21st Century Fox set a July 10 date for a shareholder vote on the $52.4 billion Disney deal while at the same time acknowledging Comcast’s interest in a potential counteroffer.
Fox’s board of directors is currently recommending that stockholders vote in favor of the Disney merger. But Fox did mention it's “aware” of Comcast’s advanced plans to make Fox an offer for the businesses it intends to sell to Disney.
“Under the Disney Merger Agreement, if any event occurs that 21CF determines, after consultation with outside legal counsel, is reasonably likely to require under applicable law the filing or mailing of any supplemental or amended disclosure, 21CF may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting,” Fox said in a statement.
RELATED: Comcast confirms it’s in ‘advanced stages’ of prepping ‘New Fox’ bid
In December 2017, Disney announced an all-stock deal for certain parts of Fox. The deal includes Disney assuming $13.7 billion of 21st Century Fox's net debt, lifting the total transaction cost to approximately $66 billion.
Disney is buying Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, and television creative units Twentieth Century Fox Television, FX Productions and Fox 21. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.
Comcast, in pursuit of the same assets, said it is willing to make an all-cash offer at a premium to the $52.4 billion Disney bid.