New York — 21st Century Fox has accepted a sweetened, roughly $71bn bid from Walt Disney for its entertainment assets, dealing a blow to Comcast’s efforts to acquire the business. The $38-a-share price is about $10 a share higher than Disney offered in December — and $3 above Comcast’s bid from last week. The new agreement also offers more flexibility and other enhancements than the Comcast offer, Fox said on Wednesday. At stake is a trove of media properties, ranging from The Simpsons to X-Men, that may help fend off the threat from Netflix and other streaming start-ups. Both Disney and Comcast are looking to use the Fox assets to bolster their content and expand overseas. The tussle follows AT&T’s victory over the US justice department in its anti-trust battle to take over Time Warner. That outcome is expected to spur a wave of media consolidation, emboldening companies to get more aggressive with deals. The Disney-Comcast contest will determine who controls much of Rupert Murdoch...

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