Judge approves AT&T-Time Warner merger opposed by Trump

Comcast readying new bid for 20th Century Fox film and TV assets

Fox said it hasn't yet made a decision whether to postpone the vote.

After all, Disney is big, but Disney is mostly an entertainment conglomerate, whereas Comcast is an industry that provides services to consumers.

Shares of 21st Century Fox rose about 1.2% in after-hours trading immediately following the bid. Fox is planning to unload its stake along with other entertainment assets as its controlling shareholder, Rupert Murdoch, restructures the company. Time Warner owns CNN, HBO, Warner Bros.

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Disney and Fox did not immediately respond to a request for comment. It's unclear at the present time if Fox will stick with the Disney deal or start a potential bidding war.

Disney representatives could not be immediately reached.

Comcast made an all-cash $65 billion offer to Fox for the latter companies film and television assets, worldwide holdings and its stake in Hulu, topping Disney's $52.4 billion all-stock offer to Fox for the same assets. If Fox pulls out of the Disney deal, they will have to pay a multi-billion penalty. This decision could put more pressure on companies like Amazon, Netflix and Google's YouTube, which have been competing with traditional media companies for eyeballs.

Sill, Hulu would give Comast and Disney's streaming business a needed boost.

They are fighting over Fox's television and film studios, as well as worldwide properties, including Star India and Sky. Under Iger's leadership, Disney has made streaming a priority.

Comcast already owns film and TV studios, broadcast and cable TV operations including the NBC and US networks, and the Universal Studios theme parks.

Competing against Netflix, however, won't be easy. Comcast and Verizon are also jockeying for position in the new landscape. For years, these so-called vertical deals have typically received light treatment from antitrust enforcers, unlike the horizontal mergers that bring together direct competitors.

The fate of the AT&T Time Warner deal has been decided.

It also tops this year's $85 billion acquisition of Time Warner by AT&T, which won a significant legal victory yesterday when a federal court rejected the government's claim that the deal would harm consumers.

Fox has already said it would be prepared to sell Sky News to Disney in advance of its proposed takeover of Sky to overcome any concerns about media plurality in the UK.

Regulators are now reviewing the Disney transaction. "With the deal approved we think it could spur other M&A activity for the group".

That means the transaction could close within 12 months of being signed, the cable company said.

"This is a golden offer that will put considerable pressure on [Disney CEO Bob] Iger and Disney to step up their game on another bid", GBH Insights analyst Daniel Ives said.

"Consumers may not notice the difference if this one deal goes through because they are already getting crushed in the marketplace", added Susan Crawford, a professor at Harvard Law School and author of Captive Audience on the Comcast/NBCUniversal merger. Comcast is making the offer even though Fox has not solicited it. Comcast, though, is in no danger of losing its investment grade rating on its debt.

AT&T says it plans to move forward with the deal in less than a week, leaving a small window of time for the justice department to file an appeal.

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