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.
“If Fox is willing to engage Comcast and entertain a higher cash bid, it puts Disney in a difficult situation,” Greenfield wrote.
The cable company’s entry into the deal is likely to spark a bidding war for Fox as Comcast tries to press shareholders to accept its higher offer.
In a note to clients, BTIG analyst Richard Greenfield argued that Comcast would face fewer issues than Disney in getting a Fox deal approved.