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The Mouse Chases The Fox: Disney Makes $71B Counteroffer
AppleMagazine
|June 22, 2018
The Mouse Chases The Fox: Disney Makes $71B Counteroffer.
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The mouse is chasing the fox.
Disney is offering more than $71 billion for Fox’s entertainment businesses in a counterbid to Comcast’s nearly $66 billion offer.
The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms. They are amassing ever more programming to better compete with technology companies such as Amazon and Netflix for viewers’ attention — and dollars. The bidding war comes after AT&T bought Time Warner for $81 billion.
Disney’s move had been expected since Comcast made its bid last week. Disney said it’s raising its offer because Fox’s value increased due to “tax reform and operating improvements.”
“After six months of integration planning we’re even more enthusiastic and confident in the strategic fit,” CEO Bob Iger said in a statement.
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