Disney Raises Fox Bid to $71 Billion, Dealing Blow to Comcast

Posted June 21, 2018

The move comes a week after Comcast, the US cable giant, offered $65bn in cash for the assets, which include 20th Century Fox - the Hollywood film studio behind hits such as Avatar, X-Men and Ice Age - US cable TV networks including FX and National Geographic and worldwide pay television assets including Star TV in India.

The move comes a week after Comcast, the telecommunications conglomerate, countered Disney's $52.4 billion all-stock deal with a bid of $65 billion in cash. The Murdochs face a large capital gains tax bill under Comcast's all-cash offer.

Disney no longer expects to complete the $20 billion share repurchase it announced in December, McCarthy said. This valuation is a $3 premium over Comcast's $35 a share all-cash offer that they made just last week.

The deal would include Fox film and TV studios, some cable networks and global assets, but not Fox News Channel or the Fox television network. "He seems very personally committed to this".

The Walt Disney Company and 21st Century Fox have struck a new merger agreement, with Fox's leadership having rejected Comcast's attempt to outbid Disney.

Kolarov and Serbia aiming high
The Diario Extra argued that Costa Rica "got off on the wrong foot". The Ticos are hoping to improve on the 2014 World Cup in Brazil. The goal also represented a new record in this World Cup .

"In light of yesterday's decision in the AT&T/Time Warner case", Roberts said in the 700-word statement, "we are pleased to present a new, all-cash proposal that fully addresses the board's stated concerns with our prior proposal".

The release said Disney was confident the transaction would secure regulatory approval. Are you glad to see Disney own FOX? So just how high can the bidding war go? Disney committed to giving Fox shareholders Disney shares worth $38, as long as Disney's average stock price remains between $93.53 and $114.32.

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.

"Comcast has to come in with a higher bid", said Mario Gabelli, chairman and chief executive officer of Gamco Investors which owns 10.1 million Fox shares.

Speaking to analysts on a Wednesday morning conference call, Iger was confident that Disney would prevail over Comcast in the fight to snap up the Fox properties.

Including Fans Injured As Drunk Taxi Driver Ploughs Into Moscow Crowd
Pictures released by the Moscow Traffic Authority show the taxi came to a stop next to a knocked-down traffic sign. Russian authorities have vowed to host a safe soccer World Cup, which is taking place in 11 cities until July 15.

The US government is now suing to block a merger between Time Warner, and the telecoms giant AT&T.

Major sports and news assets including Fox News, Fox Business Network and Fox Sports are not part of the businesses being sold and would be spun off into a separate company.

Fox said it will postpone a special shareholders meeting in order to provide stockholders with an opportunity to evaluate Disney's amended offer.

21st Century Fox is one of the world's leading portfolios of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe.

Cohen Files Restraining Order Against Avenatti
Cohen would be indicted for bank fraud, wire fraud, campaign finance violations, and accused Mr. District Judge Kimba Wood to give Cohen's legal team until June 25 to complete the review.