IT'S OFFICIAL: Disney is spending $71.3 billion to arm itself for a war with Netflix
Business Insider -

Disney is preparing for a full-scale rivalry with Netflix. And that means Disney needs all the programming it can get as it plans for a direct-to-consumer, digitally-dominated media future.

Disney's first shot in this war was to announce a deal to buy a collection of assets from 21st Century Fox. But after a federal judge approved AT&T's so-called vertical merger with Time Warner, Comcast entered the bidding, leading to a takeover battle. 

On June 20, Disney raised its offer for the assets...

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