Home » Comcast/Xfinity »Competition »Consumer News »Online Video »Public Policy & Gov't » Currently Reading:

21st Century Fox Accepts Disney’s Sweetened $71.3 Billion Offer, Outbidding Comcast

Phillip Dampier June 20, 2018 Comcast/Xfinity, Competition, Consumer News, Online Video, Public Policy & Gov't 1 Comment

21st Century Fox has accepted an improved $71.3 billion bid from Walt Disney Co. to acquire its entertainment division, outbidding Comcast’s all-cash $65 billion bid for Fox’s content companies.

Rupert Murdoch and shareholders will walk away from the majority of Fox’s media empire well compensated from a short-term bidding war between Disney and Comcast, which has raised the acquisition price substantially above Disney’s original offer in December.

Disney CEO Bob Iger’s current offer is being seen as “very aggressive” by Wall Street and designed to deter Comcast from responding with a better bid of its own. Comcast was already planning to load up on debt to finance the deal, and was unwilling to include shares of its stock as part of the transaction. Disney itself is putting a huge amount of money on the line to acquire Fox. After including Fox’s current debt load, Disney’s latest offer means the total transaction is expected to exceed $85 billion.

Disney’s decision to postpone an important meeting to discuss Comcast’s bid could be a signal Comcast is preparing a counteroffer.

Whatever company ultimately wins control of Fox will own and control the majority, but not all of Fox’s media assets.

21st Century Fox Assets to be Acquired by Disney (or Comcast if it returns with an even higher bid):

Fox Entertainment Group:

20th Century Fox
Fox Searchlight Pictures
Blue Sky Studios
Fox Star Studios
Fox Networks Group
Fox Sports Networks

FX Cable Networks
National Geographic Partners (Nat Geo suite of cable networks and National Geographic Films) (73%)
Star TV (Asian satellite TV service)
Hulu (United States) (Fox’s 30% stake, giving either buyer 60% ownership and control of the service)
Sky (39.14%) (United Kingdom satellite TV service and content producer)
Endemol Shine Group (50%) (Producer of reality TV shows including Big BrotherMasterChefThe Biggest Loser and Hunted.)

21st Century Fox Assets to Be Spun Off to “New Fox” — an independent company owned by current 21st Century Fox shareholders

Fox Broadcasting Company – The Fox Television Network
Fox Television Stations Group (28 local TV stations)
Fox Television Station Productions
Movies! (a digital subchannel network run as a joint venture with Weigel Broadcasting and seen on around 75 local stations around the country)
MyNetworkTV
Fox News Channel and Fox Business Network
Fox Sports:

Big Ten Network (51% owned in joint venture with Big Ten Conference)
Fox Deportes
Fox Sports 1
Fox Sports 2
Fox Soccer Plus
Fox College Sports
Fox Sports International

The 20th Century Fox studio lot (to be leased by Disney)

A battle is still raging for control of Sky, the United Kingdom’s biggest satellite TV provider. Fox originally sought to acquire the portion of Sky it did not already own, but was derailed by a sweeping 2011 phone hacking scandal after news emerged Murdoch-employed reporters illegally hacked into the private voicemail boxes of celebrities to help fuel new story ideas and substantiate personal scandals. When it was revealed reporters listened to the messages of a murdered schoolgirl, allowing her parents to mistakenly believe she was still alive, the scandal went viral and prompted both criminal and regulatory probes of Murdoch’s operations in the United Kingdom. It also led to the closure of the country’s largest tabloid newspaper, the Murdoch-owned News of the World. The scandal has been widely blamed for Murdoch’s inability to convince regulators to approve his bid for full ownership of Sky Television. Murdoch is now cutting his losses and selling the entire operation to either Disney or Comcast.

Currently there is 1 comment on this Article:

  1. Joshi says:

    Honestly, I’m glad Comcast did not win the bid. If they won, things would have gotten a lot worse since they bought out NBC Universal and Dreamworks studio over several years ago. It’s probably better if Disney got Fox instead. I would not be surprised if Comcast comebacks with a counteroffer.







Search This Site:

Contributions:

Recent Comments:

  • Gale Blue: It’s sounds good until u paid ur money and then u get an email saying they need additional info smh I am a mother who lives wit my daughter and the ca...
  • Victor Bosnich: Have been trying to return this junk and get my refund of $100+ for months, finally had chat with technician, told him situation, he sent me to next p...
  • Jr: Can I still use the same wifi router they gave me? I'm going to get the Netgear but it says I need a router to get WiFi so what do I do?...
  • RJ: I get great service from Charter with Internet. Their upload speed sucks so they need to upgrade, innovate and get Full duplex going. I'd love to have...
  • Inga Nobles: Forgot password and username I'm enquiring about the promotion samsung chromebook...
  • fhall1: The PSC should also make a point of extending other "conditions" that were agreed to as part of the TWC buyout. For example - data caps. Spectrum ag...
  • Frontier Employee: I am a current Frontier Employee and I can promise you that the company's lack of concern for those less fortunate does not solely reside with its cus...
  • JayS: The MVNO US Mobile has just changed their 'Unlimited talk & Text + data plans' similar to what you have indicated. The Unlimited Talk & Text ...
  • Peter: I made three appointments over a period of three weeks ... the tech serviceman never showed ... and they never contacted me to tell me why. When I ca...
  • Joe: liveTexas, how much did YouTube pay you for that ridiculous post?...
  • liveTexas: What's the Big Deal here, y'all? Watching TV on Cable, Satellite or Other Independent sources ALL have ads to view a program. Why the Fuss , no, MADNE...
  • Phillip Dampier: I have a feeling since this is a new plan designated with a new code number identifier, you will be able to make a change. This isn't a new customer p...

Your Account: