TwitterFacebookPinterestGoogle+

Comcast Challenges Disney with $65B Bid for Fox

NEW YORK (AP) — Comcast made a $65 billion bid Wednesday for Fox’s entertainment businesses, setting up a battle with Disney to become the next mega-media company.

The bid comes just a day after a federal judge cleared AT&T’s takeover of Time Warner and rejected the government’s argument that it would hurt competition in cable and satellite TV and jack up costs to consumers for streaming TV and movies. The ruling signaled that Comcast could win regulatory approval, too; its bid for Fox shares many similarities with the AT&T-Time Warner deal.

Comcast says its cash bid is 19 percent higher than the value of Disney offer as of Wednesday. The Wall Street Journal and others reported earlier that Comcast had lined up $60 billion in cash to challenge Disney for media mogul Rupert Murdoch’s company. Disney’s offer was for $52.5 billion when it was made in December, though the final value will depend on the stock price at the closing.

“This is a golden offer that will put considerable pressure on (Disney CEO Bob) Iger and Disney to step up their game on another bid,” GBH Insights analyst Dan Ives said. “This is even higher than the Street thought, which speaks to Comcast really wanting these key assets.”

The battle for Twenty-First Century Fox comes as traditional entertainment companies try to amass more content to compete better with technology companies such as Amazon and Netflix for viewers’ attention — and dollars.

Find out more on this story at apnews.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

VIDEO NEWS

National Politics

An error occured during creating the thumbnail.

Apollo 11 astronauts reunite on 50th anniversary of moonshot

CAPE CANAVERAL, Fla. (AP) — Apollo 11 astronauts Buzz Aldrin and Michael Collins reunited Friday…

An error occured during creating the thumbnail.

U.S. Secretary Mike Pompeo To Deliver Remarks at the 120th VFW National Convention in Orlando Monday

WASHINGTON - U.S. Secretary of State Michael R. Pompeo will deliver the keynote address at…

An error occured during creating the thumbnail.

VFW National Convention Returns to Orlando Saturday

KANSAS CITY, Mo. — Secretary of State Mike Pompeo and Veterans Affairs Secretary Robert Wilkie…

An error occured during creating the thumbnail.

Rep. Soto’s $14 Billion Medicaid Parity Bill for Puerto Rico, U.S. Territories Passes Committee, One Step Closer Towards Becoming Law

WASHINGTON (FNN NEWS) - On Wednesday, the U.S. House Committee on Energy and Commerce approved…

STATE & LOCAL POLITICS

An error occured during creating the thumbnail.

Governor Ron DeSantis Reappoints Two to the Tallahassee Community College District Board of Trustees

TALLAHASSEE, Fla. — Today, Governor Ron DeSantis announced the reappointments of Karen Moore and Eric…

An error occured during creating the thumbnail.

First Lady Casey DeSantis Holds Listening Session on Mental Health and Substance Abuse in Sanford

SANFORD, Fla. (FNN NEWS) - Today, First Lady Casey DeSantis held a listening session on mental…

An error occured during creating the thumbnail.

First Lady Casey DeSantis to Make an Announcement at the Seminole County Sheriff’s Office Thursday

SANFORD, Fla. – Florida's First Lady Casey DeSantis will make an announcement at the Seminole…

An error occured during creating the thumbnail.

Florida's First Lady Casey DeSantis to visit First Coast High School in Jacksonville Monday

JACKSONVILLE, Fla.– First Lady Casey DeSantis will visit First Coast High School on Monday, July…

FNN SPORTS

  • TORONTO (AP) — Adam Silver reveals advice he’s given to Zion Williamson

MORE SPORTS NEWS

An error occured during creating the thumbnail.

Pride Mount Comeback But Fall in Stoppage to Portland

PORTLAND, Ore. - Orlando Pride (2-9-2, 8 points) erased a two-goal deficit, including a 90th-minute equalizer,…

An error occured during creating the thumbnail.

Orlando Pride to Celebrate World Cup Champions Alex Morgan, Ali Krieger and Ashlyn Harris on Tuesday Night

ORLANDO, Fla. – After helping lead the U.S. Women’s National Team to its fourth FIFA…

An error occured during creating the thumbnail.

Joel Smeenge Named No. 24 On Jagaurs All-25

JACKSONVILLE, Fla. – Former Jaguars DE Joel Smeenge has been named No. 24 on the…

An error occured during creating the thumbnail.

Daytona International Speedway to Launch Fireworks Extravaganza on Wednesday Night

DAYTONA BEACH, Fla. – Daytona International Speedway is going to finish its Independence Day holiday…

An error occured during creating the thumbnail.

Philadelphia Union’s Explosive Plays Rout Orlando City 3-1 at Home

ORLANDO, Fla. (FNN SPORTS) - Orlando City wasted no time upon their return home against…

An error occured during creating the thumbnail.

