Jul 9, 2018

Report: Comcast lining up buyers for Fox's regional sports networks

Comcast CEO Brian Roberts. Photo by Drew Angerer/Getty Images.

Comcast is lining up buyers for 21st Century Fox's regional sports networks (RSNs) in order to ease Fox shareholders' concerns about whether the telecom giant would get the necessary regulatory approval to acquire Fox's entertainment assets, Reuters reports.

Why it matters: It's likely that Comcast is looking to increase its $65 billion bid for Fox's properties to beat Disney's $71 billion counter-offer. Disney has already struck a deal with the Justice Department to divest Fox's RSNs, which earned approval a few weeks ago. 

The bigger picture: The Wall Street Journal reported last month that Comcast is talking to other companies or private-equity investors that could provide additional cash for Comcast to increase its bid for the Fox properties.

  • Sources tell Axios to expect a new bid from Comcast in the mid-$40 per share range in the coming weeks.
  • The sale of RSNs could also free up cash flow for Comcast, which would be taking on significant debt to finance the acquisition.

Fox originally turned down a merger offer from Comcast last year due to regulatory concerns. While Fox executives have perviously vocalized support for a Disney merger, some shareholders have urged Fox leadership to consider a possible higher bid from Comcast.

Go deeper: Why Fox is a must-win for Comcast.

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Zuckerberg says Trump’s “shooting” tweet didn’t violate Facebook’s rules

Mark Zuckerberg at the 56th Munich Security Conference in Munich, Germany on February 15. Photo: Abdulhamid Hosbas/Anadolu Agency via Getty Images

Facebook did not remove President Trump's threat to send the National Guard to Minneapolis because the company's policy on inciting violence allows discussion on state use of force, CEO Mark Zuckerberg explained in a post on Friday.

The big picture: Zuckerberg's statement comes on the heels of leaked internal criticism from Facebook employees over how the company handled Trump's posts about the Minneapolis protests and his unsubstantiated claims on mail-in ballots — both of which Twitter has now taken action on.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 5,916,464— Total deaths: 364,357 — Total recoveries — 2,468,634Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 1,744,258 — Total deaths: 102,709 — Total recoveries: 406,446 — Total tested: 16,099,515Map.
  3. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  4. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  5. Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
  6. 1 sports thing: NCAA outlines plan to get athletes back to campus.

Trump says he spoke with George Floyd's family

President Trump in the Rose Garden on May 29. Photo: Win McNamee/Getty Images

President Trump told reporters on Friday that he had spoken with the family of George Floyd, a black resident of Minneapolis who died after a police officer knelt on his neck on Monday.

Driving the news: Former Vice President Joe Biden said via livestream a few hours earlier that he, too, had spoken with Floyd's family. The presumptive Democratic presidential nominee implored white Americans to consider systemic injustices against African Americans more broadly, Axios' Alexi McCammond reports.