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:

  • 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".

    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.

    Antarctica lost three trillion tonnes of ice in blink of an eye

    The study worked 84 scientists and 44 worldwide organizations who work for NASA and ESA. East Antarctica appears to be losing ice more steadily.
  • Ronaldo bust swapped at Madeira airport

    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.

    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.
    Taliban Rejects Afghan Government's Proposal to Extend Ceasefire

    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.
  • Messi has all our support - Dybala

    Messi has all our support - Dybala

    For Luka Modric, the emphasis must be on the unity of the team, as they go in search of a win that could put them in the last 16. Messi has the ability to produce moments of magic, but he will need his team to step up if they are to avoid an early exit.
    Arsenal have confirmed that midfielder Jack Wilshere will leave the club

    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".
    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".
  • NBA Draft: 3 Reasons Hawks Should Pass on Porter Jr

    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.
    Lewandowski on girl with Down syndrome being separated from family: 'Whuh, whuh'

    Lewandowski on girl with Down syndrome being separated from family: 'Whuh, whuh'

    The story was repeated by another Fox panellist, Zac Petkanas . "How absolutely dare you , sir". Corey Lewandowski in April 2016.

    Cristiano Ronaldo's Portugal are not a one-man team - Fernando Santos

    Moroccans are also keeping the high spirits hoping that a miracle will knock on their door step. Morocco lost by a solitary goal, an own which they buried onto their net when they faced Iran.


Most liked

The remarkable social media stats behind England’s World Cup victory
It continues his incredible goal scoring form following his prolific campaign at Spurs last season under Pochettino. However, neither Vardy nor Rashford have done enough to break into the starting team themselves.

Banned Blatter arrives in Russian Federation for World Cup
Blatter posed for photographs with fans from Mexico and Portugal on arriving at his downtown base after flying from Zurich. Blatter remains an instantly recognisable, if often polarising, figure to generations of football fans.

Puan, world’s oldest known Sumatran orangutan, dies aged 62 in Australian zoo
A Perth zookeeper has penned a heartfelt tribute to the world's oldest Sumatran Orangutan after she died at a West Australian zoo. Puan was euthanised on Monday after suffering age-related complications that the zoo said were affecting her quality of life.

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.

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 .

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.

AMD offers i7-8086K winners a Threadripper 1950X trade
Now, AMD is firing back at Intel's celebratory release with a giveaway of its own, but with an interesting twist. Kidding aside, if you're really interested, you'll have to head over to this page and "complete certain steps".

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.

Wolves fans' flag stolen at England v Tunisia World Cup match
Then he popped up again at the death to score his 10th goal in his last eight England games. Video footage showed him getting to his feet and rejoining the crowd of jubilant fans.

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.

Arsenal sign Bayer Leverkusen goalkeeper Bernd Leno
They have faced competition for his signature from Italian giants Napoli, who can offer Champions League football for next season. German global keeper Bernd Leno has moved to Arsenal from Bayer Leverkusen , with the deal confirmed on Tuesday evening.

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.

South Korean Cryptocurrency Exchange Bithumb Gets Hacked; Loses RM140 Million
As mentioned earlier, Bithumb was the second cryptocurrency exchange to be hacked within this month. Cybercriminals haven't been very kind to South Korea's cryptoexchanges recently.

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.