It begins: NBA free agency finally starts Sunday

Kawhi Leonard is planning meetings in Los Angeles. Kevin Durant will do the same in…

BUSINESS NEWS

  • ORLANDO, Fla. (FNN NEWS) - Customers are Crazy for the Cow During Chick-fil-A's Cow Appreciation Day (Image: Chick-fli-A)

MORE BUSINESS NEWS

An error occured during creating the thumbnail.

Apple Announces New Batch of Emojis on World Emoji Day

Cupertino, CA (FNN NEWS) — July 17th is National Emoji Day! What better way to celebrate…

An error occured during creating the thumbnail.

Celebration is Chick-fil-A’s largest, single-day customer appreciation event

ATLANTA, Ga. – Get your cow costumes ready – Chick-fil-A is celebrating its 15th annual…

An error occured during creating the thumbnail.

[WATCH] Nourishing Biologicals Launches Four-Piece Flagship Product Line

SAINT AUGUSTINE, Fla. (FNN NEWS) – Nourishing Biologicals, a science-based skin care company created to fight and…

An error occured during creating the thumbnail.

Getting to Know Sutherlin Nissan Co-Owner “U.S. Marine”

WINTER PARK, Fla. (FNN NEWS) - “U.S. Marine,” the man who owns Sutherlin Nissan, pretty…

An error occured during creating the thumbnail.

Trump Delays Imposing Tariffs on Auto Imports and Parts

WASHINGTON (AP) — Caught in a sprawling trade dispute with U.S. rival China, President Donald…

An error occured during creating the thumbnail.

US to Add 30,000 Seasonal Worker Visas as Soon as This Week

WASHINGTON (AP) — The Trump administration plans to allow 30,000 more foreign workers temporarily into…

ENTERTAINMENT NEWS

  • NASHVILLE, Tenn. (AP) — Taylor Swift says she’s kicking off Pride Month by asking Tennessee’s Republican U.S. Sen. Lamar Alexander to protect LGBTQ rights and support the Equality Act.

MORE ENTERTAINMENT NEWS

An error occured during creating the thumbnail.

Game of Thrones cast talks divisive finale, water bottles

SAN DIEGO (AP) — “Game of Thrones” may be over but the cast can’t seem…

An error occured during creating the thumbnail.

New Orleans Brass Band The Soul Rebels Open For The Rolling Stones!

NEW ORLEANS - In true NOLA spirit, popular brass band The Soul Rebels have shown…

An error occured during creating the thumbnail.

Disney Skyliner Takes Flight Sept. 29, 2019, at Walt Disney World

ORLANDO, Fla. (FNN NEWS) - Disney Skyliner will begin carrying guests high above Walt Disney…

An error occured during creating the thumbnail.

The Super-Busy Person’s Guide to the Top 10 Summer Movies of 2019

ORLANDO (FNN NEWS) - Is the July Florida heat getting to your head? Need something…

An error occured during creating the thumbnail.

South Korea’s Top 3 Entertainment Companies Face an Intense Month of Scandals

SEOUL, South Korea (FNN NEWS) - South Korea’s top three entertainment companies, YG Entertainment, SM Entertainment,…

An error occured during creating the thumbnail.

Singer and Songwriter Darius Rucker Visits Walt Disney World Resort

ORLANDO, Fla. (FNN NEWS) - Singer and songwriter Darius Rucker poses with Woody during his visit…

LIFESTYLE, TRAVEL & TOURISM

  • This cruise line rivals Broadway with 134 shows, 50 theaters
    MIAMI, Fla. (AP) - This cruise line rivals Broadway with 134 shows, 50 theaters

MORE LIFESTYLE NEWS

An error occured during creating the thumbnail.

Disney Skyliner Takes Flight Sept. 29, 2019, at Walt Disney World

ORLANDO, Fla. (FNN NEWS) - Disney Skyliner will begin carrying guests high above Walt Disney…

An error occured during creating the thumbnail.

Before You Go: 5 Powerful Things You Must Know to Conquer College

College life can be rough, especially if you’re in a dorm or moved out on…

An error occured during creating the thumbnail.

[OPINION] Tampering with Our Food is a Crime!

Thanks to social media, it seems a new fad or trend emerges every other month.…

An error occured during creating the thumbnail.

Singer and Songwriter Darius Rucker Visits Walt Disney World Resort

ORLANDO, Fla. (FNN NEWS) - Singer and songwriter Darius Rucker poses with Woody during his visit…

An error occured during creating the thumbnail.

[OPINION] Why are We Voting on Whether LGBTQ Parents Can Adopt? Let Them.

The debate for LGBTQ+ rights rages on, and whether or not they should be able…

An error occured during creating the thumbnail.

Celebration is Chick-fil-A’s largest, single-day customer appreciation event

ATLANTA, Ga. – Get your cow costumes ready – Chick-fil-A is celebrating its 15th annual…