By: Amy Kawa
21st Century Fox has agreed to an improved offer from the Walt Disney Co. worth $38 a share, up from $28 a share which the parties originally agreed upon in December. Comcast had previously tried to out-bid Disney for Fox in recent weeks. The new offer from Disney is valued at $71.3 billion and is a 50/50 stock and cash split according to the Wall Street Journal. Comcast simply does not have the assets to make a serious competing offer.
Fox shareholders still have to meet and vote on the bid before the deal is official. The meeting is set for July 27, 2018.