Disney-Marvel-Lucasfilm-Pixar-OmniCorp SMASH Puny Comcast in Bidding War for Fox

And the XFinity War Ends with Hollywood’s Mad Titan Smiling in Victory

Well, the Mouse always wins. After a desperate attempt by Comcast last week to outbid Disney for the majority of Fox’s assets, the Wall Street Journal is reporting that Disney has (of course) successfully countered with a mic-dropping $71 billion stock + cash offer. In a press release announcing the new merger agreement, 21st Century Fox stated:

The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018...

Fox Chairman Rupert Murdoch added:

We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry. We remain convinced that the combination of 21CF's iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world.

The ink appears to be near-dry. Assuming this deal goes through, obviously Disney will become the undisputed king of Hollywood conglomerates. The House that Walt Built will acquire a most impressive new collection of IP assets, including the Avatar, Alien, and Die Hard franchises.

And, of course, yes--the X-Men and Fantastic Four will finally arrive in their Marvel Cinematic Universe homeland, as it should be.

Hey, somebody’s gotta fill in the empty spots left by all those victims of the #Snapture...

Comments
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etbass
etbass

I should have bought up Fox stock. I would imagine the prices are really up from before Disney and Comcast started battling for the property. Then sell afterwards. Disney and Comcast were both down, with investors believing that they were overpaying in their bidding war.

MistyBat
MistyBat

Neither proposed deal includes Fox News, Fox Sports 1, the Fox broadcast network or its television stations. In either scenario, those assets would be spun off into a new company, for the moment dubbed “New Fox.”~ Wall Street Journal