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Media Entertainment

Fox Board to Meet Wednesday to Discuss Comcast Bid

The board of Rupert Murdoch’s 21st Century Fox is scheduled to meet Wednesday, the New York Times reports, and Comcast’s $65 billion bid for the majority of its assets is sure to be the topic of discussion. While Fox already has accepted Disney’s $52.4 billion offer for the bulk of its assets, the board will have to decide if Comcast’s bid is solid enough, both from a financing and regulatory standpoint, to cancel its July 10 shareholder meeting on the deal and invite Disney to boost its offer.

It seems highly unlikely, even with the potential questions around Comcast’s bid, that Fox’s board wouldn’t pursue a bidding war between Comcast and Disney if they are acting in the best interest of all of its shareholders. That could mean a bigger tax hit for Mr. Murdoch’s estate if they opt for the Comcast all-cash bid over DIsney’s all-stock offer.

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