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)

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. (More Disney stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.