Comcast, Disney May Want to Work Out Fox Assets Split, Kagan Says
A hostile Comcast takeover bid for Fox would put Fox's management "in a pickle," since the Murdoch family is said to be in favor of Disney's offer because taxes would be lower, but rejecting the much higher Comcast bid could…
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result in shareholder lawsuits, Kagan's Derek Baine wrote in a blast email. The analyst said many Fox investors don't like the dual voting structure that gives the Murdoch family and its super-voting stock 40 percent of the shares while owning less than 20 percent of the equity. He said there could be a bidding war with Disney, since it's betting heavily on Fox-related content for its over-the-top services (see 1805090002). To avoid that, Comcast and Disney might want to negotiate an agreement to split the assets, with Comcast getting Star TV and Sky, Baine wrote. Comcast reportedly is mulling a cash offer for Fox (see 1805080004).