The bidding war between Disney and Comcast over the back catalogue of 20th/21st Century Fox is heating up.
As part of the offer Disney is offering $38 per share in cash and stock, while taking on $13.8B of Fox’s net debt. This increases the total deal to a whopping $85.1 billion!
Disney CEO Bob Iger, said:
“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox.”
He added: “At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”
Your move, Comcast.