“As we have said before, we feel confident that this process continues to be very good news for Fox shareholders,” wrote veteran media analyst Michael Nathanson.
Nathanson said Disney is in a strong position to compete with any potential follow-on bid from Comcast, saying the Burbank entertainment giant’s superior balance sheet, better business rationale and clearer regulatory path make it likely to emerge victorious in the bidding war.
“Before, the only outstanding question was whether Disney’s board and management would go to the mat on this transaction,” Nathanson wrote. “We now know, the answer is clearly yes.”