Disney takeover of 21st-Century Fox...WTF??

BBC News wrote:Disney set to seal $60bn 21st Century Fox takeover

The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in the UK, Europe and Asia.

Disney was left as the front runner after Comcast, the NBC owner, dropped out of the race on Monday.

The Financial Times said talks about the price were continuing on Tuesday.

CNBC reported that Fox and Disney were on a "glide path" for an announcement on Thursday, according to people familiar with the negotiations.

The Murdoch family was said to favour a deal with Disney because it would rather be paid in the entertainment giant's shares than Comcast stock.

A deal with Disney could also face fewer US regulatory hurdles, although it is extremely unlikely to be waved through.

The deal is already under scrutiny by the UK Competition and Markets Authority (CMA), which is expected to publish its provisional findings in January.

It is not clear whether Disney will continue with the takeover if it buys the 39% stake from 21st Century Fox as part of the wider transaction.

Matthew Horsman, analyst at Mediatique, told Variety magazine that the CMA is likely to continue probing the deal. "They've done all the work. I'm pretty sure they're going to announce a decision," he said.

The assets being sold by Fox include its FX and National Geographic cable channels, 22 regional US sports networks and the company's stake in the Hulu streaming platform in the US.

It would also add to Disney's extensive film and television library, with movies such as Avatar and Deadpool, as well as small screen hits including The Simpsons and Modern Family.

The Fox broadcast network, Fox News and Fox Sports would remain under the Murdochs' control.

As well as its film studio, Disney also owns the ESPN sports network and cable channels.

Mr Murdoch's decision to sell most of Fox has surprised many commentators given his desire to continually expand his media empire over the past five decades.

Talks were understood to have been held between the two companies in November but did not result in an agreement.

Negotiations then restarted earlier this month.

Shares in Disney rose 0.5% in New York on Tuesday, valuing the company at $162bn, while 21st Century Fox added 1%, valuing it at $62.6bn.

Fox shares have jumped by close to a third over the past three months.

WhoseYourWolfie wrote:

What they haven't mentioned in that article is the largest single shareholder in the Disney corp'n --  Apple, (the biggest company in the world, measured on share capitalisation..) via the merger of Pixar with Disney, several years ago...

And the biggest shareholding in Apple ?  That should still be Steve Jobs's estate (i.e. his wife & kids..), presumably ?

This article seems to be concentrating on the Murdochs,  despite them  selling down their investments, not up --  and 'diluting' their influence..

Eilzel wrote:To be fair, and I'm no fan of the Murdoch Empire (their newspapers are dangerous drivel, Fox News is even worse), the movie and entertainment side of things has rarely, if ever, been used as a political tool- in fact I would suggest that movie franchises like X-Men and TV shows like The Simpsons are far removed from the ideology peddled in Murdoch's news media.

And as Wolf says, Disney is the real giant here, and Disney is, as far as mega-corporations go, 'alright' compared to news corp, at least if we judge on any 'views' put out in theirs movies. They can be as cnutish as any in how they conduct business.

Original Quill wrote:

Eilzel wrote:To be fair, and I'm no fan of the Murdoch Empire (their newspapers are dangerous drivel, Fox News is even worse), the movie and entertainment side of things has rarely, if ever, been used as a political tool- in fact I would suggest that movie franchises like X-Men and TV shows like The Simpsons are far removed from the ideology peddled in Murdoch's news media.

And as Wolf says, Disney is the real giant here, and Disney is, as far as mega-corporations go, 'alright' compared to news corp, at least if we judge on any 'views' put out in theirs movies. They can be as cnutish as any in how they conduct business.

I know Les, that's why I ask...is this a good thing?  Remember, Disney is being penetrated too.  Could Hannity take over ABC?

Cass wrote:How can Rupert have any influence when he’s selling it? He is not retaining any type of control.

Original Quill wrote:

Cass wrote:How can Rupert have any influence when he’s selling it? He is not retaining any type of control.

It's actually a stock trade.  Rupert stockholders trade for about 25% of Disney, so power is in flux.  Anyway, I read it somewhere this AM, and can't find it now.  I looked.

I also read that Rupert's son wants a management role in Disney as a condition precedent to the trade.

It's evolving, so I'll keep an eye out.

Cass wrote:

Original Quill wrote:

It's actually a stock trade.  Rupert stockholders trade for about 25% of Disney, so power is in flux.  Anyway, I read it somewhere this AM, and can't find it now.  I looked.

I also read that Rupert's son wants a management role in Disney as a condition precedent to the trade.

It's evolving, so I'll keep an eye out.

Please do because in all the sites I visited I saw nothing mentioned about his son wanting a role.

US News & World Report wrote:Disney CEO Robert Iger says he'll work with Fox CEO James Murdoch on integrating the two companies, but Iger doesn't know what Murdoch's role will be over the long term.

Disney is buying a large part of the Murdoch family's 21st Century Fox for about $52.4 billion in stock, including film and television studios and cable and international TV businesses, as it tries to meet competition from technology companies in the entertainment business.

Iger told investors on a conference call Thursday that Murdoch will "be integral to helping us integrate these companies." After that, Iger says he will "continue to discuss with him whether there's a role for him here or not."

James Murdoch is the son of Rupert Murdoch, who built 21st Century Fox and News Corp. out of an inheritance from his father in Australia.

Rupert Murdoch has ostensibly already handed the reins over to a new generation at Fox. His son James is CEO, while his other son, Lachlan, like Rupert, has the title of executive chairman.

https://www.usnews.com/news/business/articles/2017-12-14/the-latest-disney-fox-deal-will-help-rivalry-with-netflix