Comcast confirms plan to buy 21st Century Fox and control of Hulu

(credit: Comcast)

Comcast today said it is preparing an offer to buy major portions of 21st Century Fox, which would give it majority control of Hulu and other media properties.

Walt Disney Company already has a $52.4 billion all-stock deal to buy the 21st Century Fox properties. But Comcast was rumored to be lining up $60 billion in financing in order to make a hostile bid for the Fox assets, and Comcast's announcement today confirms it.

Comcast "is considering, and is in advanced stages of preparing, an offer for the businesses that Fox has agreed to sell to Disney," Comcast's announcement said. Comcast is working on the offer in preparation for shareholder meetings in which the Disney/Fox deal will be considered.

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