more than 8% today in after-hours trading following reports of the Comcast move, Variety notes.