Yesterday, 21st Century Fox accepted a $71.3B offer from Disney after back-and-forth bidding between Comcast and Disney.
Disney shelled out $18.9B more than its original offer in the hopes of ending this bidding war — and reclaiming its tiara from entertainment’s recently crowned princess, Netflix. But Comcast could still make a counteroffer…
A fight to face off against Netflix in the finals
Last week the ’Cast swooped in on Disney’s original December offer with an increased $65B bid. Both companies want Fox’s content (movies, TV shows, and channels) to compete with tech companies investing oodles of cash in original content.
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It ain’t over till the Murdoch sings
Fox called Disney’s proposal “superior” to Comcast’s — and Disney claims its horizontal merger (two media companies) has an advantage over Comcast’s vertical merger (a distributor and a media company).
But AT&T’s union with Time Warner was a huge win for vertical mergers, positioning Comcast to make an even higher offer — and some analysts are convinced it could top $80B.
Tune in next week for the next episode of “It’s Always Sunny for Rupert.”