Walt Disney Co. officially raised their offer to purchase a hefty portion of 21st Century Fox Wednesday morning, outbidding their competition, Comcast Corp.
The $70 billion half-cash, half-stock offer from Disney is a raise from their December offer of $52.4 million in stock and outpaces Comcast’s offer of $65 billion in cash.
With Rupert Murdoch’s Fox providing all sorts of content from cable, to streaming services, to movies, there has been much confusion over what exactly Disney is purchasing. Here are the facts.
For one, here are the services Disney would receive:
U.S. Cable network - FX
Regional U.S. sport channels
Fox’s one-third stake in Hulu
Don’t worry, the deal does NOT include Fox News. Murdoch will also keep FS1 and the Fox broadcast network television stations.
The Justice Department would still have to sign off the deal -- which is promising, especially considering that a judge allowed AT&T to follow through with their purchase of Times Warner Inc. last week.
Disney Chief Executive Bob Iger said he and Murdoch have been working with regulators regarding the approval of a potential deal for over six months.