Comcast made its highly anticipated bid for 21st Century Fox official on Wednesday, offering $65 billion for the company, excluding the Fox News and Fox Business channels.
The bid, $35 per share in cash, is roughly 24% higher than Disney’s previous offer of $52 billion for the company’s production assets and movie franchises.
“We have long admired what the Murdoch family has built at Twenty-First Century Fox,” Comcast said in a letter to 21st Century Fox’s board of directors. “After our meetings last year, we came away convinced that the 21CF businesses to be sold are highly complementary to ours, and that our company would be the right strategic home for them.”
To read more about Comcast’s offer, click here.
In other news:
The funny meme company 9GAG has hired a writer from Cheers and Seinfeld to help launch a late night talk show. The Hong Kong-based social media content firm has tapped Tom Leopold, a veteran writer from classic sitcoms such as “Cheers,” “Seinfeld,” and “Ellen,” to executive produce and run the show.
Snapchat launches privacy-safe Snap Kit, the un-Facebook platform. The set of APIs lets other apps piggyback on Snap’s login for sign ups, reports Techcrunch. The app is partnering with Pandora to power social sharing capabilities.
After buying PureWow, Gary Vaynerchuk’s company is launching a new men’s media brand meant to capture the collision of entrepreneurship and pop culture. One37pm will be a young men’s brand with no negative stories and no wall between the advertising and editorial teams.
Apple is reportedly closing a security loophole that will prevent police from accessing iPhones. The software update, reported by The New York Times, will disable the iPhone’s Lightning port an hour after the phone is locked.
Twitter is making more room for major events and news stories. The app will begin notifying users when a major event occurs, like the World Cup or a royal wedding, that might interest them.
Domino’s is repairing roads, and experts say it reveals a troubling trend in American spending. The chain has started paying construction crews to fill potholes in towns across the US with the goal of protecting pizzas.
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Source:: Business Insider