Comcast is rounding up financing to make an all-cash $52 billion bid to acquire most of 21st Century Fox's assets, Reuters reported Monday.
The US cable giant's deal would upset Walt Disney's proposed deal with Fox.
Comcast in February offered $30 billion to acquire the remaining 61 percent of Sky TV, a major UK television company, undermining a long-standing takeover attempt by Rupert Murdoch's 21st Century Fox.
Comcast's offer is the latest in a frenzied period of media giants attempting to buy one another, as traditional television and film companies face growing competition with tech giants.
Deep-pocketed companies like Amazon and Netflix have eye-popping budgets that are pouring money into media production.
Meanwhile, AT is trying to buy TV programmer Time Warner despite government opposition, and Disney in December agreed to purchase 21st Century Fox, a deal that also needs approval from regulators.