In my view, the implications of the $85 billion deal are large as the media industry will probably undergo a wave of dealmaking, benefiting investment banks and changing the competitive landscape.
Walt Disney (DIS) is also chasing Fox.
In my opinion, the higher cash deal by Comcast will probably overcome the Disney bid.
I think that Disney will certainly have to raise the all-stock price, most likely by adding some cash.
Mr. Murdoch’s near 20% holding (and 37% voting stake) in his entertainment division may favor the Disney offer because of tax benefits.
Other Fox shareholders might prefer the cash today because of the time value of the cash.
Facebook remains under pressure for its data privacy policies in Europe and the US.