The Faber Report

Behind the deal: Comcast offer was higher, but Fox preferred Disney stock

Key Points
  • Comcast indicated a higher offer for Fox assets, according to sources familiar with the matter.
  • Fox preferred Disney stock to Comcast stock, the sources said.
  • Comcast had also been looking at the assets but stepped back earlier this week, leaving Disney as the sole suitor.
Comcast indicated higher offer for Fox assets: Sources

Comcast, which dropped out of the running for assets being sold by Twenty-First Century Fox, had a higher offer than Disney, but the Murdoch family preferred Disney stock, sources familiar with the matter told CNBC.

Disney and Fox announced their $52 billion deal on Thursday, in which Disney will acquire Fox's movie and television production assets, leaving Fox with news and sports divisions and Fox shareholders with 25 percent of the new Disney.

Comcast, the cable giant that owns CNBC, had also been looking at the Fox assets, but bowed out earlier this week leaving Disney as the sole suitor.

Fox, run by Rupert Murdoch and his sons James and Lachlan, preferred to get Disney stock, the sources said.