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The Latest: Disney counters Comcast with $71.3B bid for Fox

June 20, 2018


NEW YORK (AP) — The Latest on battle for Twenty-First Century Fox (all times local):


11:35 a.m.


Disney is offering more than $71 billion for Fox's entertainment businesses in a counterbid to Comcast's nearly $66 billion offer.


The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms. They are amassing ever more programming to better compete with technology companies such as Amazon and Netflix for viewers' attention — and dollars.


The deal would include Fox film and TV studios, some cable networks and international assets, but not Fox News Channel or the Fox television network. AT&T just bought Time Warner for $81 billion, after a federal judge rejected the government's antitrust concerns.


Disney offered more than $52 billion in December, at $28 per Fox share. It's now offering $38. Comcast's bid was for $35.


8:20 a.m.


Disney is making a $70.3 billion counterbid for Fox's entertainment businesses following Comcast's $65 billion offer for the company.


The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms. They are amassing ever more programming to better compete with technology companies such as Amazon and Netflix for viewers' attention — and dollars.


The deal would include Fox film and TV studios, some cable networks and international assets, but not Fox News Channel or the Fox television network. AT&T just bought Time Warner for $81 billion, after a federal judge rejected the government's antitrust concerns.


Disney had made a $52.5 billion all-stock offer in December. It's now offering $38 per Twenty-First Century Fox share, up from $28 per share.
 

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