In an attempt to steal the glory from Disney, rival broadcaster, Comcast has formally made a $65 billion all-cash bid for 21st Century Fox assets.
Earlier, Disney had attempted to secure the same film and television assets for a price of $52.4 billion. This will no doubt intensify the bidding war between the two giants, both of which are eager to buy Fox to thwart opposition from the current digital space.
In a letter to Fox’s board, and members of the Murdoch family, Comcast’s CEO Brian Roberts said, “We were disappointed when [Fox] decided to enter into a transaction with The Walt Disney Company, even though we had offered a meaningfully higher price.” It goes on to say, “We are pleased to present a new, all-cash proposal that fully addresses the Board’s stated concerns with our prior proposal.”
The news comes days after a federal judge ruled that AT&T was permitted to acquire Time Warner.
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