Disney Has Now Outbid Comcast With A Massive $71.3 Billion Offer For 21st Century Fox's Assets
We found out yesterday that Disney was expected to make another bid for Fox's assets, & news has just broke that the House of Mouse has now topped Comcast's most recent offer with a whopping $71.3 Billion.
It looks like Comcast is going to have to max out its credit card if it hopes to compete with the Mouse House!
Reports are coming in that The Walt Disney Company has signed an amended acquisition agreement with 21st Century Fox for $71.3 billion in cash and stock, topping Comcast's most recent offer of $65 billion.
Here's a statement from Disney's Chairman and Chief Executive Officer Bob Iger:
“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox. At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”
So, in layman's terms, Marvel would get The X-Men and Fantastic Four back.
In all seriousness, this doesn't mean that Disney has secured those assets by a long shot, as Comcast seems just as determined to nab them, and the final decision obviously lies with Fox.
There's a possibility we could hear more on this later today, so keep an eye on CBM for updates.
About The Author:
Mark Cassidy is a writer, photographer, amateur filmmaker, and Rotten Tomatoes-approved critic from Dublin, Ireland.