Just a day after a U.S. District Judge approved the upcoming merger between AT&T and Time Warner, Comcast has submitted a bid for 21st Century Fox's TV and film assets, reports CNBC.
Comcast has presented Fox with an all-cash offer at $35 per share for a total of $65 billion, which beats out Disney's stock-based $52.4 billion deal. 21st Century Fox has already moved forward on a deal with Disney, but Comcast is aiming to change the minds of Fox's board members. From the letter sent to Fox's board by Brian Roberts, Comcast CEO.
Both Disney and Comcast are interested in Fox's assets to expand their reach beyond the United States and to stock their streaming catalogs with Fox content, which includes movies like Avatar, X-Men, Fantastic Four, Deadpool, The Grand Budapest Hotel, Titanic, Miracle on 34th Street, The Shape of Water, and Gone Girl.
Comcast has presented Fox with an all-cash offer at $35 per share for a total of $65 billion, which beats out Disney's stock-based $52.4 billion deal. 21st Century Fox has already moved forward on a deal with Disney, but Comcast is aiming to change the minds of Fox's board members. From the letter sent to Fox's board by Brian Roberts, Comcast CEO.
So, we were disappointed when 21CF decided to enter into a transaction with The Walt Disney Company, even though we had offered a meaningfully higher price. We have reviewed the publicly available terms of the proposed Disney transaction, as well as the joint proxy statement/prospectus filed with the SEC describing the reasons for the 21CF Board of Directors' decision.Comcast first announced its plans to make a bid on 20th Century Fox, 20th Century Fox Television, several Fox-owned cable channels, and a stake in Hulu back in May, but the company was waiting on a final antitrust ruling in the AT&T/Time Warner merger. It was believed that if the ruling had not been in AT&T's favor, that Comcast would have backed off of its efforts to outbid Disney.
In light of yesterday's decision in the AT&T/Time Warner case, the limited time prior to your shareholders' meeting, and our strong continued interest, we are pleased to present a new, all-cash proposal that fully addresses the Board's stated concerns with our prior proposal.
Our new proposal offers 21CF shareholders $35.00 per share in cash and 100% of the shares of New Fox after giving effect to its proposed spinoff, providing superior and more certain value as compared to Disney's all-stock offer.
Both Disney and Comcast are interested in Fox's assets to expand their reach beyond the United States and to stock their streaming catalogs with Fox content, which includes movies like Avatar, X-Men, Fantastic Four, Deadpool, The Grand Budapest Hotel, Titanic, Miracle on 34th Street, The Shape of Water, and Gone Girl.
74 comments
Apple today confirmed it has removed "many" illegal gambling apps, and developers distributing them, from its App Store in China.
The Wall Street Journal:"Gambling apps are illegal...
Motorola's latest P30 smartphone is making headlines this week, but not for an impressive feature set or a unique design. As it turns out, Motorola has opted to copy the design of the iPhone X,...
In a statement, Apple has confirmed that no personal data was compromised by a 16-year-old student from Melbourne, Australia who admitted to hacking into Apple's internal servers on multiple...
Apple will launch its much-rumored "entry-level" MacBook in September, according to a report by DigiTimes outlining Apple's upcoming product launches. The website says the new MacBook...
Twitter's API changes went live today, disabling key features for third-party apps like Tweetbot and Twitterific.
The new API removes timeline streaming, preventing third-party apps from...
Verizon and Apple last week announced a partnership that provides six free months of Apple Music service to new and existing customers with a Verizon Unlimited plan, and as of today, Verizon...
Apple's second-generation iPhone X, and a widely expected 6.5-inch model dubbed the iPhone X Plus, will both be compatible with the Apple Pencil, according to Taiwanese publication Economic Daily...
Apple today seeded the eighth beta of an upcoming iOS 12 update to developers for testing purposes, just a few days after seeding the seventh beta and more than two months after introducing the new...
