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Comcast Drops Bid for Twenty-First Century Fox

Comcast_LogoAccording to CNNMoney, Comcast will drop its pursuit of Twenty-First Century Fox Inc. (21CF) assets. The withdrawal follows last month’s most recent bid from Disney for $71.3 billion.

Comcast and Disney have been in an ongoing bid war for 21CF assets. Last month, Comcast set a terms of proposal to acquire the businesses that 21CF agreed to sell to Disney in December. The proposal reflected a $65 billion equity, which represented 19 percent of the value of Disney’s all-stock $52.5 billion offer. Read the rest of this entry »

Disney Raises Bid to $71.3 Billion for Twenty-First Century Fox Assets

Disney_FOXAccording to a CNBC report, The Walt Disney Co. raised its offer for Twenty-First Century Fox (21CF)’s movie and TV assets to $71.3 billion. The new bid is for $38.00 a share, which rivals last week’s offer from Comcast for an all-cash $35.00 a share.

Disney and 21CF entered into a definitive agreement in December for Disney to acquire 21CF, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock.

Read the rest of this entry »

Comcast Makes $65 Billion Proposal to Acquire Twenty-First Century Fox

Comcast_LogoComcast Corp. delivered a letter to the Board of Directors of Twenty-First Century Fox Inc. (21CF) setting terms of a proposal for Comcast to acquire the businesses that 21CF has already agreed to sell to The Walt Disney Co. The proposal reflects a $65 billion equity value, or $35.00 per share in cash, which represents approximately 19 percent to the value of Disney’s all-stock offer.

The Walt Disney Co. and 21CF entered into a definitive agreement in December for Disney to acquire 21 CF, including the Twentieth Century Fox film and TV studios, along with cable and international TV businesses, for approximately $52.4 billion in stock.

21CF’s vote on the Disney merger proposal is scheduled for July 10.

Uday Shankar Named President of 21st Century Fox, Asia

UdayShankar21st Century Fox promoted Star India chairman and CEO Uday Shankar to president of 21st Century Fox, Asia, effective immediately.
In his new role, Shankar will lead 21st Century Fox’s (21CF) video businesses across all of Asia, including Star India and Fox Networks Group, and work closely with 21CF leadership on key strategic initiatives in the region. He will continue to serve as Chairman and CEO for Star Indiaand digital video platform Hotstar. Read the rest of this entry »

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