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Report: Comcast may pursue Fox if AT&T/Time Warner deal approved

Comcast Corp. could mull plans to top Walt Disney Co.'s bid for 21st Century Fox Inc. assets if the AT&T Inc.-Time Warner Inc. deal is approved, CNBC.com reported Feb. 5, citing sources with knowledge of the matter.

While a decision is yet to be made, Disney is reportedly preparing for such a scenario, sources said.

In December 2017, Disney reached a deal to buy an array of Fox's international and domestic assets. Under the terms of the agreement, shareholders of Fox will receive 0.2745 Disney share for each Fox share they hold. The exchange ratio was set based on a 30-day volume weighted average price of Disney stock. Disney will also assume about $13.7 billion of net debt of Fox. The acquisition price implies a total equity value of about $52.4 billion and a total transaction value of about $66.1 billion for the business to be acquired by Disney, which includes consolidated assets along with a number of equity investments.

In November 2017, AT&T and Time Warner agreed to again extend the termination date of their proposed merger to April 22.