Comcast Fox

We thought the Disney/Fox deal was done at the end of last year, but Comcast wasn’t ready to go quietly into the night. It stormed back into the fray with one final charge, topping Disney’s initial offer for 21st Century Fox’s media assets in the hopes of adding them to its own empire, which already includes companies like NBC and Universal. But now the boardroom battle is over, and as the metaphorical smoke clears, Comcast is walking away and paving the way for a Disney acquisition. The idea of a Comcast Fox deal is officially dead.
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Comcast Fox deal

Update 6/20/2018: Bloomberg reports that Fox has accepted a $71.3 billion bid from Disney, which tops Comcast’s previous offer of $65 billion. Disney’s new offer “gives Fox shareholders the option to take their payment in the form of cash or stock, up to a 50-50 level”, and the company will also “take on about $13.8 billion of Fox’s net debt”, which brings the total value of the deal to north of $85 billion.

Update 6/19/2018: According to CNBC, Fox’s board meets tomorrow to discuss Comcast’s bid, and if Fox decides they prefer Comcast’s offer to Disney’s offer, Disney has five days to match. The Mouse House “is expected to add cash to its bid” in addition to the stock-based offer it currently has in place. Our original article follows.

Things just got slightly more complicated in the ongoing saga of 21st Century Fox. Many of the company’s assets were long thought to be acquired by Disney, but as promised, Comcast has now officially swooped in with a superior offer to acquire Fox’s film studio, most of its TV channels, and more. And it looks like they’re coming out swinging: a Comcast Fox deal would mean that Comcast would buy the Fox assets for a hefty $65 billion, far surpassing Disney’s offer of $52 billion.
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Disney‘s historic deal to acquire elements of Fox seemed set in stone, but earlier this year reports surfaced that Comcast planned to derail that deal with a massive offer of its own. Now Comcast Corp. has confirmed that it is preparing a “superior” all-cash bid for large parts of 21st Century Fox to top Disney’s $52.4 billion deal. But to tip the scales in favor of Comcast, the Comcast Fox deal would be an “all-cash” deal versus Disney’s all-stock offering.

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disney fox deal

First they make you wait on hold for hours when you call about your cable service, then they try to destroy the Disney/Fox deal. What will those fiends at Comcast do next? A new report reveals Comcast is preparing to offer an all-cash bid for Fox, which would likely muddy the waters of the huge Disney-Fox deal. Ruh-roh.

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Disney Fox deal

The huge Disney Fox deal may have just grown more complicated. Comcast has topped Fox’s bid to buy British satellite broadcaster Sky, which could result in Fox paying more for Sky, or Disney losing a valuable property to Comcast.

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Netflix Logo

Netflix Chief Content Officer Ted Sarandos raised some eyebrows this weekend when he claimed that movie theater owners are the ones threatening to kill the movie business. Their refusal to innovate with day and date releases for big movies in theaters and on digital is stifling the industry. But his company is totally helping, right? The DVD business, which has been a massive part of the movie business for the past ten-plus years, is super-healthy, thanks to Netflix, right? And streaming revenues have more than made up the difference, too! Oh, wait. The business isn’t healthy and streaming hasn’t filled the void.

Complete video of his talk is after the break. Also, we’ve got the following items:

  • A third season of House of Cards is on the way.
  • Netflix gets Dexter.
  • Comcast will offer HBO to non-cable subscribers.

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It’s pilot casting season! And as such, Rupert Grint, JK Simmons, Dylan McDermott, Billy Campbell, Jennifer Beals, and tons more have found new homes on the small screen. Also after the jump:

  • Peter Sarsgaard has joined AMC’s The Killing
  • Dexter Season 8 adds a Walking Dead alum
  • Ridley Scott is bringing The Terror to AMC
  • The About a Boy duo will tackle Neal Stephenson
  • FX is moving ahead with Diane Kruger‘s The Bridge
  • Up All Night will shoot just one multi-cam episode
  • ABC shifts Happy Endings to the Friday death slot
  • House of Cards is Netflix’s most-watched program
  • Comcast buys the other 49% of NBCUniversal
  • The first episode of The CW’s Cult hits the web
  • Jason Blum‘s Paranormal-esque reality show gets a trailer

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comcast-xfinity-tv

Several months ago, Comcast announced their “TV Everywhere” program, which would allow subscribers to view their television programming on the web via Comcast.net, or Fancast.com. Comcast has been testing the service in a few markets since then, and today they’ve announced that it’s going nationwide. It’s also now called “xfinity TV”, because I guess TV Everywhere just made too much sense.

While the name is pretty Comcastic (and not in a good way), the service seems like a fantastic deal for Comcast customers. Xfinity TV (uhg) will offer subscribers 27 channels, including cable darlings like HBO and Cinemax. Currently, you have to subscribe to both Comcast TV and broadband to use the service, but they say that eventually any Comcast subscriber will get access (but most likely not to premium content like HBO).

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Comcast Buys NBC Universal

comcast_nbcu

For weeks, there have been big rumblings about a potential buyout of NBC Universal by the cable company you love to hate: Comcast. A deal was consummated today, though it remains pending regulatory approval.

The deal is ridiculously convoluted. Appropriately, perhaps, it’s the sort of thing you’d expect to hear Jack Donaghy and Devon Banks arguing out on 30 Rock. The basics are as follows: NBC Universal is currently owned by  General Electric and Vivendi in an 80/20 split. NBCU will borrow $9.1b with which GE can buy out Vivendi, and Comcast will enter with a $6.5b cash offer and $7.25b worth of programming assets. The breakdown after the deal will be that Comcast owns 51% of the conglomerate while GE holds 49%.

The resulting business, which may operate under the name Comcast Entertainment Group, will be a massive entertainment conglomerate. Congress is already planning hearings to determine whether the deal will give Comcast “undue advantages” based on new access to NBC Universal programming.

So what does this mean to you? Outside of a theoretical change in film release windows — i.e. the length of time between when a film bows in theatres and appears On Demand and on DVD — probably not much. Read More »

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