Comcast Might Drop Interest in Either Fox or Sky, MoffettNathanson Says
Comcast's recent stock slide increases the odds the company will back off on its interest in either Fox or Sky, MoffettNathanson analyst Craig Moffett wrote investors Wednesday. It said investor bearishness on Comcast stock after its bid for Sky reflects…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
a variety of issues, including fears that cash from the cable business would be increasingly diverted to other lines of business, and that the Sky bid reflects a Comcast desire to diversify away from its core cable business that has few growth prospects. It said a key issue is whether Comcast sees Fox as optional or vital for its interest in becoming a global media operator. It said it's increasingly doubtful Comcast pursues Fox even if the U.S. v. AT&T and Time Warner outcome is favorable toward a vertical deal. Comcast didn't comment.