Comcast and 21st Century Fox An SEC filing has revealed more about why 21st Century Fox spurned Comcast's takeover bid in December, opting to sell to Disney instead. It seems Comcast refused to agree to a breakup fee in the event that Justice Department regulators didn't agree to the deal going ahead. Disney offered a $2.5 billion fee, so the Murdoch clan went with Disney instead. Another factor was that Disney's stock was seen as more valuable. New York Times
Comcast vs. Disney Comcast's counteroffer to Disney's bid for 21st Century Fox's entertainment assets is real and imminent. Comcast says it is "considering, and is in advanced stages of preparing, an offer for the business that Fox has agreed to sell Disney…Any offer for Fox would be all-cash and at a premium to the value of the current all-share offer from Disney." According to the BBC, it's unlikely that Comcast will move until a judge rules on the U.S. government's suit to block the Time Warner-AT&T merger. BBC
Comcast vs Disney Comcast's bidding war with Walt Disney for most of 21st Century Fox is finally on, in the wake of the ruling that cleared AT&T's takeover of Time Warner (Fox's board had previously been wary that antitrust regulators might nix a Comcast takeover.) Comcast made its $65 billion cash offer yesterday, at a premium of 20% to Disney's all-stock offer. The Wall Street Journal reports that Disney is organizing financing in case it needs cash to counter Comcast's offer. WSJ
Disney and Fox The Justice Department has cleared Disney's purchase of Fox assets, on the condition that ESPN-owner Disney must sell off 22 regional sports networks that come as part of the deal. The approval came more quickly than expected, and it puts pressure on Comcast to urgently increase its counter-bid, as Fox's board now knows it has a smooth ride ahead if it goes with Disney. Variety
Disney Bet Disney will not allow the streaming of its upcoming Captain Marvel on Netflix, instead keeping it behind the fortifications of the upcoming Disney+ streaming service. Disney reckons its decision to treat its new films in this way will cut its operating income by around $150 million this year, but chairman Bob Iger likens it to deploying capital to build out theme parks. Fortune
Disney takes the wraps off Disney+ The Walt Disney Co. on Thursday gave the investor community its first look at direct-to-consumer streaming service Disney+, and it seems the Mickey Mouse gloves are coming off in the fight against streaming leader Netflix. The DTC product will go live in the U.S. on Nov. 12 for $6.99 per month, or about half what consumers pay for a standard Netflix streaming package and $2 cheaper than the going rate for Amazon Prime Video. (Ad Age)
Disney's long-awaited streaming service opens its doors in the U.S. today, costing $6.99 a month. It features separate sections for major brands in the Disney portfolio, such as Marvel, Pixar and Star Wars. It may take a while for all Disney's movies to be added, though, as some are still subject to deals with now-rivals such as Netflix. TechCrunch