Comcast Smashes Disney's Offer For Fox

by: James A. Barnes

Variety reports that Comcast has officially offered $65 Billion in cash to purchase Fox’s assets. This bid tops Disney’s offer of $52.4 Billion. 

The Fox executives are meeting with their investors on July 10th to discuss the sale. As part of the Disney proposal deal, Fox would have to pay a fee of $1.52B if they break the deal with Disney for any reason not related to a regulatory block of the transaction. Comcast has offered to reimburse Fox if they decide to take Comcast’s offer. 

If Disney manages to seal the deal on purchasing Fox’s assets, it would be a great addition to some of Disney’s major acquisitions in past years. In 2009 Disney purchased Marvel Entertainment for $4B, as well as Lucasfilm for $4B. Disney also acquired BAMTech, a video streaming service meant to be the base of Disney’s upcoming streaming service. 

The only question that remains is, will Disney offer an even higher bid for Fox? We will have to wait and see. Make sure you stay tuned to Careful 4 Spoilers for updates!