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Battle for Fox Heats Up as Disney Boosts Offer

Disney has now outbid Comcast
By Evann Gastaldo,  Newser Staff
Posted Jun 20, 2018 11:05 AM CDT
Battle for Fox Heats Up as Disney Boosts Offer
In this Aug. 8, 2017, file photo, the Walt Disney Company logo appears on a screen above the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – After Comcast challenged Disney by offering $65 billion for 21st Century Fox, Disney is challenging Comcast right back. Disney had initially offered $52.4 billion in stock for Fox's entertainment businesses, and on Wednesday it increased its bid to $70.3 billion, composed of half stock and half cash, the Wall Street Journal reports. Comcast's bid is all cash. One analyst tells the AP the bidding war could reach between $75 billion and $80 billion; CNNMoney noted earlier this week that if Comcast wins, it will become the second most indebted company in the world by dollars. (Read more Disney stories.)

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