45.83 0.00 (0.00%)
After hours: 4:33PM EDT
|Bid||45.83 x 1000|
|Ask||46.45 x 4000|
|Day's Range||45.46 - 46.05|
|52 Week Range||24.81 - 50.15|
|Beta (3Y Monthly)||0.64|
|PE Ratio (TTM)||19.06|
|Earnings Date||Nov 6, 2018 - Nov 12, 2018|
|Forward Dividend & Yield||0.36 (0.79%)|
|1y Target Est||50.05|
On October 15, Walt Disney (DIS) announced that it had offered concessions to the European Commission on October 12 to help resolve the European Union’s (EZU) antitrust concerns and accelerate the approval process of its $71.3 billion acquisition deal with 21st Century Fox (FOXA), according to Reuters. Disney initially made a bid of $52.4 billion to buy Fox’s media and entertainment assets in December 2017, but US cable company Comcast (CMCSA) intervened with its $65 billion offer to purchase these assets from Fox. The fight over the Fox assets came to an end in July after Comcast decided to withdraw from the bidding war for Fox assets and focus on buying a 61% stake in London-based Sky.
When Twenty-First Century Fox Inc (NASDAQ:FOXA) released its most recent earnings update (30 June 2018), I wanted to understand how these figures stacked up against its past performance. The two Read More...
Walt Disney (NYSE:DIS - News) has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc's (NasdaqGS:FOXA - News) entertainment assets, the European Commission said on Monday. Disney submitted its proposal on Friday, according to a filing on the EU competition enforcer's website which however did not provide details. The Commission extended its deadline for reviewing the deal to Nov. 6 from Oct. 19.
Disney has offered to pay holders of $18.1 billion of Fox debt a small fee in exchange for their giving up bondholder protections known as covenants, according to research service Covenant Review. The group of noteholders, represented by corporate debt trade group Credit Roundtable, is working with investment bank Houlihan Lokey to help advise it, said David Knutson, a buyside analyst who is a co-leader of the advisory board to the Credit Roundtable. The group’s biggest objection is being unable to trade the bonds until the Disney acquisition closes, he added.
In June, the Walt Disney Company (DIS) agreed to buy entertainment assets of Rupert Murdoch’s Twenty-First Century Fox (FOXA) for $71.3 billion. After the sale of a 39% stake in Sky to Comcast (CMCSA), Disney remains on track to purchase Fox’s film and TV studio assets, as well as FX, Fox Sports Regional Networks, Fox Networks Group, stakes in National Geographic Partners, Indian satellite TV group Star India, Hulu, and others.
Can Netflix Deliver in Q3 2018? Netflix (NFLX) appears to be focused on its international market growth by investing in local content. Netflix expects to finish the third quarter with ~72.9 million paid members.
Of the 24 analysts covering Comcast (CMCSA), 17 have rated the stock a “buy.” Seven have rated it a “hold,” and none have rated it a “sell.” Comcast’s victory of a 61% stake in Sky over Twenty-First Century Fox (FOXA) and the acquisition of a 39% stake from Fox and the Walt Disney Company (DIS) have probably made analysts positive. It seems that analysts are confident that Comcast will get full ownership of London-based Sky. Comcast is trading at $35.18 as of October 8, which is an 18.2% discount to its consensus median target estimate.
SAN FRANCISCO/BOSTON (Reuters) - Elon Musk replied with a Tweet saying: "This is incorrect" after the Financial Times reported that outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc chairman. Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and U.S. regulators after Musk tweeted in August that he had secured funding to take the electric car maker private. The SEC settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behavior raised concerns about his ability to steer the money-losing company through a rocky phase of growth.
Hewlett Packard Enterprise CEO Meg Whitman and film producer Jeffrey Katzenberg have announced their new TV project will be titled "Quibi" on Wednesday at the Vanity Fair Summit.
