Comcast Corporation (NASDAQ:CMCSA) is reaching out to a number of investment banks to obtain the finances it needs to kick Walt Disney Co (NYSE:DIS)out of the equation over a $52 billion deal targeted towards the acquisition of a significant chunk of the assets of Twenty-First Century Fox Inc (NASDAQ:FOXA). It was on Monday that three person well conversant with the matter disclosed this information.
Brian Roberts, the current Chief Executive of Comcast while moving out of a business conference that was held recently came across journalists who insisted that he discloses more regarding the deal.
What it takes for the deal to be struck
The top official said that the only way he was going to proceed with the deal was only if the federal judge allowed the $85 billion acquisition deal to proceed. It was a deal where AT&T Inc wanted to proceed with its plan to purchase Time Warner Inc.
The U.S. Department of Justice has cited antitrust concerns in its opposition of the AT&T-Time Warner deal. All isn’t lost yet a major decision is expected soon, most probably in June from the U.S. District Court Judge Richard Leon.
Bob Iger , the Chief Executive of Disney sometime back clinched an all-stock deal with Rupert Murdoch who is the Executive Chairman of Twenty-First Century Fox Inc (NASDAQ:FOX) over the acquisition of film, television and international businesses belonging to the business guru.
Amazon.com, Inc (NASDAQ:AMZN) and Netflix, Inc (NASDAQ:NFLX) have in the recent years been posing substantial competition to the world’s largest entertainment company. However, now that it is expecting an arsenal of movies and shows to stage a force to reckon with in the competitive market there is nothing to fear.
Comcast just like the rest of the businesses around the globe wants to scale higher which it hopes to achieve by taking several moves. It has been doing a lot all the way from employing the right strategies to improving its internal operations.
The move by the company to name Elianna Carlton its Regional Vice President of Human Resources was applauded by several market analysts who bestowed great trust in the competence of the top official as well as in her track record.