Comcast Officially Puts in $65 Billion Bid for 21st Century Fox, Topping Disney’s Current Bid

/Film | 6/13/2018 | Ben Pearson
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Things just got slightly more complicated in the ongoing saga of 21st Century Fox. Many of the company’s assets were long thought to be acquired by Disney, but as promised, Comcast has now officially swooped in with a superior offer to acquire Fox’s film studio, most of its TV channels, and more. And it looks like they’re coming out swinging: a Comcast Fox deal would mean that Comcast would buy the Fox assets for a hefty $65 billion, far surpassing Disney’s offer of $52 billion.

Comcast originally outbid Disney back in December of last year, but Fox entered into a loose agreement with Disney largely partially because of fears about government regulations and antitrust concerns. The whole deal was basically put on hold as Hollywood waited to find out what would happen with AT&T’s attempt to acquire Time Warner. The Justice Department was opposed to the acquisition, but the case was taken to the courts and the verdict finally came in earlier this week. The U.S. government approved AT&T’s acquisition of Time Warner (including media companies like Warner Bros. and HBO), and emboldened by that decision, Comcast has now put in a significantly higher bid for 21st Century Fox’s assets.

Verge - Reports - Comcast - Fox - Shareholders

The Verge reports that Comcast has offered to pay Fox shareholders $35.00 per share in cash, whereas Disney’s bid is all tied up in stock. That’s a grand total of $65 billion, which is 19% better...
(Excerpt) Read more at: /Film
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