Just one day after news broke that AT&T acquired Time Warner for $85 Billion, Comcast is challenging Disney in a bid for Fox.
Yesterday’s news has given wings to major media companies to attempt to mirror the business transaction AT&T pulled off. The traditional media is in competition with content creators such as Amazon and Netflix when it comes to gaining more views and more dollars.
The bid war is in an attempt for the corporation to become a bigger media powerhouse. Disney’s original offer was for over $52 Billion dollars. Comcast is offering almost 20% more.
Comcast bought out NBCUniversal’s cable channels and movie studio in 2013 and Dreamworks Animation in 2016.
Regulatory concerns have risen with the idea that if Fox and Disney merge, they will account for almost 50% of the movies in box offices. This would give them unfair advantage in that aspect.
If Fox accepts the offer Disney will have five days to counter.