Jun 13, 2018

Comcast bids for Murdoch's Fox assets in Disney challenge

The US media conglomerate, has submitted another offer to buy parts of 21st Century Fox, after getting rebuffed last year in favour of Disney. The bid is a challenge to Disney, which announced in December that it would take over those assets in a stock transaction then valued at $52.4bn, or more than $66bn including debt. The deal, described by the two companies as a merger, was set to give Fox shareholders a roughly 25% stake in Disney. Fox, which is led by Rupert Murdoch and his sons, rejected an offer from Comcast last year, citing concerns that antitrust officials would oppose a deal. Under the Disney proposal, Fox would retain its news and sports businesses, including Fox News.

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