In 2017, Disney announced that it would acquire Fox. Later on, Comcast followed with a deal worth $65 million that would purchase the entire Fox Inc, including its assets. The deal turn-taking has now turned into a war between both companies, Disney Co and Comcast, which each bringing to the table different terms. Despite this wars, Fox Inc is focusing on developing its business in the television networks. Both bids are valuable and below is a closer look at what each company brings to the table.
Walt Disney’s Deal
Walt Disney initially negotiated for a deal to acquire Fox Inc stocks at $52.4 billion. Under this contract, the expected acquisition would consist of a takeover of Fox Networks Group, Twentieth-Century Fox films studio, fox sports regional networks, the Indian satellite television group, Sky Plc and stakes in a national geographic partnership. The deal is expected to close in 2019, circulating rumors of Comcast dropping its deal, which however is not the case.
Comcast extended a surprisingly $65 billion in cash in the bid to acquire Fox Inc. Fox promised to review the Comcast deal, which most people think is a response to Comcast’s 2004 failure to acquire Disney. The deal, which comes immediately after federal judges approved the AT&T Inc (NYSE:T)-TIME WARNER Inc (NYSE:TWX) merger.
Comcast had told Wallstreet that it would wait till AT&T’s successful merger to make a move towards Fox Inc. There has been rumors that despite the long waiting for the merger hearing Comcast had still been making progress to arrange the all-cash deal with Fox.
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The companies proposed to Fox whether it would be possible for it to come up with a new franchise dubbed New Fox that should keep ownership of the 28 Fox Television stations as well. Fox believes Disney’s deal is okay, the Fox president, Peter Rice, announced their contentment with Disney’s deal challenging any need to sign another pact with Comcast.