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Why 21st Century Fox Stock Rose More than 7%

Scarlett Ness
Why 21st Century Fox Stock Rose More than 7%

Media giant Disney (DIS) has recently made a higher bid than rival bidder Comcast (CMCSA) for most of the assets of 21st Century Fox (FOXA). Disney is now offering more than $71.3 billion for Fox’s film, television, and entertainment assets, around 36% higher than its initial bid of $52.4 billion in December. Following the announcement, Comcast shares were up 1.77% to $33.39 on June 20, while Disney closed up 0.99% to $107.15 per share.