Disney ups its bid for Fox to counter Comcast

The 21st Century Fox logo is displayed outside the News Corporation building in the Manhattan borough of New York City, New York. (Reuters)

Disney sweetened its bid for 21st Century Fox Wednesday, raising it to $71.3 bln in cash and stock to counter a rival bid from Comcast.

Disney’s amended offer of $38 per share comes a week after Comcast, the largest US cable provider and owner of NBCUniversal, bid $65 bln for prized 21st Century Fox assets being shed by Rupert Murdoch’s family empire.

Last Friday, the EU cleared US cable giant Comcast’s bid for pan-European TV group Sky, paving the way for an epic multi-billion-dollar takeover tussle with Rupert Murdoch’s 21st Century Fox.

Brussels said it had “no competition concerns” over Comcast’s $29.4-bln, bid for all of Sky, which is best known for its live coverage of English Premier League football.

Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57