Posted on 12/14/2017 10:28:49 AM PST by Honest Nigerian
LOS ANGELES — The Walt Disney Company said on Thursday that it had reached a deal to buy most of the assets of 21st Century Fox, the conglomerate controlled by Rupert Murdoch, in an all-stock transaction valued at roughly $52.4 billion.
(Excerpt) Read more at nytimes.com ...
Disney = America’s Ministry of Culture
Frankly they are all owned by the same person at this point.
Absurd how this has happened so easily.
No, it doesn’t.
Don’t change the title to ask an ignorant question.
I don’t like the Monopoly Creep this move seems to indicate.
Disney is no longer seen as Family Friendly in most of it’s
endeavors.
From what I understand, Disney is getting the Entertainment side (esp. the Film studio assets), but not the news and pubs side.
You are correct.
My reading is that he is selling the film and entertainment divisions (and also National Geographic, which I didn’t know he owned), but will retain the news operations, including cable and local network Fox broadcast operations.
Fox newspapers not included in the deal......
You should not change the title of the article: “Disney Makes $52.4 Billion Deal for 21st Century Fox in Big Bet on Streaming.”
Make comments and ask questions in the comments.
Yes, they will both become Mickey Mouse operations.
Excuse me, but a lot of my questions are ignorant.
So did I violate some forum (or other) rule?
Do I need to go in and change the title?
And are these ignorant questions? (Or am I too stupid to know that I was not even insulted?)
To prevent duplication, please do not alter the published title. Thank you.
“Does this mean that ABC and The Wall Street Journal will both be owned by Disney?”
ABC has been owned by Disney since 1996.
From the article:
“Not included in the acquisition: Fox News, the Fox broadcast network and the FS1 sports cable channel. Mr. Murdoch said he would spin those businesses and a handful of other properties, including the 20th Century Fox lot in Hollywood, which Disney is not buying, into a newly listed company.”
https://www.wsj.com/articles/disney-finalizing-pact-to-acquire-assets-from-21st-century-fox-1513203075
“”The deal would mark a significant turn for Rupert Murdoch’s media empire after decades of expansion that created a titan in the entertainment industry. The remaining Fox assets, which would be spun off as part of the transaction, would include the Fox News cable channel, the Fox broadcast network and the Fox Sports 1 sports channel. Fox also will retain real estate including its studio lot in Los Angeles, people familiar with the situation say.
Mr. Murdoch has contemplated eventually merging the remaining Fox assets with News Corp, parent of The Wall Street Journal, people familiar with the matter say. The Murdoch family owns 39% voting stakes in both companies. Such a merger is unlikely in the near term given complexities including how to manage the potential tax bill, the people say.””
The best part of that chart is that Fox Business News is not going to Disney.
“did I violate some forum (or other) rule”
Yes.
You changed the title of the article.
That’s right!
This sale of some assets to Disney (NYSE:DIS) creates a spin-off of an "old Fox":
"New Fox" keeps: Fox News Channel (FNC), Fox Business Network (FBN), Fox Telvision Stations Group, Fox Sports, sports cable networks FS1 and FS2, Fox Deportes and Big Ten Network (BTN), Fox studio lot in Los Angeles and investment in Roku.
Disney acquires: Fox film production business (Twentieth Century Fox, Fox Searchlight and Fox 2000) and related film libraries, Twentieth Century Fox TV, Fox Productions and Fox21, FX Networks, Fox Sports Regional Networks, Fox Networks Group International, Star India, and 21st Century Fox's interests in National Geographic Partners, Hulu, Sky, Tata Sky and Endemol Shine Group. Also Sky (UK) when it is expected to complete acquisition in 2018.
One big catch here is Fox's 30% stake in streaming OTT operator Hulu which combined with 30% already owned by Disney, gives Disney majority control.
"The spin-off transaction will be taxable to 21st Century Fox, but not to its shareholders. The new Fox will receive a step-up in its tax basis commensurate with the amount of the corporate tax relating to the spin-off that will generate annual cash tax savings over the next 15 years."
Disney is after HULU. They have said they will be pulling their movies off the cable networks and that’s where they will go.
Money, money, money by the pound.
rwood
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.