Disney and Comcast continue to engage in the mother of all tug-of-wars over Twenty-First Century Fox‘s movie and and TV assets. If ever there was a time for popcorn, it is now.
Disney channeled its inner Annie Oakley, and replied to Comcast’s recent bid offer by saying anything you can I can do better, raising its offer to a whopping $71.3 billion. The new bid is for $38.00 a share, which rivals Comcast’s offer for an all-cash $35.00 a share.
According to CNBC, two Fox and Disney bigwigs—Fox executive chairman Rupert Murdoch and Disney CEO Robert Iger—met on Tuesday, the night before the bid was submitted. The new bid grants Fox shareholders the ability to choose cash or stock.
While no official decision was made yet, a recent statement from Murdoch seems to show what team Fox is rooting for (Hint: the mascot is Mickey Mouse). He states that, “We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry.”
Looks like Comcast is going to have to step up their game if they stand a chance at a W, or should we say an F.
