Comcast is prepared to duke it out with Disney over Fox and investors are paying attention.

Activist investor Chris Hohn, whose Children’s Investment Fund has a 7.4 percent stake in Twenty-First Century Fox, threw his support behind Comcast’s bid for assets on Wednesday.

Hohn, in a letter to Fox co-Executive Chairman Rupert Murdoch, urged the company to engage with Comcast.

The comments come on the heels of Comcast confirming it is “considering and is in advanced stages” of preparing an offer for the businesses that Fox has agreed to sell to Disney.

Earlier this month, Fox co-Executive Chairman Lachlan Murdoch said company directors are “aware of their fiduciary duties on behalf of all shareholders.”

In December, Disney agreed to buy Fox’s film, TV and international business assets for $52.4 billion to beef up its content offering against streaming rivals such as Netflix and Amazon.

The deal is subject to regulatory approval.

Comcast said its offer would be all-cash — estimated to be around $60 billion, a premium to Disney’s all-share offer.

“The structure and terms of any offer by Comcast, including with respect to both the spinoff of ‘New Fox’ and the regulatory risk provisions and the related termination fee, would be at least as favorable to Fox shareholders as the Disney offer,” Comcast said.

According to Reuters, which cited anonymous sources, Comcast is in talks with investment banks to increase a bridge financing facility by as much as $60 billion so it can make an offer for Fox’s media assets.

Spokespersons for Disney and Fox were not immediately available for comment.

Comcast shares were down 1.9 percent, to $31.88, while Disney was down 1.1 percent at $102.89, and Fox shares rose 1.3 percent, to $38.24.