Jun 20, 2018

Disney increases bid for Murdoch's Fox assets

Disney has increased its offer for 21st Century Fox to $71.3bn in cash and shares, up from an earlier $52bn offer. Disney is locked in a battle with US media conglomerate Comcast, which has offered $65bn in cash for Fox. "The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies," said Disney boss Robert Iger. The improved offer came as 21st Century Fox board was set to decide whether to back Comcast's bid for assets that include Fox's film and television studios and international businesses. Disney's latest offer is "Superior" to the proposal made by Comcast, Fox said in a statement.

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