Twenty-First Century Fox's board will meet on Wednesday to decide whether to consider Comcast's $65 billion cash bid for some of media company's assets or stick with its roughly $52 billion all-stock offer from Walt Disney.
Comcast bid $35 per share for Fox's entertainment assets, while Disney's agreed offer is valued at about $29.12 a share based on its Tuesday closing price.
Diversified Private Wealth Advisors President Dominick Tavella and Rosecliff CEO Mike Murphy on Comcast's bid challenging Disney's deal to acquire 21st Century Fox' entertainment assets and the outlook for Federal Reserve policy.
"The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies", said Disney boss Robert Iger. They are amassing ever more programming to better compete with technology companies such as Amazon and Netflix for viewers' attention - and dollars.
Comcast, which has lodged a separate £22bn bid to buy Sky, is expected to respond with a sweeter deal as a bidding war hots up over the summer. In the wake of Judge Richard Leon clearing the $85 billion proffer - effectively allowing AT&T to absorb Time Warner - Comcast unveiled its proposal for the rights to intellectual properties owned by 21st Century Fox - including Deadpool, the Fantastic Four and the X-Men.
The move comes after Comcast launched a rival offer for most of Fox's film and television holdings.
Disney also plans to take on about $13.8-billion of Fox's net debt.
Fox said that in light of the new offer tabled by Disney it has concluded that Comcast's bid can not be considered to result in a better deal for shareholders. Shares of Disney rose 29 cents to $106.47 and Comcast shares rose 22 cents to $33.03 United States dollars. Part of the business will be used to create an entity called "New Fox", which will include the highly lucrative Fox News, the sports channels FS1 and FS2, and the Fox broadcasting channel.