The Walt Disney Company announced Wednesday that it was sweetening its offer for key assets of 21st Century Fox, with a new bid of $38 per share in cash and stock worth $71.3 billion.
That exceeds the $65 billion all-cash offer Comcast made on June 13 for the same movie and TV assets — as well as Disney’s own $52.4 billion initial bid from last December.
In a statement, Fox said the new Disney deal “is superior to the proposal” made by Comcast just days after a federal judge approved AT&T’s $85.4 billion acquisition of Time Warner over the antitrust objections of the Trump Justice Department.