Comcast made a $65 billion offer for much of the Hollywood holdings of 21st Century Fox. The bid tops the $52.4 billion offer made by Disney last year. Mike Blake/Reuters hide caption
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Mike Blake/Reuters
Comcast made a $65 billion offer for much of the Hollywood holdings of 21st Century Fox. The bid tops the $52.4 billion offer made by Disney last year.
Mike Blake/Reuters
Updated at 4:53 p.m. ET
The power plays for Hollywood’s biggest studios are coming fast and furious.
Comcast on Wednesday made a $65 billion offer for some of the biggest Hollywood holdings of 21st Century Fox, the global television and entertainment conglomerate controlled by Rupert Murdoch and his family.
The bid by Comcast, the parent company of NBCUniversal, tops the $52.4 billion offer made by Disney for 21st Century Fox in December. And it comes just a day after a federal judge approved AT&T’s $85 billion acquisition of Time Warner.
Comcast Chairman and CEO Brian Roberts cited the AT&T/Time Warner court decision in his offer letter to 21st Century Fox Executive Chairman Rupert Murdoch and his sons, Lachlan Murdoch and James Murdoch.
“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,” Roberts wrote.