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Disney increases bid to acquire 21st Century Fox to $71.3 billion

Back in December, Disney had announced their plans to acquire 21st Century Fox for $52.4 billion USD. But recently, Comcast (who owns NBCUniversal) announced their offer to buy Fox for $65 billion in all-cash.

Now, Disney has increased their offer to acquire Fox for $71.3 billion USD.

The deal will include

  • Twentieth Century Fox
  • Fox Searchlight Pictures
  • Fox 2000 Pictures
  • FX Productions
  • Fox21
  • FX Networks
  • Fox Sports Regional Networks
  • Fox Network Group International
  • Star India
  • Tata Sky

Disney would also gain Fox’s 30% stake in Hulu, to now make it 60%. Hulu is a conglomerate and is also owned by Comcast (30%) and WarnerMedia (10%), formerly known as Time Warner.

Once the deal is complete, Fox’s remaining assets would be spun-off into something called New Fox, which is composed of Fox News, Fox Business Network, FS1, FS2 and Big Ten Network.

Shareholders of 21st Century Fox would receive $38 in either Disney cash or stock per Fox share.

Disney’s offer for Fox is 50% cash and 50% stock and would assume Fox’s debt of $13.7 billion.

“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”

The Disney-Fox transaction is subject to approval by Disney and 21st Century Fox’s shareholders, which were set to have meetings on July 10th but now scheduled for a later date.

Source: Disney

By Sachin Bahal

Sachin is the editor-in-chief of TheCanadianTechie, a site he started in 2012 to become the ultimate, independent source for tech enthusiasts or “techies”. He is a versatile writer with a passion for technology and loves to write about gaming, entertainment, tech and more.

4 replies on “Disney increases bid to acquire 21st Century Fox to $71.3 billion”

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