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.
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Alibaba Group Holding Ltd’s entertainment arm has signed a licensing agreement with Walt Disney Co in a deal that will provide the Chinese group’s Youku video streaming platform with the largest Disney animation collection in China.
Alibaba said in a press release on Monday that the multi-year licensing agreement signed between Alibaba Digital Media and Entertainment Group and Disney subsidiary Buena Vista International Inc will see more than 1,000 Disney episodes released on Alibaba platforms which include set-top boxes.
The deal comes as Disney has faced obstacles in getting digital television content into China. In 2016, its DisneyLife online content venture, which it launched with Alibaba, was shut down by Chinese regulators less than five months after operations began. The reason for the shutdown was “The addition of Disney content greatly enriches the library of quality international content on Alibaba’s media and entertainment ecosystem, giving us a leading edge in foreign content distribution in China,” said Yang Weidong, president of Youku at Alibaba Digital Media and Entertainment Group.
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