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Walt Disney Co.

Comcast challenges Disney with $65 billion bid for Fox

Comcast challenges Disney with $65 billion bid for Fox

The Fox hunt is on.

Comcast Corp. late Wednesday offered $65 billion in cash for much of 21st Century Fox, a 19 percent premium over the December offer from Walt Disney Co., which Fox Chairman Rupert Murdoch had already accepted.

To further sweeten the all-cash deal, the nation’s largest cable provider offered to pay at least $4 billion in breakup fees should Comcast fail to win regulatory approval for the deal — and to make Disney go away.

The offer sets the stage for a potential bidding war with Disney and its chief executive, Bob Iger, who views the combination with Fox as key to the Burbank company’s growth.

Comcast's move was widely expected after a federal...