Comcast was reportedly waiting for a favorable ruling to unleash its offer for Fox. And many believe it would set off a flood of other deal-making. Strategas said in a research note that companies brought $ 296 billion back to the U.S. from overseas operations in the first quarter after the tax cuts and “are flush with cash to do deals.”
Fox rose more than 5 percent.
Shares of Comcast were lower in aftermarket trading, while Disney fell 1.5 percent.
The deals combine giants of communications distribution and transmission with giants in content production. In the AT&T deal, the phone and cable company is taking on Turner Broadcasting’s movie and television production businesses and channels like CNN.