The Walt Disney Company have just updated their offer to buy 21st Century Fox to $71.3 billion, topping the $65 billion from Comcast. It has recently been announced that Fox have accepted this offer, however, Comcast still have a chance to return with a higher bid as it has not been officially sold.

Disney have also agreed to take on Fox’s net debt, increasing the overall total to $85.1 billion.

The chairman of The Walt Disney Company, Robert A. Iger, said: “The acquisition of 21st Century Fox will bring significant financial value to shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and talent at Fox.

“At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing, high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalised and compelling entertainment experiences to meet growing consumer demand around the world.”