Fox, media firms rise after AT&T-Time Warner approval

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(Reuters) – Twenty First Century Fox Inc’s shares rose 8 percent to a record-high on Wednesday as approval for AT&T’s buyout of Time Warner Inc spurred speculation that Comcast Corp would proceed with an offer for most of the media company’s assets.

The AT&T and Time Warner logos are seen on a monitor on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. June 13, 2018. REUTERS/Brendan McDermid

A firm offer from Comcast, widely expected later in the day, could upend Fox’s $52 billion all-stock deal to be bought by Walt Disney.

A federal judge on Tuesday approved AT&T Inc’s $85 billion buyout of Time Warner, rebuffing an attempt by U.S. President Donald Trump to block the takeover and potentially clearing the path for more such deals in a rapidly changing media industry.

Shares of other telecom and media companies such as Sprint Corp, CBS Corp and Discovery Inc were all up between 1.5 percent and 3 percent in early trading. Time Warner rose about…



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