James Murdoch will not move to The Walt Disney Co. if a $52.4 billion deal for 21st Century Fox's media assets is completed and will instead look to start a venture capital fund to invest in digital and global media businesses, The Wall Street Journal reported Tuesday.
Neither Disney nor Fox could be reached for comment.
According to CNBC, Comcast's bid would go forward if the United States Government approves AT&T's acquisition of Time Warner. Cable giant Comcast Corp.is making preparations to potentially pursue a hostile, all-cash bid for these assets, and has lined up the necessary financing, people familiar with the matter say.
Arguments in the antitrust case against the deal concluded last week, with the judge saying he would announce his ruling on June 12.
Part of the back and forth for 21st Century Fox and its assets is because of the animosity between Comcast CEO Brian Roberts and Disney CEO Bob Iger.
Separately, on another track, Comcast and Fox are each vying for full control of Sky and have lobbed in bids.
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As per media reports, Comcast is asking bankers to increase the loans it has to buy Sky so it can purchase the Fox assets as well.
Comcast has circled the Fox assets for months.
That being said, should the Time Warner and AT&T amalgamation pass, pending government approval, of course, in addition to 21st Century Fox, Comcast would also acquire United Kingdom satellite TV provider Sky - which would see the global telecommunications conglomerate's bid reach the $100B mark.
The notion of James Murdoch having a possible role at Disney wasn't a factor in Fox's final decision to opt for Disney's offer over Comcast's, according to people familiar with Fox's thinking.
21st Century Fox and Wall Street Journal-parent News Corp share common ownership.
John Nallen, now the chief financial officer of 21st Century Fox, is expected to become the chief operating officer of the so-called New Fox, the people said.