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Twenty-First Century Fox, Inc. (FOXA) Stock Rating Lowered by Zacks Investment Research

18 November, 2017, 01:54 | Author: Melinda Barton
  • 21st Century Fox Ross Stores GAP Applied Materials- AFTER HOURS

CNBC's sources added that Comcast is also interested in the company's worldwide businesses, like the European pay TV provider Sky, likely to broaden its footprint outside of the U.S.

This all comes on a backdrop of notable merger talks in the U.S., with AT&T now in talks with regulators over its bid to buy Time Warner.

Following the news that Disney had held talks regarding the potential acquisition of 21st Century Fox's major television and movie production assets, reports have emerged that United States media giant Comcast has approached Murdoch-family controlled Fox about a possible deal to obtain more shows to compete against disruptive online streaming giants such as Netflix and Amazon.

The persuasion for some of Fox's most eminent holdings also advances as the AT&T-Time Warner coalition suspends in the balance with the Justice Department anticipated to capture steps that would impact AT&T to excessively change the deal or then block it which would put Time Warner back in play. Other suitors are also believed to be circling key Fox assets.

In August 2016, Comcast completed a $3.8-billion acquisition of DreamWorks Animation, Jeffrey Katzenberg's boutique studio that created hits such as "Kung Fu Panda" and "Shrek".

Comcast is most interested in Fox's stake in satellite TV broadcaster Sky and Star India, say some reports. NBC already has two cable news channels, CNBC and MSNBC.


While no media company can own two broadcast networks, neither of these two conglomerates are interested in buying up all of Fox, said CNBC's sources.

Zacks Investment Research cut shares of Twenty-First Century Fox, Inc. The growth of the latter, along with other technology-content companies such as Netflix and Apple has encouraged traditional media businesses to look at what can be achieved at scale.

Last week, unconfirmed reports said Fox rival Disney held similar talks without any agreement on asset sales. Of the assets that are on the block, about 70 percent of the revenue comes from worldwide businesses.

A Comcast-Fox deal would have the same regulatory issues that Disney would have in acquiring the Fox assets, the sources said.

Those assets include Fox's movie studio and television production divisions, and its cable networks FX and National Geographic. Comcast also operates sports networks, including regional sports channels in Philadelphia, Chicago and San Francisco.

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