On December 14, 2017, The Walt Disney Company announced a definitive agreement to acquire 21st Century Fox for $52.4 billion in stock. Assets being assumed by the acquisition include the 20th Century Fox film and TV studios, Fox Networks Group (along with cable channels such as FX), stakes in National Geographic Partners, Asian satellite TV group Star, additional 30% stake in Hulu, and other key assets. 21st Century Fox will spin-off the Fox Broadcasting Company, Fox Television Stations, Fox News, the Fox Business Network, FS1, FS2, Fox Deportes and the Big Ten Network into the "New Fox" company.Comcast (parent company of NBCUniversal) counter-offered on June 13, 2018, with a $65 billion all cash proposal to acquire the Fox assets that Disney was set to purchase, touching off a major bidding war between the two companies.
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