Comcast preparing to top Disney's bid for Fox

Posted May 23, 2018 8:11 a.m. EDT

— Comcast says it's getting ready to top Disney's bid for some of 21st Century Fox's assets.

In a statement released Wednesday morning, Comcast says it is preparing to make an all cash bid that will be "a premium to the value of the current all-share offer from Disney."

The cable operator, which owns NBC Universal, said it is working to arrange financing for the deal. It promised Fox shareholders that its offer would have a termination fee that "would be at least as favorable to Fox shareholders as the Disney offer."

Disney reached a deal in December to buy Fox's movie studio and regional sports networks as well as cable channels FX and National Geographic in a deal valued at $52.4 billion.