Jun 20, 2018

Bidding war: Disney increases Fox bid to fend off Comcast

Disney CEO Robert Iger. Photo: Chip Somodevilla/Getty Images

The Walt Disney Company announced Wednesday a new $38-per-share acquisition bid for 21st Century Fox, giving Fox shareholders the option to select cash or stock in the combined entity.

Why it matters: Disney was forced to increase its bid for Fox's entertainment properties after Comcast unveiled a higher bid for the same properties last week at $65 billion, which was significantly higher than Disney's original $52.4 billion offer.

By the numbers: Under the new offer, Disney is expected to pay approximately $35.7 billion in cash, according to a company statement. Disney would also assume about $13.8 billion of the net debt of 21st Century Fox.

The bigger picture: The bidding war between Comcast and Disney was expected to kick off after a judge last week ruled that AT&T's $85 billion purchase of Time Warner could proceed, over the government's antitrust objections.

Go deeper: The battle for Fox between Comcast and Disney.

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Updated 45 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

India extended its nationwide lockdown — one of the longest-running in the world — on Saturday, as deaths and infections rise, per Johns Hopkins. The country also moved to allow restaurants, hotels and churches outside of hotspots to begin reopening.

By the numbers: Nearly 6 million people have tested positive for COVID-19 worldwide and over 2.5 million have recovered from the virus. Over 367,000 people have died globally. The U.S. has reported the most cases in the world with over 1.7 million.

Updated 2 hours ago - Politics & Policy

In photos: Protesters clash with police nationwide over George Floyd

Police officers grapple with protesters in Atlanta. Photo: Elijah Nouvelage/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd spread nationwide on Friday evening and continued into Saturday.

The big picture: Police responded over the weekend in force, in cities ranging from Salt Lake City to Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C., Denver and Louisville. Large crowds gathered in Minneapolis on Saturday for the fourth day in a row.

Updated 2 hours ago - Science

Live updates: SpaceX launches NASA astronauts to space station

Photo: NASA TV

SpaceX just launched NASA astronauts Doug Hurley and Bob Behnken on an historic ride to the International Space Station.

Why it matters: The launch brings crewed launches back to the U.S. for the first time in nine years, since the end of the space shuttle program.

Follow along below for live updates...