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Disney outbids Comcast for 20th Century Fox with $71.3 billion



Marvel Comics

The saga continues….

As we had expected Disney has prepared a further counter bid to combat Comcast’s $65 billion cash bid to take over 20th Century Fox.

As Fox executives continue to consider the various offers ahead of their upcoming board meeting Disney was preparing to throw a spanner in the works.

It is thought that Disney’s new $71.3 billion offer is a mix of both stocks and cash. Here’s a statement from Disney’s Chairman and Chief Executive Officer Bob Iger:

“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox. At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”

Now we await the final outcome…

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