Fox To Decide on Disney Deal July 10, Could Still be Swayed By Comcast Bid

Twenty-First Century Fox could be making its final decision on the offer made by The Walt Disney Company on July 10th. In December, Disney offered stock worth $52.4 billion to buy Fox’s television, film, and international assets. Previously, Comcast had made an offer in November to also purchase Fox with stock, and the equivalent was higher than that of Disney’s offerings at $64 billion. Disney’s offer was agreed upon, though, but Comcast wasn’t giving up easily. Comcast is now planning to offer an all-cash bid to acquire certain assets of the company.

The July 10th date could be changed, though, if Comcast approaches with a bid worth considering. In the announcement made by Fox, the counter-offer being made by Comcast was acknowledged and stated that if it were to happen before the agreed-upon date, the meeting would either be adjourned or postponed to allow reasonable time to make a full review of the offer before making their final decision between the two.

In April, we told you that the Fox-Disney deal is expected to close by 2019. If the shareholders vote in favor of Disney’s bid, the chances of a 2019 final date is still looking good. Disney will acquire the 20th Century Fox Television studio, 20th Century Fox movie studio, and FX Networks. The remaining assets, namely Fox Broadcasting Company, Fox Sports and Fox News, will form a new company. Disney will lease office space on the Fox lot for seven years after the acquisition as they transition employees and other assets to the Walt Disney lot. The move should be a painless one for employees moving over and an exciting one for the current employees, as this merger will be a rebirth of focus for the company.

Of course, back in December, we thought the decision between Disney and Fox was a done deal and an announcement was set to be made. It didn’t seem like there would be anything to sway the new partnership. With the idea of an all-cash bid by Comcast, though, and the possibility of postponing the new July 10th date for stockholders, it seems as if the bid by Comcast will be taken seriously and Disney may possibly lose out.

 

 

SOURCE: Deadline

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Ryan
Ryan
2 years ago

Disney is doing terribly to be honest. I mean….I love the message, and theme parks have some great points about them, but Disney has gone for cheap money makers, than anything of substance anymore. I hope Comcast gets Fox. They are more visioned for the future, and “legacy”. They are what Disney used to be. It’s hard to visit WDW in Orlando and say Disney is trying for much, except to get as many long lines as possible, sell, and cross promote other activities, with as little cost or effort on their part as possible.

Jeff
Jeff
2 years ago
Reply to  Ryan

Yawn……thanks for those cutting insights Ryan.

Matt
Matt
2 years ago
Reply to  Jeff

Agreed, first of all Comcast Buying Fox would be horrible all around. Comcast owns Universal Studios. which means for one, Disney could possibly lose non IPs, like Avatar. Comcast has known to be a bully therefore its not unheard of that Comcast can pull a Fox IP from another park. Also it would be horrible for several IPs that Disney does own that they dont own all of. namely the original Star Wars Triology. The rest of the Marvel Brand. Disney has gone to great lengths under Bob Iger to assure a place in the future. more so then short… Read more »

Dr. Steve
Dr. Steve
2 years ago
Reply to  Matt

But see, that’s the problem. Disney used to be able to stand on its own two feet as a leader in the creative/entertainment community. Now it needs the support of Pixar, Marvel, and Star Wars to keep its “brand” relevant. That is all Iger’s doing. He now wants Fox to come in and “be” Disney too. The man is power-hungry, greedy as all get out, and just a blight on the Mouse House. I am sad this Fox merger might go through because it just means his tenure will be extended. All Iger cares about/wants is more money. They currently… Read more »

Linda
Linda
2 years ago
Reply to  Dr. Steve

100% agree with Dr. Steve. Bob Iger has no vision. Only a bean counter. He hates guests, movies, but love him some money. DIS stock in the toilet. Management to blame.

The Donald
The Donald
2 years ago
Reply to  Matt

Comcast buying Fox would be better for Disney. Disney needs to lose lots of IP and drain the swamp. Eisner was also much better for Disney than Iger ever was. Eisner did a lot of good during his time with Disney even if his last few years were bad. Disney would be much better off losing Marvel, Lucasfilm and even Pixar being left with only the animation studios, Walt Disney Pictures, Touchstone, the parks, the cruise line, and the Disney branded channels. Second of all the government has already blocked Disney from buying Fox and don’t be surprised when they… Read more »

LK
LK
2 years ago
Reply to  The Donald

I agree totally. Well researched! I think Disney will get it, but they’ll strip it of creativity, and make it squeeze a few bucks, and then they’ll it will be road kill. As ESPN is. And the Disney Parks are becoming, sadly.

LKatz
LKatz
2 years ago
Reply to  Jeff

And what a useless post as always from Jeff. Double Yawn. If you can’t say anything to add to the discussion, turn off your computer and step in front of a Disney Bus.