Astronomical Price Proposed By Disney After Comcast Bids for 21st Century Fox

The battle over the future of entertainment is ongoing. After the turn of events which was the higher bid for 21th Century Fox proposed by Comcast earlier this month, Disney is back on track trying to make an acquisition of an unprecedented level that would change the course of global entertainment.

The initial sum offered by Disney was $52.4 billion; it was later outbid by Comcast with a new $65 billion proposal for the acquisition, the assets of which include 20th Century Fox, Fox’s film studio, FX Networks, National Geographic, 30% of Hulu and 39% of European satellite broadcaster Sky.

Current executive chairman of 21st Century Fox, Rupert Murdoch, and his son, Lachlan, would retain assets that include Fox News and Fox Broadcasting Company into a new standalone company.

On Wednesday, Disney named a new price: $71.3 billion in cash and stock with some debt to partly finance the transaction. “This 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,” said Murdoch after Disney’s new proposition, as reported by Variety.

Bob Iger, the CEO of Disney, spoke about “the potential impacts of [this acquisition] on markets across the world,” on NBC, and he ensures that, “after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox.”

The bidding war against Fox put two of the industry’s most prominent businessman, Iger and Comcast head, Brian Roberts. No statement has been so far released by Comcast.

Fox postponed a meeting with shareholders to vote on the deal which was scheduled for July 10. The world remains breathless as the two titans, each possessing historical film and television assets, attempt to make it fit.

Michael Adonts: Hi, my name is Michael! I am a filmmaker based in Los Angeles, currently living in the SF/Bay Area, where I attend UC Berkeley as an undergrad, majoring in Psychology. Beyond my studies, I also work as a freelance producer, videographer and editor, having worked with a variety of clients, ranging from local musicians to up-and-coming start ups, making videos, commercials and trailers. My interest in film began in middle school when my family and I immigrated to LA, having previously lived in Russia and Armenia (my homeland.) Having limited experience in American culture and language, I took to watching platitudes of classical American films of the 70s, 80s and 90s, from which, while seeking to simply become educated in a foreign culture, I discovered my love for cinema and its different forms, like directing, writing, and editing. I started making my own films in high school, where I also began collaborating with friends on projects of various nature. Learning the craft myself, I continue to do so now as I start to dive into bigger projects, with the goal of writing and directing for film and TV! While early on I was mostly exposed to New Hollywood directors and 90s filmmakers like David Fincher, the Coen Brothers and Spike Jonze, I eventually began venturing to foreign cinema of the likes of Fellini, Bergman, Kurosawa, as well as Old Hollywood masters like Hitchcock, David Lean, and Billy Wilder. In films I primarily seek two things: passion and innovation. I love observing confident filmmakers masterfully submerge the audience into unique worlds and stories, utilizing all of cinema’s many possibilities like visuals, sound, music, and editing. Film has developed a universal language that is becoming more and more available to wider varieties of artists, which makes me excited to observe and engage in the future of both Hollywood and the world cinema!
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