Deals
Murdoch May Get Billions by Picking Disney Stock Over Comcast Cash
- Disney offer worth $2.6 billion more to family because of tax
- Deal with choice of cash or stock to be considered July 27
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Cash may be king but Walt Disney Co.’s stock-based offer for 21st Century Fox Inc. entertainment assets could give it a $3.5 billion edge over Comcast Corp.’s rival bid.
Comcast’s $65 billion all-cash deal could stick Rupert Murdoch and his family with an upfront federal tax bill of $2.6 billion for their 17 percent stake, compared with no taxes now for Disney’s $71 billion cash-and-stock offer if Murdoch takes his entire payday in Disney stock. That -- along with Disney’s higher offer -- means the Murdochs could net as much as $11.8 billion from Disney’s proposed deal, compared with $8.3 billion with Comcast.