Walt Disney Co. is getting some serious competition in its effort to acquire 21st Century Fox's movie and television assets: Comcast Corp.
Comcast said Wednesday that it is in the advanced stages of preparing an all-cash counteroffer that will top Disney's $52.4-billion stock bid.
"While no final decision has been made, at this point the work to finance the all-cash offer and make the key regulatory filings is well advanced," said the Philadelphia-based company, which controls cable systems, NBCUniversal and Universal Studios.
Ever since Disney announced its plans to acquire all of 21st Century Fox's movie and TV production assets and its entertainment cable channels, Comcast has been lurking in the background as a potential rival.
This reportedly wouldn't be the first time Comcast bids for the Fox assets. Several media outlets said Comcast initially made a higher bid than Disney. But Fox executives rejected that bid, believing that the chances of regulatory approval were better for Disney, which wants to bolster its TV and movie holdings for its direct-to-consumer streaming services.
