Comcast is speaking to investment banks about obtaining bridge financing for an all-cash bid to displace Walt Disney Co on its $US52 billion deal to acquire most of Twenty-First Century Fox Inc’s assets, three people familiar with the matter said on Monday.
The move is the first concrete step that Comcast is taking to upend Disney’s deal with Fox. Comcast has already made a 22 billion pound ($US30 billion) offer to acquire the 61 per cent stake in European pay-TV group Sky Plc that Fox does not already own.
To read more about how Comcast is preparing to crash Disney’s deal with Fox, click here.
In other news:
Google has built a powerful AI arsenal to take on Apple and Amazon, and the tech it shows off Tuesday will reveal who dominates the world after smartphones. AI is expected to play pivotal role at the Google I/O conference on Tuesday.
Amazon’s Prime video service has a weird problem: People are paying for it but aren’t watching it.Amazon’s Prime service is now the No. 3 video-streaming service behind Netflix and YouTube, but a new survey by Morgan Stanley shows that only one out of three Prime members actually uses Amazon’s streaming-video service.
Snap is giving an Amazon exec $US20 million in stock to replace its CFO one week after reporting disastrous earnings. Tim Stone is replacing Andrew Vollero, who was in the job for just over two years.
Snap rises after hiring an Amazon veteran as finance chief. Shares of Snap rose 1.5% in early trading Tuesday, breaking a five day losing streak, following the departure of chief financial officer Andrew Vollero and his subsequent replacement by former Amazon executive Tim Stone.
YouTube pulled hundreds of videos of the weekend sponsored by paid essay-writing service EduBirdie, over worries it encourages cheating. A BBC investigation found the existence of more than 250 YouTube channels containing paid promotions for EduBirdie on the site.
Facebook is inadvertently connecting ISIL terrorists through its friend suggestion algorithms, according to an upcoming study. Researchers from the Counter Extremism Project found that just researching extremists meant Facebook began suggesting them as friends.
Adidas has reportedly put its Facebook video ad spending on pause, reports Digiday. Adidas is unhappy with low viewability and retention rates and the level of data Facebook shares with advertisers to help them measure the efficacy of their ads on the platform.
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