The daily business briefing: June 21, 2018

Disney raises its bid for 21st Century Fox, four airlines refuse to fly migrant kids separated from parents, and more

American Airlines planes in Chicago
(Image credit: Scott Olson/Getty Images)

1. Disney sweetens bid for 21st Century Fox

Disney on Wednesday raised its offer for 21st Century Fox's entertainment assets to $71.3 billion. Fox accepted the offer but shareholders still have to vote on it, giving Comcast or others time to make higher bids. Comcast's recent $65 billion cash-only bid had trounced a previous Disney offer of $52.4 billion in stock. Both companies want to beef up their content to contend with Netflix and other streaming-video rivals. If the Disney deal goes through, it will acquire the 21st Century Fox film and TV studio, Fox's American cable channels, and the U.K.-based Sky News. An unnamed "New Fox," focused on news and sports, would retain Fox News, Fox Sports, and Fox's TV stations. The deal requires Justice Department approval, but a judge's recent rejection of an antitrust challenge to the AT&T-Time Warner merger bodes well for Disney.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.