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.