Three sources reportedly told Reuters that Comcast would be offering $60 billion for the media assets that 21st Century Fox had agreed to sell to Disney, with the deal announced on 14 December previous year.
Comcast, who initially cited sturdy stock as a reason for 21st Century Fox to accept their deal instead of The Walt Disney Company's, has seen shares fall about 15 percent since Disney announced their bid for Fox.
The Burbank entertainment giant subsequently announced a reorganization that positioned two executives as possible successors to Iger: Kevin Mayer, the newly appointed head of the direct-to-consumer business, and Bob Chapek, head of parks and consumer products.
Regulatory concerns aside, Fox last month viewed Disney's stock as "more valuable than Comcast's, based on historic prices, and felt that a deal between Disney and Fox would generate greater long-term value", says Reuters. A spokesperson for Disney was not immediately available.
A venture fund is one of several new opportunities James Murdoch has been considering, some of the people said. "Picking businesses, mentoring business, and running businesses is what he does". By purchasing most of their film and TV outlets - including channels like Fox Sports and FX, and franchises like the X-Men and Avatar movies - Disney would become arguably the dominant force in American and worldwide media. However, if the government does not approve, then Comcast has no intention of placing a bid. The deal was subject to approval from Disney and Fox shareholders, and it also needed to be approved by merger and regulatory reviews, as well as meet other "closing conditions". The 21st Century Fox intellectual property would add to the exclusive content on that video streaming service.
If the deal closes, Murdoch could be the odd man out, as reports suggest that his older brother Lachlan and his father Rupert are expected to remain with what's now being called New Fox, consisting of Fox News Channel, Fox Business Network and the Fox broadcast network.