In a new twist, Disney raises its bid for Fox to $71.3 billion to surpass Comcast

In a surprising new development, Disney has raised its bid for Fox to a whopping $71.3 billion, up from its previous $52 billion. What’s more is that this comfortably surpasses Comcast’s bid which was at $65 billion.

However the terms of the new bid from Disney are different from those of its previous one. While the last offer was $52 billion in stock, the new one is a 50/50 split between cash and stock. This bid puts Disney back in the front in the race to acquire Fox. Also in the race for Fox is the media titan Comcast, which offered a mind-boggling $65 billion in cash. The assets that are up for grabs in this bidding war include Fox’s film and television assets, including Twentieth Century Fox, Fox Searchlight Pictures, FX Productions, National Geographic Partners and a majority stake in the streaming service Hulu.

Disney seems to be the clear frontrunner in this tug of war for Fox. But if the last few months have indicated anything, it is that nothing is final, atleast not yet. It is considered highly unlikely that Comcast will back out of this bidding war anytime soon and that it would soon counter Disney’s offer with an even larger one. While it is certain that Comcast definitely has the resources required to gain the upper hand, it however, remains to be seen if Comcast will raise its bid further.