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Likelihood of another Comcast offer for Fox assets has gone down: Faber

CNBC CNBC
Liz Moyer 2 months ago
Likelihood of another Comcast offer for Fox assets has gone down: Faber

Fox shares fell nearly 4 percent Wednesday as the likelihood of a potential competing offer from Comcast for the movie and television assets "has probably gone down," Faber said. "How much is very much unclear."

Shares of Comcast rose 1.2 percent, while shares of Disney rose 1.8 percent.

Fox is refereeing a bidding war for its movie and television production assets between Disney and Comcast. Disney recently upped its bid to $71 billion in cash and stock, slipping above Comcast's $65 billion all-cash offer, which came last month in response to an earlier Disney all-stock offer.

The bidding for both Fox assets and Sky has pushed the potential value of those deals well above levels where they started out, Faber noted. The bidding for Sky is about 40 percent higher than where it started.

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