Comcast Bids $65 Billion for 21st Century Fox
While many are acting like it’s a done deal, Disney may not be reuniting the X-Men and Fantastic Four with the Avengers.
Comcast has formalized a $65 billion all-cash bid for most of 21st Century Fox. This is higher than Disney’s $52.4 billion deal revealed in December for the same assets.
This sets the stage for a bidding war that may be as entertaining as any summer blockbuster. Both companies want Fox to boost their influence in industries undergoing massive change.
Purchasing Fox would allow Comcast to deliver even more to consumers and create interesting bundles for their internet subscribers as an example. They already own NBC.
Comcast was in talks to buy Fox in 2017 but investors weren’t sure that such a deal would be approved by government regulation. After the recent court ruling giving the go ahead to the AT&T/Time Warner deal that is no longer a concern.
The deal now goes to Fox’s board who will need to determine which offer is better for the company. If they go with Comcast, Disney would have five days to counter.