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Disney Increased Its Fox Bid To Help Fend Off Comcast
The entertainment world is a fascinating place at the moment. While audiences are eager for more content, there is a major deal looming above three major entities. Both Disney and Comcast are attempting to acquire 20th Century Fox, and its various TV and film properties. While Disney put an offer down six months ago for $52.4 billion dollars in stocks, Comcast rocked the boat last week by upping the ante with a $65 billion cash bid. But it should come to no surprise that the House of Mouse is doubling down on its efforts, as the studio has now increased its price to $71.3 billion, with a mixture in cash and stocks.
News of Disney's new price seemingly starts an all-out bidding war for 20th Century Fox, and all eyes will be on Comcast for a possible another offer. This may shock some casual moviegoers, as Disney's acquisition seemed all but certain in the months since the offer was made. But Comcast is in the race, meaning that Disney might not be able to properties like the X-Men and Fox Searchlight. Cue Disney's new bid, which is 10% higher than that of its competitor. Fox's planned July 10th meeting to decide on the Disney offer has also reportedly been postponed.
Disney's new price, which comes to us from Deadline, is particularly fascinating because its comprised of both stocks and cash. There are pros and cons to cash vs stocks, with Disney offering a mixture of both. While Comcast is offering a cash sum, it would also be heavily taxed. In comparison, Disney's stocks won't be, although they'll have to be monitored for their value in the market.
Comcast and Disney both offer a very different set of consequences with their possible acquisition of 20th Century Fox. If Disney were to buy 20th Century Fox, the implications would be pretty fascinating. CinemaBlend readers have been mostly focused on the ability to bring characters like the X-Men and Fantastic Four into the Marvel Cinematic Universe. Despite all being Marvel characters, Fox got the rights to certain heroes before the MCU was even in existence.
Disney's possible acquisition of 20th Century Fox would also put the House of Mouse in a better position come Awards Season. While Disney is a behemoth money making machine, ceremonis like the Academy Awards typically don't favor blockbusters. But Fox also includes Fox Searchlight, which produces challenging Oscar-bait films that are consistently awarded. Recent Searchlight releases include The Shape of Water, Three Billboards Outside Ebbing, Missouri, and Jackie.
Of course, Comcast has its own set of goals in mind, no doubt including Fox's shares in Hulu and networks like FX. We'll just have to wait and see if Comcast and Disney continue battling over the rights to 20th Century Fox. But in the wake of the recent merger of AT&T and Time Warner, anything is possible.
CinemaBlend will keep you updated on all the latest regarding 20th Century Fox's bidding war. In the meantime, check out our 2018 release list to plan your next trip to the movies.
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