Comcast Bid 16% More Than Disney for 21st Century Fox, Filing Shows
Comcast Bid 16% More Than Disney for 21st Century Fox, Filing Shows Photo The 21st First Century Fox board accepted Disney’s bid after Comcast refused to agree to a breakup fee in case federal regulators rejected a deal, according to a filing on Wednesday with the Securities and Exchange Commission. Credit Lucy Nicholson/Reuters LOS ANGELES — Rupert Murdoch sold most of 21st Century Fox to Disney in December for $52.4 billion, spurning a proposal from Comcast that was 16 percent higher on a per-share basis, in part because Comcast refused to offer protections in the event of regulatory rejection.
Although Comcast’s interest in 21st Century Fox was previously known, details of Comcast’s proposal — and Fox’s reasoning for rebuffing it — were disclosed for the first time on Wednesday as part of a 456-page filing with the Securities and Exchange Commission. The paperwork, required under securities law, also disclosed that senior Fox executives, including Mr. Murdoch and his two sons, James..