Disney increases bid for Murdoch's Fox assets

The advantage swings back to Disney to acquire some of the most valued assets in the entertainment world

The Walt Disney Company today announced that it signed an amended acquisition agreement with 21st Century Fox for $71.3 billion in cash and stock.

The new offer shoulders Comcast's bid out of the way as Disney looks to lock up Fox, which is home to marquee franchises like X-Men, Deadpool, Kingsmen, and Planet of the Apes; animated films like Ice Age; and TV assets like The Simpsons and edgy network FX.

Back in December, Disney agreed to snap up 21st Century Fox for $52.4B, however, recently Comcast officially put in a bid for $65B for the same entertainment assets.

The 21st Century Fox logo is displayed outside the News Corporation building in the Manhattan borough of New York City, New York, U.S., June 15, 2018.

Disney is locked in a battle with U.S. media conglomerate Comcast, which has offered $65bn in cash for Fox.

Disney whose movies include The Incredibles 2 first offered US$52.4b in stock for the bulk of Fox assets
Disney whose movies include The Incredibles 2 first offered US$52.4b in stock for the bulk of Fox assets

As part of the deal, Disney will acquires 20th Century Fox, Fox's film studio, as well as a cable group that includes FX Networks, National Geographic and several worldwide channels and regional sports networks. Also included is Fox's 30% stake in Hulu and 39% interest in Euro satellite broadcaster Sky. Fox has postponed a July 10 meeting, which had originally been scheduled for shareholders to vote on the deal.

In pre-market trading, Fox shares rose 5.4% to $47.11, Comcast's were marginally lower, while Disney's rose by 1.3% to $107.50.

Any takeover by either Disney or Comcast would be likely to face regulatory scrutiny.

It has driven broadcast giant CBS to try to merge with Viacom, which owns the MTV and Nickelodeon television stations. Granted, they'd sued to block the merger between AT&T and Time Warner - which didn't pan out, obviously - but with Disney and Comcast still going toe to toe, with plenty left in the tank, this thing is far from over.

Related News:

  • Man Stabs Himself to Death Testing Out

    Man Stabs Himself to Death Testing Out "Stab-Proof" Vest

    A man in Stockton-on-Tees, England, fatally stabbed himself trying to test out the fortitude of a vest he believed was stab-proof. The Sun reported a police investigation launched after the stabbing. "It seems clear that's the situation with Jordan", she said.

    Neymar injured in practice, expected back in training

    Video at training captured the incident, which appeared to come in a routine exercise with his teammates. For Neymar or any other player for Brazil , the pressure is always there, this is expected.
    South Korea holds war games to defend against Japan

    South Korea holds war games to defend against Japan

    Kim could ask for a withdrawal of or a reduction in United States forces in South Korea - a longstanding goal in Pyongyang. But officials are studying other ways to keep up the military's capabilities, such as smaller-scale exercises.
  • Toxic Giant Hogweed Plant Has Spread to Virginia

    Toxic Giant Hogweed Plant Has Spread to Virginia

    Compresses soaked in an aluminum acetate mixture - available at pharmacies - can provide relief for skin irritations. The site advises to "call your healthcare provider for any severe reactions or if sap has gotten into your eyes".
    Atletico Confirm Lemar Signing As Griezmann Extends Deal Till 2023

    Atletico Confirm Lemar Signing As Griezmann Extends Deal Till 2023

    Griezmann announced in a special TV show last week that he was staying, despite being widely expected to join Barcelona. Vice-president Jordi Mestre says the club will speak to Gerard Pique privately about the matter.
    Attorneys General sign letter demanding end to border separation

    Attorneys General sign letter demanding end to border separation

    Trump and others in the administration have falsely blamed the separations on a law the president claims was written by Democrats. Both Sessions and Sanders have claimed that enforcing the policy - which they say is "law" (it isn't) - is, in fact, "biblical".
  • Today in Trump's Prison Camps for Children: White House Ignores Their Cries

    This means parents are sent for federal court proceedings and separated from their children, who can not be jailed under USA law. Trump's Monday morning tweets come amid a growing backlash over his administration's "zero-tolerance" immigration policy.
    Dutch police search for van driver who plowed into concertgoers

    Dutch police search for van driver who plowed into concertgoers

    The van had been driven away from the scene prompting a search across the border into Belgium and Germany. In a statement on Twitter the festival organisers said they were "deeply shocked" by the incident.

