Published: Thu, June 14, 2018
Culture&Arts | By Hattie Nash

Comcast challenges Disney with $65B bid for Fox

Comcast challenges Disney with $65B bid for Fox

Last December, Fox rejected an initial offering from Comcast and made a decision to pursue Disney's more paltry plea, as it was assumed to have been a safer bet. As reported by CNBC, the global telecommunications conglomerate was willing to offer $60B in cash for the Rupert Murdoch-founded company. Comcast bid 16 per cent more than Disney for Fox's media properties, but that offer was deemed too risky.

Comcast, which already owns NBCUniversal, is the US's largest cable company and is likely to face regulatory scrutiny should Fox consider its bid. It's a dramatic attempt to thwart Disney, which reached a $52.4 billion deal in December for the same film and TV assets.

In mid-December, The Walt Disney Company announced it would purchase 21st Century Fox, including the 20th Century Fox Film and Television studios, along with cable and global TV businesses, for $52.4 billion.

In response, Fox said it would "carefully review" Comcast's unsolicited proposal.

Johnson on top of the world after Memphis victory
Nordqvist won the 54-hole event in 2015 and 2016 on Stockton Seaview's Bay Course and finished second past year . He pushed his opening tee shot into the right rough and his approach in the rough left of the green.

The DOJ also faced harsher questioning from the judge, who came off exasperated at times during the government's arguments.

U.S. District Judge Richard Leon ruled that the combined companies do not pose a danger to consumers, a decision that amounts to a resounding win for the two companies. Prior to the deal, Fox had entertained a much higher bid from Comcast in the low $60 billion range but ultimately terminated talks early on due to antitrust concerns.

Wayne Crews of the Competitive Enterprise Institute said the government's case ignores the technology which is rapidly changing the media sector. Comcast's $35 per share offer, which represents a 19% premium on Disney's bid, could result in a result in a high-stakes bidding war for Fox's assets.

Comcast's deal is expected to be announced tomorrow.

What the document signed by Donald Trump and Kim Jong Un says
Best case scenario is the two sides start talking, North Korea decides the U.S.is no longer a threat and scales back its arsenal. At his news conference, Trump said the war games were expensive, provocative and inappropriate.

AT&T Inc won approval from a USA court on Tuesday to buy Time Warner Inc for $85 billion, without conditions, allowing AT&T to compete with internet companies that dominate digital advertising and providing new sources of revenue.

Attorneys for AT&T and Time Warner argued that it would be absurd for them to deny their shows to millions of viewers, because it would cost them millions in lost broadcast fees and advertising revenues. The question is will Disney's board and management go to the mat on this transaction?

To see how this could happen, consider that, after the merger, AT&T would have the rights to all of HBO's output, CNN, live National Basketball Association and NCAA broadcasts, and many more desirable Time Warner properties. "Barring a third entrant (Internet/tech is possible), we would see the most sensible outcome as splitting the baby, with Comcast getting Sky (which we see as its main goal) and Disney getting most of the rest". Fox has a 39 percent stake in that company and has been trying to buy outright, with the intention of selling the full company to Disney as part of that deal.

May in fresh standoff with Tory rebels over Brexit demands
The statement said: "We have not, and will not, agree to the House of Commons binding the government's hands in the negotiations". And if there is still no agreement before February 15 parliament would vote on whether to take over the Brexit process .

Like this: