Turns Out Disney Might Not Buy Fox After All

Anna Jefferson
May 10, 2018

Fox is in the final stages of a bid to buy the 61 percent of the United Kingdom broadcaster it does not already own but at 10.75 pounds a share compared with Comcast's 12.50 pounds has so far made the lower offer.

In December, 21st Century Fox agreed to sell to Disney a large package of...

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Comcast offered to acquire Fox's assets in an all-stock deal worth $64 billion, but likely for fear of anti-trust roadblocks, Fox went with Disney.

Some of the leading companies and disruptors in movies and television, like Netflix and Amazon, have introduced a new vertical business model that Comcast and Disney are desperate to acquire for themselves - the ability to create and delivery their products directly to the consumer. Earlier this year, Comcast, who already own NBC and Universal Studios, made their intentions known that they were planning an effort to outbid the House of Mouse for Fox, even though Fox had already denied Comcast's offer in favor of Disney's. By purchasing most of their film and TV outlets - including channels like Fox Sports and FX, and franchises like the X-Men and Avatar movies - Disney would become arguably the dominant force in American and global media.

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But now that Comcast is reportedly interested, this could change. While Disney and Fox's respective boards of directors approved the deal, it hasn't gone through yet. The 21st Century Fox intellectual property would add to the exclusive content on that video streaming service.

Part of the back and forth for 21st Century Fox and its assets is because of the animosity between Comcast CEO Brian Roberts and Disney CEO Bob Iger.

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Disney in March announced a reorganization that positions two top executives as potential successors to Mr. Iger: Kevin Mayer, who was named chairman of a new direct-to-consumer and worldwide segment, and parks chief Robert Chapek, who added consumer products to his portfolio. The U.S. Department of Justice has opposed the AT&T-Time Warner deal over antitrust concerns, and a decision from U.S. District Court Judge Richard Leon is expected in June. There is also nothing stopping Disney from going to investment banks to up their bid for 21st Century Fox.

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