    Hogan Pulling Maryland National Guard From U.S. Border

    Senator Pat Roberts, from Kansas, said he is "against using parental separation as a deterrent to illegal immigration". But Trump touched on many topics during the meeting, including his historic meeting with the North Korean Kim Jong Un.
  • Winning start for Hendo and Trent as England defeat Tunisia

    Winning start for Hendo and Trent as England defeat Tunisia

    To be the best player in the world you have to aim high - you can't aim low - so just put no limits on yourself. A cricket score had looked on the cards early on as England ran the North Africans ragged.
    Israeli Planes Hit 25 Targets In Response To Gaza Rocket Fire: Army

    Israeli Planes Hit 25 Targets In Response To Gaza Rocket Fire: Army

    Three more landed inside the Jewish state, he said, but did not account for the remainder. The exchange was one of the most intense recent barrages of rocket fire and air strikes.
    Diabetes Mellitus may be an early sign of pancreatic cancer

    Diabetes Mellitus may be an early sign of pancreatic cancer

    Going by a recent study in the field of diabetes and health, type 2 diabetes may be an early expression of pancreatic cancer. This is because the vast majority of pancreatic cancer patients (some 80 percent of them) are diagnosed at a late stage.


Most liked

Ronaldo, Portugal look to knock Morocco out
Portugal faces off with Morocco in their second match of Group B play at the 2018 World Cup in Russian Federation on Wednesday. Defender Pepe said that being reigning European champions means nothing two years on because "there are no favourites here".

NBA Draft: 3 Reasons Hawks Should Pass on Porter Jr
I think the teams are comfortable but I might get a couple workouts in". "Right now, I would say I'm a mix of Giannis and KD". You've probably read countless different articles listing who the Lakers should be considering in the 2018 NBA Draft.

Afghanistan Taliban attack soldiers in Badghis province after Eid al-Fitr cease-fire
President Ashraf Ghani extended his unilateral ceasefire, initially due to end on Wednesday, by 10 days. The three-day Taliban ceasefire ended on Sunday.

Ronaldo bust swapped at Madeira airport
But the change has not gone down well with everyone and a petition has been started to bring the old sculpture back. The views expressed therein are not necessarily those of stlucianewsonline.com, its sponsors or advertisers.

OPPO Find X launching as first North American and European device
Under the strategy, the latest brand will launch all new devices in India first before introducing it to any other global market. The phone with the peculiar name ditches the notch for pop-up cameras in order to make room for a bezel-free screen .

Lukasz Fabianski responds when quizzed about West Ham move
We will wait and see what will happen. "I hope to help the team win lots of games and make the fans happy". Fabianski is now part of the Poland squad at the World Cup in Russian Federation .

SBS to take over Australian broadcasting
Optus said in a statement on Sunday that some viewers had experienced issues, and that it was working on improving the experience. Football fans were left fuming on Sunday night after Optus's broadcast of the World Cup failed for a third successive night.

Telstra announces it will axe 8000 employees and contractors in company restructure
Federal Labor frontbencher Richard Marles has described as a "huge shock" Telstra's decision to slash 8,000 jobs. That's where the job losses - including the wiping out of two to four layers of management - stem from.

Arsenal have confirmed that midfielder Jack Wilshere will leave the club
Jack Wilshere has confirmed that he will leave Arsenal when his current contract expires at the end of the month. The statement concluded: "Thank you Jack for your contribution and the fantastic memories".

Chief Economic Adviser to leave finance ministry, return to US
Mr Subramanian graduated from Delhi's St Stephen's College and got an MBA from the Indian Institute of Management (IIM)-Ahmedabad. He would walk into my room-at times several times a day-addressing me as "Minister" to give either the good news or otherwise.

Taliban Rejects Afghan Government's Proposal to Extend Ceasefire
At least 36 people were killed. "Now we will have sit-ins in tents and continue walking to other provinces to get more support". On Saturday, the Afghan president urged the militants to follow the government's lead and participate in peace talks.

US, UN welcome Afghans ceasefire extension
The Afghan Taliban have rejected calls to extend a three-day ceasefire declared for the Muslim Eid festival. The truce does not include United States counterterrorism efforts against groups such as al Qaeda and ISIS.

Sergio Ramos Appears To Take The P*ss Out Of Cristiano Ronaldo
Morocco might be without Nordin Amrabat, who suffered a concussion in Friday's 1-0 loss to Iran . The Portuguese captain scored a hat-trick to seal a 3-3 draw in their World Cup opener.

Facebook now running autoplay video ads in Messenger
Autoplaying videos have always been a selling point for the social media platform in the advertising market. Facebook is rolling out autoplaying video ads on Messenger , the company confirmed to Quartz June 19.

Australian nun wins appeal to stay in Philippines
Fox's visa was revoked because she worked outside a village in suburban Quezon city in metropolitan Manila where she had said she would confine her work.