DISNEY Ups FOX Bid to Knock of Rival Comcast

21 June, 2018, 00:38 | Author: Charlene Valdez
  • Disney making $70.3 billion counterbid for Twenty First Century Fox

The Walt Disney Co. logo appeared on a screen, in August 2017, above the floor of the New York Stock Exchange. Disney's latest enticement is worth $71.3 billion in cash and stock - almost $19 billion north of the company's $52.4 billion bid, which Fox accepted last December.

The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms.

Of course, Fox will ultimately go with whichever company gives them a better deal.

Speaking to analysts on a Wednesday morning conference call, Iger was confident that Disney would prevail over Comcast in the fight to snap up the Fox properties.

U.S. Open Live Stream
Open champion succumbed to Shinnecock Hills' awful terrain of unevenness, from bunkered fairways to up-and-down greens. Mike Davis, chief executive officer of the USGA, conceded that the greens got away from the course setup people.

You can read the full Disney press release HERE and the FOX press release HERE. So for now, it appears that fans of the Marvel Cinematic Universe hoping to see the X-Men and Fantastic Four can breathe a sigh of relief. If Comcast wins, it would get a larger portfolio of cable channels including FX and National Geographic.

Disney believes the transaction has a clear and timely path to regulatory approval. He said that six months of dealing with regulators both in the USA and internationally has given Disney a "meaningful head start".

Comcast had no immediate comment. AT&T just bought Time Warner for $81 billion, after a federal judge rejected the government's antitrust concerns.

However, there is a conflicting report from Bloomberg that claims that Disney and Fox have agreed on this amount and that their deal is going forward. GBH Insights analyst Dan Ives said he thinks the "line in the sand" is $75 billion to $80 billion.

Canada Votes to Legalize Recreational Marijuana Use
A timeframe has yet to be drawn up, but it thought that Canadian may be able to legally purchase the drug by September. Trudeau said in a tweet: "It's been too easy for our kids to get marijuana - and for criminals to reap the profits".

Disney no longer expects to complete the $20 billion share repurchase announced in December, McCarthy said.

Mr Murdoch has always favoured Disney's offer because he is a big admirer of the company's chief executive, Bob Iger, under whom Disney has become a global entertainment and theme parks powerhouse enjoying substantially stronger growth than the wider media sector. The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32.

'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, ' he said in a statement.

The amended agreement has been approved by the boards of directors of Disney and 21st Century Fox. Fox has postponed a July 10 meeting, which had originally been scheduled for shareholders to vote on the deal.

Senegal wrap up Russian Federation 2018 preparations with win over S Korea
They lost 6-5 after extra time against Brazil in their 1938 debut before twice finishing third, in 1974 and 1982. Poland coach Adam Nawalka gave his talisman a rest at halftime, but the team continued to score in his absence.

Recommended:



Popular

U.S. Poised to Withdraw from U.N. Human-Rights Council
Among reforms the United States had been seeking was to make it easier to kick out member state with egregious rights records. But Israel has never been a members state of the Human Rights Council, which are elected by the UN General Assembly.

Differences Over Migration Policy Throw German Government Into Crisis
President Trump tweeted Monday morning that "Crime in Germany is way up" because of immigration to the country. Meanwhile, Mrs Merkel is in a different migration dispute with her interior minister, Horst Seehofer.

Woman shouting 'Allahu akbar' wounds two in French supermarket rampage
A store customer in the maritime town of La Seyne-sur-Mer was slashed in the chest and hospitalized. However, that does not exclude the possibility that the suspect was radicalized, Marchal added.

Border Hit by Huge Spike in Fraudulent Families Entering U.S.
Many are fleeing violence in Central America and are hoping to apply for asylum in the United States. Her "Be Best" platform, unveiled in May, is dedicated to children's well-being.

Melania Trump's Immigration Lawyer Compares Family Separation To Nazism
"Because their bill would basically make children at the border a get into the USA free ticket and a get out of jail free ticket".

Brazil set to change their captain for Switzerland match
Brazil have a good team and collective quality to get themselves out of problems but Neymar tried to win the game on his own and he failed.

United States judge sends Trump's ex-aide Manafort to jail, pending trial
Mueller's team has said that Kilimnik has ties to Russian intelligence agencies, a claim he has previously denied. Andres replied that "it's inconceivable that [Manafort] doesn't know that they're potential witnesses".

France edge tight Group C encounter with Australia
On 17 minutes France 'keeper Hugo Lloris turned a unsafe deflection from Corentin Tolisso around his far post. Australia did a brilliant job of making life hard for Didier Deschamps' more fancied outfit.

As NJ Rents Continue to Climb, Finding an Apartment Becomes Even Tougher
In Marin, San Francisco, and San Mateo Counties, you'll need to make at least $60 an hour - as much as $90 in some zip codes. What do you get when you combine minimum wage with increasing apartment rents ? "They need to do a revision", said Tillman.

Pakistani Taliban seek fate of leader after U.S
On Friday night, Major General Asif Ghafoor, Pakistani military spokesman tweeted: "President of Afghanistan Mr. In 2012, Fazlullah-led Pakistani Taliban shot teenager schoolgirl Malala Yousafzai in her hometown of Swat.