On October 2, Bloomberg reported that what Comcast (CMCSA) is borrowing to acquire Sky will put the company in the $100 billion debt club. Comcast’s debt level would nearly double to $114 billion, placing it after telecommunications providers AT&T (T) and Verizon (VZ). As we saw in the previous parts of this series, Comcast won the bidding war against Twenty-First Century Fox (FOXA) for 61% of London-based broadcaster Sky.
As of October 2, Comcast (CMCSA) has sold unsecured bonds worth $27 billion to finance its $38.8 billion purchase of 61% of Sky. Comcast’s deal was also the fourth-largest debt sale in the United States after Verizon (VZ), Anheuser-Busch InBev, and CVS. According to the Financial Times, Comcast sold $27 billion of bonds in 12 parts of floating and fixed bonds with maturities of two to 40 years.
In the fiscal year to the end of June, Sky had revenue of £13.59 billion and a pretax profit of £864 million. Comcast is an American cable juggernaut that owns NBCUniversal as well as the Xfinity cable and telecommunications service. A previous deal reached in December, was challenged by Comcast, which dropped its pursuit of the assets on July 19.
On September 22, Comcast (CMCSA) was announced the winner of a three-round auction held by the United Kingdom’s Panel on Takeovers and Mergers. Comcast bid $38.8 billion for 61% of UK broadcaster Sky. The shareholders and board of directors of Sky will most likely accept Comcast’s offer of 17.28 pounds per share by October 11 since it’s in the best interest of shareholders. Comcast beat Twenty-First Century Fox’s (FOXA) bid of 15.67 pounds per share.
Media consolidation will continue as companies compete for unique franchises and greater scale, 21st Century Fox Vice Chair Chase Carey says. As the sheer scale of spending by technology giants changes the nature of the media game, Carey says, mergers and acquisitions activity will likely continue. Media consolidation will continue as companies compete for unique franchises and greater scale, 21st Century Fox FOXA Vice Chair Chase Carey told CNBC on Tuesday.
Media consolidation will continue as companies compete for unique franchises and greater scale, 21st Century Fox Vice Chair Chase Carey told CNBC on Tuesday.
Disney (DIS) is set to appoint a number of Fox executives to key leadership roles upon completion of the 21st Century Fox acquisition.
FOX Nation will present long-form programming including documentaries, investigative series and patriotic specials, announced John Finley, Senior Vice President of Development of Production. Debuting later this fall, the new on demand subscription-based streaming service will be designed to enhance the FOX News viewer experience, offering exclusive content and access to daily short and long-form programming.
Former White House Communications Director Hope Hicks will become chief communications officer of Fox, the new company that will consist of 21st Century Fox Inc.’s entertainment and news assets not being sold to Walt Disney Co. The so-called new Fox will comprise Fox Broadcasting, Fox News and Fox Sports.
WASHINGTON—An ethanol group in a high-stakes battle with the oil industry devised its television advertising strategy with a single viewer in mind: President Trump. Its 30-second commercial with an Iowa corn farmer arguing for a higher percentage of ethanol in gasoline has been in rotation on Fox News since July. “We know he watches, so this is a good way for him to see it’s something the heartland wants,” said Leigh Claffey, spokeswoman for Growth Energy, which last week began running a new ad noting Mr. Trump’s commitment to the issue.
Hope Hicks, one of President Donald Trump's former top aides, is joining Fox as its new executive vice president and chief communications officer.
Hope Hicks , one of President Donald Trump's former top aides, is joining Fox as its new executive vice president and chief communications officer. Fox is a spin-off company that will be created by 21 Century Fox's merger with Disney. The 29-year-old's new role comes nearly eight months after she first announced her plans to resign as White House communications director.
Hope Hicks is best known as one of President Donald Trump's most trusted aides. After she left the White House, former Fox News executive Bill Shine took over a role similar to hers, as deputy chief of staff for communications.
Hicks' move represents a swap of sorts. After she left the White House, former Fox News executive Bill Shine took over a role similar to hers, as deputy chief of staff for communications.