Business Briefs: Comcast, Target, LyftPosted: Updated:
Comcast is putting cash on the table to stop Disney's deal with Fox. The company is reportedly in the advanced stages to make a better, all-cash offer for all of the assets 21st Century Fox has agreed to sell to Disney. Disney is offering $52 billion in stock. Comcast is prepared to spend over $66 billion in cash. The acquisition would deal Disney a blow and give Comcast an edge in the streaming space.
Target missed its target. The retailer reported earnings Wednesday, missing analyst expectations on the bottom line. Target said sales of seasonal products like grills and patio furniture picked up as weather improved, blaming a late start to spring for poor numbers, but digital investments dropped profits below estimates.
Lyft says it is committing $100 million to help drivers maximize earnings by cutting the costs of car maintenance, car rentals and expanding driver hub hours. The company says it wants its nearly 1.5 million drivers to feel secure for the long haul. Lyft also expects to double its driver base over the next five years.