Disney to Acquire 21st Century Fox as Comcast Gives Up Bidding War

Earlier this month, Disney raised their offer to $71.3B for 21st Century Fox which the company accepted. It was expected that Comcast would continue to engage in a bidding war, but this morning the cable giant put up the white flag.

After a months long bidding war, Comcast has given up on their bid for 21st Century Fox and instead will focus their efforts on acquiring UK-based Sky.

The deal will leave Disney as the owner of 21st Century Fox which would also make them the majority shareholder of streaming service Hulu. The final $71.3B deal — 50% in cash and 50% in stock — surpassed Disney’s original offer of $52.4B and Comcast’s $65B counteroffer last month.

The deal includes:

  • 20th Century Fox
  • 20th Century Fox Television
  • FX Networks
  • National Geographic
  • Fox Regional Sports Networks
  • 30% Stake in Hulu
  • Stake in international networks Sky and Star TV.

The deal is expected to be approved, so long as Disney divests Fox Regional Sports Networks which could fetch as much as $25B.