, Columnist
Disney Prevails in the Fox Hunt. Now What?
A megamerger will only go so far in an industry faced with sweeping change.
Disney always gets its happily ever after.
Photographer: Kiyoshi Ota/Bloomberg
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Disney always gets its happily ever after.
Comcast Corp. backed down from its pursuit of Rupert Murdoch’s 21st Century Fox Inc. on Thursday morning, allowing Walt Disney Co. to proceed with its own $85.1 billion acquisition of the assets, for which Disney has already obtained regulatory clearance (figure includes assumed debt). Of course, it’s thanks to Comcast’s late-stage competing bid that Disney was driven to pay nearly $20 billion more than it originally intended to, so Murdoch and his sons are the true winners here.