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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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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
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Wild Adventures theme park in Georgia, USA is building a new children’s area, which is set to open in March 2019.
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A unique new art gallery that is buried in a sand dune is close to completing construction on the coast of Bohai Bay in northern China.
Joanna Lumley-backed Peter Pan centre to open late 2018 in Scotland
The inspiration behind the Peter Pan story, Moat Brae House, is being fully restored and turned into the National Centre for Children’s Literature and Storytelling in Dumfries, Scotland.
AR app launched by Minneapolis Institute of Art
US art museum the Minneapolis Institute of Art (MIA) has launched a new augmented reality (AR) app that transforms the space into a giant puzzle room.
+ More news   
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Logistics and Procurement Manager
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Salary: Competitive
Job location: Goshen, New York, USA
Head of eCommerce
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
US LEGO Model Production Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
Recruitment Manager
Legoland
Salary: Competitive
Job location: Carlsbad, CA, USA
Market Research Associate
Merlin Entertainments Group
Salary: Competitive
Job location: Carlsbad, CA, USA
Technician Specialist Apprentice
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Salary: Competitive
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+ More jobs  
 


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

©Cybertrek 2018

ABOUT LEISURE MEDIA
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