7 years ago
Fox Accepts $71 Billion Disney Bid, Dealing Blow to Comcast
Walt Disney Co. raised its offer for 21st Century Fox Inc.’s entertainment assets to $71.3 billion, outbidding Comcast Corp. in a battle for one of the media industry’s biggest prizes. The $38-a-share price is about $10 a share higher than what Disney proposed in December -- and $3 above Comcast’s bid from last week. Fox has accepted the offer, saying it provides more flexibility and other enhancements than the $65 billion Comcast deal. Still, the opportunity remains for the cable giant to return with sweetened terms.
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