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Comcast bid rejected as Fox agrees new merger deal with Disney
POSTED 21 Jun 2018 . BY Tom Anstey
The Disney/Fox merger is back on, after Fox accepted a larger Disney offer days after Comcast attempted to hijack the deal.

Under the amended acquisition agreement, Disney will buy Fox for US$71.3bn in cash and stock – an increase from Disney's initial US$52.4bn stock offer and Comcast's US$65bn cash offer.

"The amended and restated Disney Merger Agreement offers a package of consideration, flexibility, and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018," said a Fox statement.

The new offer from Disney includes US$35.7bn in cash, with the remainder in stock. The new agreement has been approved by both companies' boards, but will still need to be ratified by their shareholders.

"Disney believes the transaction has a clear and timely path to regulatory approval," Disney's announcement said. "Both companies have spent the past six months working toward meeting all conditions necessary for closing. In the amended agreement, Disney has increased the scope of its commitment to take actions required to secure regulatory approval."

Initially announced in December last year, Disney and Fox reached a deal for Disney to acquire Twentieth Century Fox Film and Television studios, along with Fox's cable and international TV businesses.

The Fox acquisition will see Disney acquire a huge media library and the distribution rights to the first Star Wars film and the film rights to the Fantastic Four and X-Men franchises – two IPs not obtained through its previous multi-billion-dollar acquisitions of Lucasfilm and Marvel.

The move will have significant impact on the theme park industry, with Disney likely planning to bring its new Fox IPs to its parks. Comcast owns Universal, which it would almost certainly have wanted to bring the Fox library to its parks instead.
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Jobs . News . Products . Magazine
NEWS
Comcast bid rejected as Fox agrees new merger deal with Disney
POSTED 21 Jun 2018 . BY Tom Anstey
The Disney/Fox merger is back on, after Fox accepted a larger Disney offer days after Comcast attempted to hijack the deal.

Under the amended acquisition agreement, Disney will buy Fox for US$71.3bn in cash and stock – an increase from Disney's initial US$52.4bn stock offer and Comcast's US$65bn cash offer.

"The amended and restated Disney Merger Agreement offers a package of consideration, flexibility, and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018," said a Fox statement.

The new offer from Disney includes US$35.7bn in cash, with the remainder in stock. The new agreement has been approved by both companies' boards, but will still need to be ratified by their shareholders.

"Disney believes the transaction has a clear and timely path to regulatory approval," Disney's announcement said. "Both companies have spent the past six months working toward meeting all conditions necessary for closing. In the amended agreement, Disney has increased the scope of its commitment to take actions required to secure regulatory approval."

Initially announced in December last year, Disney and Fox reached a deal for Disney to acquire Twentieth Century Fox Film and Television studios, along with Fox's cable and international TV businesses.

The Fox acquisition will see Disney acquire a huge media library and the distribution rights to the first Star Wars film and the film rights to the Fantastic Four and X-Men franchises – two IPs not obtained through its previous multi-billion-dollar acquisitions of Lucasfilm and Marvel.

The move will have significant impact on the theme park industry, with Disney likely planning to bring its new Fox IPs to its parks. Comcast owns Universal, which it would almost certainly have wanted to bring the Fox library to its parks instead.
RELATED STORIES
Comcast potentially hijacking Disney's Fox deal with new bid


Disney's acquisition of Fox is in jeopardy, after Comcast confirmed plans to top Disney's US$52.4bn (€44.27bn, £39bn) offer for the company.
Comcast focusing Universal investments into theme park division


Comcast has said that it expects capital spending to increase at NBCUniversal through 2018, with the majority of investment directed towards its booming theme parks division.
MORE NEWS
Flinstones theme park closes after nearly half a century
Bedrock City, a Flintstones-themed roadside attraction in Arizona, US, has closed after nearly 50 years, and is to be replaced by a showcase for falconry called Raptor Ranch.
Vancouver cetacean ban order upheld as aquarium challenges city parks board
A legal dispute between Vancouver Aquarium in Canada and the Vancouver Board of Parks and Recreation regarding the keeping of cetaceans (whales and dolphins) is set to rumble on, after an appeal court decision this week.
Melike Altinisik Architects chosen to create self-constructing robot museum in South Korea
Turkish design bureau Melike Altinisik Architects (MAA) have been selected to build a museum of robotics with components that "construct themselves".
London’s National Gallery aims for US retail expansion
London's National Gallery is attempting to crack the US market, appointing a licensing agency to develop a multi-tiered retail strategy for the institution.
+ More news   
LATEST JOBS
Active Outdoors Assistant
National Trust
Salary: £8.46 per hour
Job location: Ulverston, UK
Group Travel Trade Manager
The Royal Mint
Salary: Competitive Salary and Benefits
Job location: Llantrisant, Pontyclun, UK
Commercial Operations Director
The National Museum of the Royal Navy
Salary: £60,000 circa per annum
Job location: Portsmouth, UK
Theme Park Resort Duty Managers
Gulliver's Theme Park
Salary: Competitive Salary and Benefits
Job location: Rother Valley, Rotherham, South Yorkshire, UK
Trainee Manager Programme
Gulliver's Theme Park
Salary: Competitive Salary and Benefits
Job location: South Yorkshire, UK
Restaurant and Bar Team Leader
Alton Towers Theme Park
Salary: Competitive
Job location: Stoke-on-Trent, UK
+ More jobs  
 


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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
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