Disney's Counter-Bid To Fox Stands At $71.3 Billion

Yesterday we reported that Disney had upped its offer to Fox in an attempt to outbid Comcast, and now we're learning today just how big the company's counteroffer was. Deadline reported Disney has upped it's offer to $71.3 billion in a mixture of cash and stock in an attempt to sway Fox executives over Comcast's cash offer of $65 billion. Walt Disney Company CEO Bob Iger also released the following statement regarding the company's increased bid:

“The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox. At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.” 

Well, it appears as though the ball is back in Comcast's court. Will they up the ante yet again? Who would've thought Fox was such an attractive acquisition?! 

UPDATE: Blomberg reports that Fox has accepted Disney's bid. This doesn't mean that Fox is selling to Disney, though. It's not officially set in stone. This means is that Fox is officially recognizing Disney's bid as the best offer on the table. Comcast still has an opportunity to return with an even higher bid if they want.