Comcast had offered almost $66 billion for Fox. "At a time of dynamic change in the entertainment industry, the combination of Disney and Fox's unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and global presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demands around the world". Fox has already made an offer to buy the reaming 61% of the shares and now Comcast has made a bid for the entire company for $34 billion.
This opens up so many possibilities for Disney, but most fans are very excited at the idea of Fox's Marvel characters crossing over into the Marvel Cinematic Universe.
Even as the battle over 21st Century Fox appear to have abated, battles continue overseas, in Comcast vs. Disney 2. Home to popular franchises like X-Men, Deadpool, The Simpsons and more, Fox's entertainment assets could benefit Disney significantly.
Disney subsequently sweetened its offer to $71.3bn and recently gained regulatory approval in the United States, with Fox shareholders due to vote on the deal on the 27 July. When originally given a preference of who they'd like to sell to, the Murdoch Family preferred Disney over Comcast in large part due to the Iger's track record and the long-term story of Disney's stock. The company is still looking to purchase global broadcaster Sky.
Comcast did not put in a counteroffer until after the Justice Department approved AT&T's $85 billion merger with Time Warner.
A top U.S. Justice Department official, Makan Delrahim, praised the deal as being carefully sculpted to avoid antitrust concerns, signaling federal regulators were unlikely to block it.
Iger and Disney have coveted Fox's path into global markets. Increasing the offer by £1 would add $1.5 billion of extra debt, and $60 million in annual interest costs, Disney has said.
Now the question becomes whether Fox will choose to split its assets between the two rival bids, especially with many considering Sky a "crown jewel" of the Fox assets.
British regulators required Murdochs to sell off the respected Sky News service if they were to win full control of Sky, and to agree to pay to keep it fully funded for at least the next 15 years.