The board of 21st Century Fox has accepted an increased cash or shares offer for the company’s assets.
The new $71.3 billion offer tops the $65 billion bid made earlier this month by Comcast.
Whilst, Fox is retaining the iconic Fox News brand, international interests including Sky and India’s Star are a part of the deal.
“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that 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 Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF‘s iconic assets, brands and franchises with Disney‘s will create one of the greatest, most innovative companies in the world.”
Comcast now has to decide whether it’s feasible to launch a counter bid.
