May 23, 2018

Comcast preparing all-cash bid for Fox to beat Disney

Photo: Andrew Harrer/Bloomberg via Getty Images

Comcast confirmed Wednesday morning its preparing an all-cash offer for 21st Century Fox's entertainment assets, properties Fox has already agreed to sell to Walt Disney Company. Comcast says their offer is higher.

Why it matters: Fox initially rejected a higher bid from Comcast, fearing regulatory hurdles with a vertical merger, according to SEC filings. But if AT&T's merger with Time Warner is allowed, Fox may have incentive to take Comcast's higher bid, leaving Disney in the dust.

Comcast says that 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."

It wouldn't be shocking if Fox ditched Mickey Mouse for the telecom giant, although CNBC reported Tuesday that Fox is closing in on a shareholder vote over Disney's $52 billion bid for Fox's media assets.

  • While Fox executives have made it clear that Disney is its preferred merger partner, the company will need money to pilot its new separate sports and news network, and Comcast's bid is reportedly higher than Disney's.

Between the lines: A reported rivalry between Comcast CEO Brian Roberts and Disney CEO Bob Iger could also be playing into bidding wars.

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Updated 6 mins ago - Politics & Policy

U.S. enters 6th day of nationwide protests over George Floyd's killing

A protest in Philadelphia on May 31. Photo: Mark Makela/Getty Images

Local news footage captured a tanker truck appearing to drive toward protesters at a peaceful demonstration in Minneapolis, forcing demonstrators to quickly get out of the way of the incoming vehicle on Sunday evening.

The big picture: Protests have continued across the country for six days, as demonstrators call for justice in response to the deaths of George Floyd and other other black Americans who have died in police custody or who have been killed in racist attacks.

Updated 18 mins ago - Politics & Policy

Tanker truck appears to plow into Minneapolis protesters

Authorities closed major roads at 5 p.m. in Minneapolis for the march. Photo: Chandan Khanna/AFP via Getty Images

A tanker truck appears to have driven toward thousands of protesters Sunday evening during a demonstration in Minneapolis, who managed to avoid the vehicle, video from the scene shows.

What they're saying: Minnesota Department of Public Safety tweeted, "Very disturbing actions by a truck driver on I-35W, inciting a crowd of peaceful demonstrators. The truck driver was injured & taken to a hospital with non-life threatening injuries. He is under arrest. It doesn’t appear any protesters were hit by the truck."

Inside Trump's antifa tweet

President Trump at Cape Canaveral on May 30. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

As recently as Saturday night, senior administration officials told me that the designation of a violent cohort of far-left activists, antifa, as a terrorist organization was not being seriously discussed at the White House. But that was Saturday.

Behind the scenes: The situation changed dramatically a few hours later, after prominent conservative allies of the president, such as his friend media commentator Dan Bongino, publicly urged a tough response against people associated with antifa (short for "anti-fascist").