UNITED NEWS INTERNATIONAL (UNI) – Disney offered a counterbid of $71.3 billion to buy 21st Century Fox following an offer from Comcast last week.
Comcast announced an all-cash offer worth $65 billion June 13.
However, the latest cash and stock offer from Disney is around $5 billion more.
In a statement on June 20, Disney said it is raising its offer because Fox’s value increased due to “tax reform and operating improvements.”
Fox says the new Disney offer is “superior” to the Comcast proposal.
The deal will reportedly include Fox film and TV studios. However, it will not include Fox News channel or the Fox Television Network.
Meanwhile, Comcast is also battling it out with Fox to take over U.K.-based satellite and internet provider Sky. The U.S. companies have been chasing approval from U.K. regulators to takeover Sky since 2016 and were given the green light in May.