Comcast Tops Disney's Offer For 21st Century Fox's Assets With A Massive $65 Billion Bid
So it begins! Once the news broke that AT&T’s proposed $85.4 billion purchase of Time Warner is was declared legal, we knew it'd only be a matter of time before Comcast swooped it, and swoop in they have.
We knew it was only a matter of time before Comcast were true to their word and put in a counter-offer for 21st Century Fox's assets, and according Deadline, today's the day.
Last night, news broke that a federal judge had determined that AT&T’s proposed $85.4 billion purchase of Time Warner was legal, which has prompted Comcast to charge in with an all-cash offer of $65 billion to acquire much of Fox’s film and television assets.
As it stands, Disney is offering $52.4 billion (all-stock), but there seems to be very good chance that this will kick-off a high-stakes bidding war between the two media rivals. According to analyst Michael Nathanson, “Disney is in a strong position to compete with a higher bid from Comcast.”
The House of Mouse reportedly has 5 days to do just that, so we'll see how things play out. In the meantime, let us know what you think of this latest development in the comments below.