Comcast Corp., the U.S. cable operator has requested the investment banks to hike the facility of bridge financing by $60 billion. This measure was requested in order to propose all cash to the 21st Century Fox Inc. This is speculated to dominate the proposal of $52 billion by Walt Disney Co.
Last year December, Walt Disney agreed to close the all-stock deal of 21st Century Fox at $52.4 billion.
Amongst the speculations of the Disney and Comcast deal, the approval from the regulators are yet to arrive, which will lead to the finalization of the same.
When asked, Comcast initially didn’t respond to the present scenario of the deal while the 21st Century Fox clearly denied commenting.
The stocks of Comcast have dropped a few units, from $38 to $32, after the deal was publicized. This also allowed the company the capitalization of the market of $149 billion.
With the advent of the latest amenities and rapid evolution of technologies, the conventional film and television giants are encountering tough challenges. This is compelling them to sell the shares while the tech giants are looking forward to buying the companies. Even the companies like Netflix and Amazon have a huge amount secluded for the media production.
Some of the examples of the current scenario, where the tech giants are up to taking over the other companies, are:
AT&T is looking forward to buying the Time Warner, TV programmer. The company is not faltering the endeavors in spite of the objection raised by the government.
In February, Comcast offered to buy the 61% shares of the Sky TV, which amounted to $30 billion. Sky TV is one of the most prominent television companies in the UK. This offer will hamper the continuous endeavor bestowed by 21st Century Fox, led by Rupert Murdoch to take over Sky TV.