Disney Has Outbid Comcast With A $71 Billion Offer For 21st Century Fox

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The purchase of 21st Century Fox has been underway for some time now, with the two potential buyers being Comcast and The Walt Disney Company. Comcast bid $65 billion for the company, which includes film and television divisions such as 20th Century Fox and Fox Searchlight as well as the film rights to franchises like X-Men and Planet of the Apes. However, Disney has now increased their bid to $71.3 billion, outbidding their competitor in the process.

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Disney’s bid to Fox is a $38-a-share price, which is $10 higher than what was proposed in December 2017 and $3 higher than Comcast’s recent bid. Because of this, Fox has considered Disney’s deal to be the most promising. In addition, the purchase of Fox also means the acquisition of companies it partially owns, such as the European channel Sky. According to Bloomberg Intelligence analyst Paul Sweeney, Disney’s offer is a “very aggressive move” and will make it difficult for Comcast to outbid Disney’s latest offer.

This does not mean that the purchase of Fox has gone through, as no official statement from either The Walt Disney Company of 21st Century Fox has been released. However, if Comcast is unable to outbid Disney in the future, then there is a strong chance that Disney will buy out Fox and its other assets.

What do you think about Disney increasing their offer to Fox to $71 billion, and do you think Fox will settle with this deal? Be sure to tweet your thoughts at @superbromovies.

Mark Tan

Source: Bloomberg

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