Disney Wins Approval to Buy 21st Century Fox Assets
Disney won approval for its $71.3 billion bid to buy 21st Century Fox assets on the condition that it sells off Fox's local sports networks, the Justice Department said on Wednesday.
The news came after reports that Comcast is reportedly considering strategic partnerships with other companies or private equity firms in order to outbid Disney, according to the Wall Street Journal. While no immediate plans are in the works, the Journal said Comcast could turn to these options, if bidding for Fox got into the $90 billion range.
Fox announced last week it agreed to Disney's offer, which the company was forced to raise from its original $52.4 billion bid made last December. The increase came after Comcast put in a competing all-cash $65 billion offer in the wake of a judge's approval of AT&T's acquisition of Time Warner earlier this month.
Both media giants are looking for new revenue streams amid increasing competition from streaming companies like Netflix and Hulu.
One potential strategy for Comcast, according to the Journal, would be for a partner to take Fox's U.S. properties ー ie, its movie and TV studios and regional sports networks ー while Comcast gets the international assets, including Britain's Sky and Star India.
It's unclear when and if Comcast will make a move, though, as Disney and Fox postponed a shareholder vote on their deal originally scheduled for July 10. Potential partners were also not disclosed.
The DoJ is only one of the many regulators Disney needs to appease to get final approval for its deal.
Holiday shopping heats up as big-box earnings reveal how Walmart, Target & Home Depot are navigating consumer pressure, strategy shifts and trends shaping 2025.
The Campbell’s Co. said Tuesday it has placed one of its executives on leave while it investigates claims that he made racist comments and mocked the company’s products and customers in an audio recording.
Elon Musk’s X unveiled a feature that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts, often posting in support of the U.S. MAGA movement with thousands or hundreds of thousands of followers, are based outside the U.S. This raises concerns about foreign influence in U.S. politics.
The Enhanced Games is going public in two ways — with a new listing on the Nadsaq stock exchange and also by offering a direct-to-consumer business focused on performance products.
Real estate software company RealPage has agreed to stop sharing nonpublic information between landlords as part of a settlement with the Department of Justice.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.
AI, BNPL and new digital tools are reshaping holiday shopping. PayPal’s Michelle Gill shares survey insights, tech trends, and tips for smarter spending in 2025
'The Chair Company' blends sharp satire with workplace conspiracy. Lake Bell joins us to talk its corporate themes, quirky characters, and why viewers love it!
