Good IO Question

This may be more properly be analysed by a spreadsheet comparing the model of monetizing a broadcast-television-centric structure (Fox) to the subscriber-centric structure of Comcast. Both models are capitalized both by ad sales and by cable subscriber revenue.
Otherwise, Fox has a higher probability of converting NBC’s assets into a stream of entertaining and profitable products than Comcast. Fox’s entertainment division has a recent historical record of producing hit programs reliably and economically. The broadcast network has been grown from nothing to leading status in what, 20 years? Fox has the infrastructure to fully monetize the broadcast portion of the proposed acquisition (i.e., to sell advertising.) Comcast does not. Also, Comcast is successful in the pipeline business, admittedly a tough business but one which essentially delivers someone else’s product to the end-user’s door. That’s traditionally a steady, predictable business but not a terrifically profitable one (see Charter’s recent bankruptcy.) That business model’s doubly under siege: New technologies–DSL solutions (AT&T’s U-verse, xDSL-like solutions for smaller phone companies), terrestial-radio solutions (cellular companies 3G and 4G systems), satellite internet (WildBlue, HughesNet) and satellite broadcasters (DirectTV, Dish Network) are all competitors in that pipeline business. And, new technologies have a built-in, blanket advantage over established companies in financing–new tech, once initially financed, isn’t expected/required to be profitable for years. Established, older companies don’t have that freedom.
A wildcard in this analysis is the library of old shows that will be transferred with the sale, if such a library is included. Ted Turner was said to have acquired MGM’s library for little or nothing back in the day by buying MGM, stripping out the library (then thought to be worthless) and reselling the production facilities. That library became a cornerstone of Turner Broadcasting. Such a library could be exploited by a new network, broadcast or cable-based and monetized by a blend of advertising and subscriber fees. Again, the advantage goes to Fox. They have a strong record of success with both new broadcast models and cable networks. Comcast–not so much.
Comcast