Bovada Prop Offered on Which Suitor Wins 21st Century Fox’s Heart

Kim MacCormack

Monday, June 18, 2018 11:16 AM UTC

Monday, Jun. 18, 2018 11:16 AM UTC

A plot-twist ruling by a federal judge has Disney and Comcast dueling for dominance in a lust to own 21st Century Fox.

The House of Mouse has upped its bid to get its fairy tale ending with 21st Century Fox.

The Walt Disney Co. finds itself in a bidding war with Comcast for Rupert Murdoch’s long-time entertainment empire.

Disney is now offering $71.3 billion in cash and stock for the Fox entertainment assets. Analysts didn’t believe Disney would let it go and they countered the offer offering $38 per share plus assumption of $13.8 billion in net debt which takes the value to $85.1 billion.

Bovada is offering odds on the outcome in the fight for Fox with Comcast favored at -160 and Disney at +120.

[/]{"component": "embedHTML", "code": "

The news regarding Comcast, Disney and 21st Century Fox in a single image: pic.twitter.com/Mp4gKEEibb

— Ryan Holman (@realRyanHolman) June 13, 2018
\n\n"}[/]

In December, Disney agreed to give Fox $52.4 billion in stock for the bulk of its properties that includes the renowned movie studio, regional sports channels, TV networks NatGeo and FX plus a share of Sky and Hulu. The deal does not include Fox News, Fox Business Network or FS1, the Fox Sports network airing the World Cup.

But following the judge’s ruling, another potential spouse – Comcast – offered Fox $65 billion, putting Disney’s happily ever after in doubt.

Comcast is the behemoth media parent company of NBCUniversal. It owns and operates Xfinity cable service, broadcast TV channels NBC and Telemundo, cable networks MSNBC, USA and E!, plus Universal Pictures and Universal Parks and Resorts.

Both companies are being aggressive in their attempts to bring Fox into their orbit. Wall Street analysts say Comcast’s wants Fox so it will bolster content to compete with Amazon and Netflix. In 2016, it added to its cache Dreamworks Animation that includes the “Madagascar” and “Kung Fu Panda” franchises and “The Boss Baby.”

Disney’s long-planned entertainment streaming service, scheduled to launch late next year, could be less successful without Fox’s multiple offerings. Both companies have a lot riding on the potential merger which will receive a lot of government scrutiny.

According to Variety, some at Fox like Disney, seeing it as the future of movies with their mega “Avengers” and “Star Wars” franchises. Others, however, feel Fox, with its more adult fare such as “Logan,” “Gone Girl” and Oscar winner “The Shape of Water,” is an easier fit with Comcast.

As part of its initial offer, Comcast has said it will pay a $1.5 billion “break-up” fee to Disney for their fractured fairytale. With Disney’s counter offer, the business world waits for Comcast’s next move.

The plot thickens.

comment here