Disney ups bid for 21st Century Fox in hopes to fend of Comcast

Disney is not going to let Comcast scoop up 21st Century Fox from under its nose. The House of Mouse originally placed a bid back in December for a total value of $52.4 billion. Then Comcast came into the fold with an all-cash bid $66.5 million, threatening to detail Disney’s plans.

In response, Disney returned with an amended agreement to 21 First Century Fox worth $71.3 billion split evenly between cash and stock, one-upping the one-upper that is Comcast. The bid increase of $19.9 billion shows that Disney is not messing around and does not want to risk losing out on gaining Fox’s properties.

It’s unclear what Comcast’s response will be for the new deal but 21st Century Fox has already responded by accepting Disney’s new deal, possibly ending any hopes Comcast had to sneak one past Disney.

“The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018,” said Fox in a press release of the updated Disney bid.

Fox owns franchises like X-Men, Deadpool, Planet of the Apes and Avatar, which would add to the growing monopoly Disney already has in blockbuster franchises with Marvel, Pixar and Star Wars.

The content wars show how important it has become for conglomerates to own their own content. Disney is trying to beef up its already rich content with new additions while already planning to bring it all together with a streaming service set to launch in 2019.

On a side note, with Disney continuing to pursue Fox, it ensures that an MCU movie that includes the X-Men is still possible, which is something fans have been waiting for.

Article source: https://www.technobuffalo.com/2018/06/20/disney-ups-bid-for-21st-century-fox-in-hopes-to-fend-of-comcast/