My previous research concluded that Comcast (CMCSA) shouldn't really want to win the Twenty-First Century Fox (FOX, FOXA) media assets in a bidding war with Disney (DIS). The stock hit multi-year lows on the original bid for the assets, but a higher bid from Disney and regulatory moves provide a way out for the misguided bid.
Image Source: Comcast website
Damaging Bidding War
In not a huge surprise, Disney upped the bid for the 21CF media assets under the original agreement to $38 per share. The new bid is an incredible 36% increase over the original offer of $28.
