The chairman of 21st Century Fox, Lachlan Murdoch, said the media company planned to press ahead with plans to merge with Disney and take full control of Sky on Wednesday but said the company was considering its options as cable giant Comcast prepares a higher bid.
Last December Fox agreed to sell most of its cable and studio assets to the Walt Disney Company. It is also looking to acquire the shares of Sky it doesn’t already own.
But those plans now face a challenge from Comcast, which is reportedly preparing a $60bn all-cash offer for the Fox properties and launched a separate bid for Sky last month.
On a call with analysts Murdoch said he would not comment on “market speculation”.
Murdoch said he expected to receive regulatory approval for the Sky deal “in a month or two”.
“Comcast has just begun its regulatory process and we believe it is very reasonable for Comcast to receive a robust regulatory review, which could take month,” he said.
But given Comcast’s bid, Murdoch said the company was considering its options with “a further announcement to be made in due course”.
For more read the full of article at The Guardian
