Comcast attempted to acquire Fox's assets past year in a bid worth US$64 billion, but Fox opted to recommend Disney's lower bid, citing regulatory hurdles that would have stood in the way of an alternative scenario. In November, the Murdoch family, which controls Fox, turned down a bid from the Philadelphia, Pennsylvania-based company because they believed that a tie-up with the cable operator would more likely be blocked by regulators.
Comcast, the world's biggest entertainment company, stunned the industry in February when it made an informal bid for Sky, taking on Fox which is in the final stages of its own bid to buy the 61pc of Sky it does not already own. This comes after Comcast offered $31 billion to get a 61% stake in Europe's pay-TV group Sky PLC.
Comcast is reportedly seeking increased financing from bankers to make a $60 billion all-cash offer for 21st Century Fox's assets. 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. While Disney and Fox's respective boards of directors approved the deal, it hasn't gone through yet.
Regardless of Comcast's offer shaking up the current progress of the deal in the works, CEO Brian Roberts has imposed his own closing condition, with the publication claiming that the deal would only push forward is AT&T's takeover of Time Warner for $85bn proceeds.
Global crude oil prices inch up on possible Iran sanction worries
His impressive career goes back nearly three decades, gaining attention with his market calls as writer of "The Energy Report ". West Texas Intermediate ( WTI ) crude futures were trading 15 cents lower at $68.28 per barrel by 0719 GMT.
Fox shares rose 5.13 percent to $39.99 on the news in after-hours trading in NY on Monday.
Shares of Fox were last up 2.2 percent at $38.86.