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Twenty-First Century Fox (FOX, FOXA) Up Sharply On Hopes For Bidding War

Shares of Twenty-First Century Fox (FOX,FOXA) are up sharply in early trade Wednesday. Investors are taking positions in hopes that Comcast (CMCSA,CMCSK) will make a bid for the company's entertainment assets. Walt Disney (DIS) has already made an offer for the assets.

Traders believe a bidding war is more likely following a federal court ruling that cleared the path for AT&T's (T) takeover of Time Warner.

Twenty-First Century Fox has gapped open sharply higher Wednesday morning and is now up 3.01 at $43.55 on above average volume. The stock has jumped to a new high for the year.

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