HOTT 95.3 FM

Hott 95.3FM............Feel The Heat!

ENEWS

Disney to Buy 21st Century Fox Assets for $52.4 Billion in Historic Hollywood Merger

Posted by Admin on December 15, 2017 at 7:35 AM


The Walt Disney Co. has set a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire. The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights and a bid by Disney to bolster its core TV and film businesses against an onslaught of new competitors in the content arena.


Key elements of the transaction unveiled Thursday morning:


  • The deal values the 21st Century Fox assets in the transaction at $66.1 billion, including $13.7 billion in 21st Century Fox debt, or $28 a share. The enterprise value of the deal is $69 billion.
  • Disney chairman-CEO Bob Iger has extended his contract with the company for another two years, through the end of 2021, in order to oversee the integration of the assets.
  • 21st Century Fox shareholders will receive 0.2745 Disney shares for each Fox share held, giving Fox shareholders about 25% of Disney.
  • 21st Century Fox will spinoff Fox Broadcasting Co., Fox Sports, Fox News, Fox Television Stations and a handful of other assets into a new company that will have revenue of $10 billion and earnings of about $2.8 billion. The 20th Century Fox lot in Century City will also remain with the spinoff Fox company.
  • 21st Century Fox will continue to pursue its acquisition of the remaining 61% stake in Euro satcaster Sky that it does not already own with the intention of Disney taking it over when the Disney-Fox transaction is completed.
  • Disney expects to realize $2 billion in cost savings from combining Disney and Fox’s overlapping businesses within two years of the deal’s closing.
  • Disney expects the regulatory review of the acquisition to take as long as 18 months.


Read More at Variety

Photo credit: Marvel Studios 

Categories: None

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

Already a member? Sign In

1 Comment

Reply lilaluna
5:31 AM on January 13, 2018 
Massive post. Really good-looking blog. A lot of blogs, I observe these days don't really present anything that I'm interested in .but I'm most definitely interest in this one. I am in reality happy with article quality and direction. This post is mark on in helpful how some thought apply to any script point. Thanks a lot for protection enormous things. I am enormously a good deal thankful used designed for this place.
https://www.buybestessaysonline.com/about-us.html