Comcast confirms it's considering an all-cash offer for 21st Century Fox that outbids Disney

Michael Seto

Comcast CEO Brian Roberts

Comcast said Wednesday it was considering an all-cash offer for most of 21st Century Fox's assets to outbid Disney's previously announced deal.

Reuters had reported earlier in May that Comcast was speaking to investment banks, preparing a bid that would surpass Disney's $52 billion offer. The assets Disney had agreed to buy exclude the Fox New Channel and Fox Business Network.

Comcast said it hasn't made a final proposal, but "the work to finance the all-cash offer and make the key regulatory filings is well advanced."

Comcast previously made a £22 billion ($30 billion) offer for the 61% stake in the European pay-TV group Sky.

Shares of both companies were little changed in premarket trading.

More to come ...