21st Century Fox subject of Comcast acquisition bid - report

Competition for the acquisition of 21st Century Fox is heating up after reports on Thursday suggested media giant Comcast has approached Rupert Murdoch’s company about a merger.

Disney is also among the companies which have reportedly held discussions over a possible purchase of certain Fox operations.

CNBC reported that Comcast, which is the largest broadband provider in the US, is engaging in talks with Fox but there is no prospect of a deal being agreed soon.

Fox is currently the subject of an investigation from the Competition Markets Authority in the UK over its bid to acquire the remainder of broadcaster Sky.

Any bid from Comcast to acquire Fox would face scrutiny from competition regulators in the US, with the former owning a wide variety of media organisations including the NBC network and Universal Studios.

Sources suggest that Fox owner Murdoch and other senior executives are leaning towards streamlining the company’s efforts towards focusing on news and sports, while offloading its entertainment operations.