Disney is locked in a battle with USA media conglomerate Comcast, which has offered $65bn in cash for Fox. Both Disney and Comcast are looking to use the Fox assets to bolster their content and expand overseas. A representative for Fox didn't immediately respond to a request for comment outside regular business hours.
The 21st Century Fox logo is displayed on the side of a building in midtown Manhattan. His newspapers such as Wall Street Journal, New York Post, Times of London and a portfolio of Australian properties are housed in a second company, News Corp.More news: Ronaldo saves the day as lacklustre Portugal edges Morocco
Disney, meanwhile, could also benefit from Fox's wide range of television and film assets, which could feed into its streaming services, including a planned rival to Netflix sometimes referred to as Disneyflix.
Analysts have been gearing up for more media consolidation following last week's approval by a U.S. judge of a massive $85 billion takeover by telecom-broadband giant AT&T of media-entertainment conglomerate Time Warner.
When Disney announced it was essentially buying the production assets of Fox, the deal was already an insane amount of money, $52 billion in stock and Disney taking $14 billion in debt off Fox's hands for a total cost of $66 billion, roughly 1,100,000 teacher's salaries. 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. In a statement Wednesday Disney said it is raising its offer because Fox's value increased due to "tax reform and operating improvements".More news: Germany under pressure after opening loss
Meanwhile, there's a separate - yet intertwined - fight for Sky, the British pay-TV company. It can't really be said that Comcast would have really done anything good with them, so we will just have to wait and see how this pans out - as Comcast could still make a higher offer.
In any case, Comcast isn't likely to go away quietly.
Disney is making a $71 billion counter bid for Fox's entertainment businesses following Comcast's $65 billion offer for the company. That leaves CEO Brian Roberts with some tough decisions.More news: Weather service warns of hot Sunday and Monday in Central New York