(Reuters) – Comcast Corp Agrees with Investment Banks to Acquire Bridging Finance for an All-Cash Offer to Oust Walt Disney Co on its $ 52-billion Deal to Acquire Most of Twenty-First Century Fox's Assets Inc, with whom three are familiar The thing said on Monday.
The move is the first concrete move Comcast has made to turn Disney's deal with Fox on its head. Comcast has already made an offer of £ 22 billion ($ 30 billion) to acquire the 61 percent stake in European pay-TV group Sky Plc, which Fox does not yet own.
Comcast calls on investment banks to raise $ 60 billion in bridging finance they have already arranged for the Sky offering to finance Fox's bid.
Comcast is waiting for a US judge to review the US Department of Justice's request for US & Telecom provider AT & T Inc.'s planned acquisition of Time Warner Inc next month before submitting an offer to Fox.
Fox has rejected a Comcast offer last year, largely due to antitrust concerns, and Comcast plans to make a new bid only if AT & T and Time Warner prevail in court.
The sources have asked not to be identified because the matter is confidential. Comcast, Fox and Disney did not immediately respond to requests for comment.
Reporting by Greg Roumeliotis and Liana B. Baker in New York; Additional coverage by Jessica Toonkel in New York; Arrangement by Lisa Shumaker