Fans rejoiced when they thought the X-Men, Deadpool, Fantastic Four, and other FOX owned properties would soon be under the same roof as Iron Man, Captain America, and Thanos.  The idea that all there could be new team-ups or even good versions of some of those properties is now in jeopardy.

The rival suitor for the FOX properties is Comcast.

Disney had already brokered a deal for an all-stock offering for the FOX properties that the rights were secured for back in the 1990s.

Comcast upped the ante by offering an all-cash offer:

“Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney. The structure and terms of any offer by Comcast, including with respect to both the spin-off of ‘New Fox’ and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer. 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.”

Disney and FOX shareholders are scheduled to meet this summer and vote on whether to approve Disney’s acquisition.  The $52.4 billion offer by Disney will be hard to turn down.  Disney’s future appears bright enough that the stock might continue to grow in value after a merger.  Yet, cash in hand is hard to ignore.

This move by Comcast could also allow them to enter negotiations with Disney to parse the FOX owned Marvel characters out. They might claim part of the proceeds from the very lucrative MCU by working with Disney in the future.

Previous negotiations with Comcast stalled due to anti-trust concerns, but the upcoming AT&T and Time Warner potential merger could clear the way for a Comcast/FOX deal.

Who would you guys rather have the rights to the FOX properties?  Let us know in the comments below.

UPDATE: With a District Court Judge giving the go ahead for the AT&T and Time Warner merger (which we covered here), Comcast has made their bid official.  The $65 billion offer on Wednesday is 19% higher in value than the Disney offer. It was believed that Comcast had lined up $60 billion in cash to counter Disney’s offer of stock and cash.  This higher bid than expected shows that Comcast is serious.

GBH insights analyst Dan Ives said, “”This is a golden offer that will put considerable pressure on Iger and Disney to step up their game on another bid.  This is even higher than the Street thought, which speaks to Comcast really wanting these key assets.”

After Disney aquired Lucasfilm and the Marvel properties not owned by FOX, it was assumed the best outcome would be for Disney to get the FOX Marvel properties in house.  With Comcast showing their strong desire to add to their content library via a FOX merger, things don’t look so good for Disney.

Category: Film

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