IT'S A BIDDING WAR: Disney boosts its offer for 21st Century Fox assets

AP

Disney has raised its offer for 21st Century Fox assets. The new offer is worth $36 a share for a total of $71.3 billion in cash and stock.

The increased offer comes after Comcast crashed Disney's attempt to buy the assets with a $65 billion bid of their own just one week ago, after the US Justice Department approved the AT&T-Time Warner merger.

"We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry," 21st Century Fox Executive Chairman Rupert Murdoch said in the press release.

"We remain convinced that the combination of 21CF's iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world."

21st Century Fox shares are up 29.5% this year through Tuesday.

This story is developing...