9 - 9Shares
If you’re anything like me then you were at least slightly concerned that Comcast might have tanked the potential deal between Fox and Disney. This upset me mainly because I see Comcast as a blight on the world that represents everything that big businesses can do wrong, and them acquiring all of Fox’s assets would be a doomsday scenario. But for most people, the main concern was that this might put a damper on Disney gaining IPs like X-Men and The Fantastic Four. Well everyone can rest easy, at least for now.
Today we learned via Comicbook.com, that Disney has made a new offer on Fox. Coming in at $71.3 billion dollars, the new offer passes Comcast’s all-cash bid of $65 Billion.
This may or may not be the end of the bidding war. Comcast does have the opportunity to make another offer although people seem skeptical that they will be able to put together something more appealing. Indeed Disney seems quite confident in their victory in the battle with Comcast.
“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,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
We will continue to bring you updates and new developments on the situation as they occur.
Brian Cowan loves playing video games, football, Magic, and pretty much anything else that he can use as an excuse to waste time. When he is not doing the above or working, he is usually writing or reading.
9 - 9Shares
