The telecommunications giant said Wednesday it is in “advanced stages of preparing” a “superior” all-cash offer for parts of Fox. Disney agreed in December to acquire those assets, which include Fox’s movie studios and a stake in Sky, for $52.4 billion in stock.
However, Disney’s stock offer would allow Fox to spin off the assets tax-free, while a cash offer from Comcast would result in a taxable spin, sources said.
A deal with Fox would boost Disney’s efforts to dominate video streaming and compete with Netflix.
Shares of Comcast fell 2 percent, and Disney shares trade1.4 percent lower. Fox shares gained 1 percent.
Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.