Cable giant Comcast said it is in advanced stages of preparing a higher, all-cash offer for the assets of 21st Century Fox that Walt Disney has agreed to buy, an effort it made public Wednesday to convince Fox shareholders of its seriousness.
Earlier this month, The Wall Street Journal and others reported that Comcast was considering making a play to break up that $52.4 billion all-stock Disney deal and had lined up around $60 billion in financing for an all-cash offer.
Separately, activist investor and Fox shareholder Chris Hohn said he would back a Comcast bid over the current deal with Disney, the investor told Rupert Murdoch in a private letter urging the media mogul to engage with Comcast on a deal.
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