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Takeover interest in Fox

Friday, November 17, 2017 - 01:11

Comcast and Verizon are interested in buying parts of Twenty-First Century Fox, say sources. Fred Katayama reports.

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Rivals are on the prowl for Fox. Sources say Comcast and Verizon are interested in buying parts of Twenty-First Century Fox. They foresee a battle looming over its studio and TV operations. They say there's interest in Fox's studios, cable networks, and international assets. Fox shares spurted higher on the news while Comcast and Verizon fell. Reuters correspondent Liana Baker is covering the story. SOUNDBITE: LIANA BAKER, CORRESPONDENT, REUTERS (ENGLISH) SAYING: "It's very early days. We know that Comcast has definitely approached Fox about their interest. Verizon I think is a bit more in the early stages of exploring interest. But what's for sure is that Fox is in selling mode and that Murdoch has sort of put a for-sale sign on everything they own." Buying Fox would give cable giant Comcast international distribution outlets so it can better take on rival Disney. Earlier, Disney had reportedly expressed interest in buying out much of Rupert Murdoch's Fox empire. For wirelss carrier Verizon, buying a movie studio and TV channels would be a departure from its core business. What may have sparked its interest is archrival AT&T's bid for CNN owner Time Warner. That merger awaits regulatory approval.

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Takeover interest in Fox

Friday, November 17, 2017 - 01:11