NEW YORK, NY / ACCESSWIRE / June 14, 2018 / A day after a federal judge gave the green light to AT&T and Time Warner merging, Comcast outbid Disney in an offer to obtain most of Twenty-First Century Fox's assets. Comcasts CEO Brian Roberts stated, "In light of yesterday?s decision in the AT&T/Time Warner case, the limited time prior to your shareholders? meeting, and our strong continued interest, we are pleased to present a new, all-cash proposal that fully addresses the Board?s stated concerns with our prior proposal."

RDI Initiates Coverage on:

The Walt Disney Company
https://rdinvesting.com/news/?ticker=DIS

Twenty-First Century Fox, Inc.
https://rdinvesting.com/news/?ticker=FOXA

The Walt Disney Company shares closed up 1.90% on about 22 million shares traded yesterday. The gains came in despite the company receiving a blow yesterday as Comcast officially made its offer for Twenty-First Century Fox's assets, a move that Wall Street was anticipating. The offer from Comcast is 19% higher than the bid Disney has made and is the largest all-cash offer ever made at $65 billion. Rivaling Disney, the cable company said it would pay $35 per share to buy all of 21CF's assets, with the exception of Fox News. Comcasts' CEO & Chairman Brian Roberts, wrote, "We have long admired what the Murdoch family has built at Twenty-First Century Fox. After our meetings last year, we came away convinced that the 21CF businesses to be sold are highly complementary to ours, and that our company would be the right strategic home for them. So, we were disappointed when 21CF decided to enter into a transaction with The Walt Disney Company, even though we had offered a meaningfully higher price."

Access RDI?s The Walt Disney Company Research Report at:
https://rdinvesting.com/news/?ticker=DIS

Twenty-First Century Fox, Inc. shares closed up 7.70% on Wednesday and hit a new high of $43.93 after Comcast made a $65 billion offer for the company, outbidding Disney's bid by 19%. The bid has now initiated a bidding war between Comcast and Disney to gain most of Twenty-First Century Fox's assets. Comcast wrote in a letter to Fox, "We are also highly confident that our proposed transaction will obtain all necessary regulatory approvals in a timely manner and that our transaction is as or more likely to receive regulatory approval than the Disney transaction. Accordingly, we are offering the same regulatory commitments as the ones 21CF has already obtained from Disney, including the same $2.5 billion reverse termination fee agreed to by Disney.? It was yesterday that Fox confirmed that it had received the written proposal from Comcast to acquire the same businesses that it had agreed to sell to The Walt Disney Company. The businesses include Twentieth Century Fox Film and Television studios, and cable and international TV businesses.

Access RDI?s Twenty-First Century Fox, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FOXA

Our Actionable Research on The Walt Disney Company (NYSE: DIS) and Twenty-First Century Fox, Inc. (NASDAQ: FOXA) can be downloaded free of charge at Research Driven Investing.

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