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(Reuters) - Comcast Corp (CMCSA.O) offered $65 billion on Wednesday for Twenty-First Century Fox Inc (FOXA.O) media assets, emboldened by AT&T Inc (T.N) prevailing over the Trump administration’s attempt to block a merger with Time Warner Inc (TWX.N).

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A sign is shown at the entrance to Fox Studios in Los Angeles, California, U.S. June 13, 2018. REUTERS/Mike Blake

The all-cash offer for Fox’s movie and TV studios and other assets including the X-Men franchise, opens a war with Walt Disney Co (DIS.N), which has bid $52 billion in stock.

Comcast is expected to lead a wave of traditional media companies trying to combine distribution and production to compete with Netflix Inc (NFLX.O) and Alphabet Inc’s (GOOGL.O) Google. The younger firms produce content, sell it online directly to consumers and often offer lucrative targeted advertising.

AT&T won a court victory over skeptical U.S. antitrust regulators on Tuesday when a federal judge allowed it to buy Time Warner for $85 billion, which was widely taken as a green light for Comcast to submit its expected bid.

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Slideshow (3 Images)Comcast may face more difficulty than AT&T and other would-be acquirers, though, since Comcast already has its own TV and movie studios in the NBC Universal division, a content overlap AT&T-Time Warner lacked. Justice Department lawyers who tried to stop AT&T’s $85 billion deal expect consumers will lose out as bigger companies raise prices, and some lawyers saw that as a concern in a Comcast-Fox deal which would put two movie studios and two major television brands under one roof. “One cannot ignore the fact that there’s less independent content to go around,” after the AT&T deal, said Henry Su, an antitrust

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