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Let the bidding war begin: Comcast launches $65 billion offer for 21st Century Fox, dwarfing Disney’s bid




A Comcast sign is seen as the U.S. media group submitted a $30.7 billion bid for Sky on April 25, 2018 in Miami, Florida.
A Comcast sign is seen as the U.S. media group submitted a $30.7 billion bid for Sky on April 25, 2018 in Miami, Florida.
Joe Raedle/Getty Images

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Competing bids from Comcast and Disney for the bulk of Twenty-First Century Fox come as the media landscape changes and companies get more involved in both creating and distributing content.

X-Men and other movies from Fox's studios would help beef up Disney's upcoming streaming service. Comcast, already a major cable operator, would get a larger portfolio of cable channels including FX and National Geographic. Comcast's $65 billion cash bid Wednesday is higher than what many analysts were expecting and tops Disney's all-stock offer, valued at $52.5 billion when it was made in December.

Disney is expected to make a counter offer. Each bid raises different regulatory concerns, though this week's approval of AT&T's takeover of Time Warner signals that regulators might have a hard time stopping mega-mergers.  

With files from the Associated Press.

Guest:

Edmund Lee, corporate media reporter for the New York Times, covering media, tech and telecom who has been reporting on Comcast’s bid to acquire 21st Century Fox; he tweets @edmundlee