FOX has accepted a $71.3 billion bid from Disney, which tops Comcast’s previous offer of $65 billion. Disney went all in to ensure Comcast didn’t steal FOX’s assets out from under them, including Marvel assets like The X-Men and Fantastic Four.
That easily trumps Comcast’s all-cash offer made on June 13th. The new Disney-FOX deal is reportedly worth $38 per share in cash and stock.
It was in October of 2016 that a report surfaced that AT&T was attempting to acquire Time Warner. The deal would give AT&T significant holdings in the media industry. The following February Time Warner shareholders approved the merger. This was quickly followed by FCC Chairman Ajit Pai refusing to review the deal. That left it in the hands of the Justice Department. Every other country involved has since approved the merger. It was only the U.S. that kept it from being final.
President Trump’s Justice Department filed an anti-trust lawsuit last year in November. That pushed the merger deadline till the 21st of this month. Today a judge stepped into the fray and approved the merger.