Disney improves offer for 21st Century Fox

disney fox deal

The US entertainment group Disney has added in the bidding race for the majority of the assets of 21st Century Fox.

Not only does Disney offer a higher price under a new agreement with Fox, it also adds a cash component to its offer.
Disney now wants to pay $ 38 per share, $ 10 more than the December agreement. Fox shareholders can now choose to receive the equivalent in shares or in cash.

Fox said the Disney deal was “superior” to that of Comcast . The US cable operator submitted a $ 35 per share counter offer last week, valuing Fox assets at $ 65 billion. This, however, Fox has rejected.

The assets held for sale are the entertainment business, such as Fox’s Hollywood studio, international pay-TV offerings and the Hulu streaming service. Not part of a transaction would be broadcasters such as Fox News and Fox Sports 1, which should be outsourced to an independent company.
21st Century Fox has the same major shareholders as News Corp., the parent company of Dow Jones and thus this news agency.

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