Fox News, Broadcast and Sports were spun off as a separate corporation (FOX) and started trading on NASDAQ this week. Down about 3% on first day.
(Disney bought all of 21 Century Fox’s libraries / production for $71 billion to expand their on line movie/ series products, among other synergies. The broadcast business not part of the deal, hence this new FOX entity.)
New tickers: FOXA (A class shares) and FOX (B class).
But, agree - as a new entity solely relying on TV assets, may take a less conservative approach; while on paper Murdoch is still calling the shots, people like Paul Ryan - that arch-conservative (/sarc) was just added to the new Board. Enough said.
It couldn’t be any plainer. They are shouting change big change. Bye-bye I left four years ago when I cut off my cable TV.