Disney Ups Their Fox Bid to $71 Billion Throwing the Ball in to Comcast’s Court for a Counter Offer
The battle for 21st Century Fox continues as Disney has upped their offer for the company to $71.3 billion. The $38-a-share is $10 a share higher than Disney‘s previous and $3 above Comcast‘s bid. There’s also more flexibility and other enhancements than the Comcast offer.
Disney’s offer gives Fox shareholders the option to take their payment in cash or stock, up to a 50-50 level. The previous Disney offer was an all-stock deal. Comcast had made a cash offer. Disney will also take on $13.8 billion of Fox’s debt putting the total transaction about $85 billion.
There’s also a fight over Sky, a British pay-TV company, which Fox is attempting to acquire but Comcast came in with a higher big.
Comcast had offered $65 billion for Fox, as well as the Sky deal. The company has high debt which may make it difficult for them to counter the latest offer.
The deal covers a lot, but not all of Fox’s assets. Included are Fox’s movie and TV studios, television networks like FX, multichannel providers like Star India and Sky Plc, a 30% stake in Hulu, and properties like the X-Men and Fantastic Four.
AT&T and Time Warner are currently merging which is making deals such as this a higher priority. Experts expect numerous deals over the next few years as media consolidates even more.

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