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Disney ups its bid for Fox to counter Comcast

Published: Updated:

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.