Disney raised its offer for 21st Century Fox’s movie and television entertainment holdings to $71.3 billion, beating out Comcast’s last-minute $65 billion offer. The bid values Fox shares at $38 each, and owners would be able to choose to keep their stocks or cash them out. Fox Executive Chairman Rupert Murdoch expressed optimism over the potential acquisition, saying “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.” The offer comes one day after several prominent entertainers who have worked with Fox’s entertainment division slammed the company’s news division’s defense of the Trump administration’s border-separation policies.
