110.10 -0.59 (-0.53%)
Pre-market: 7:30AM EDT
|Bid||110.00 x 2200|
|Ask||110.40 x 900|
|Day's range||109.65 - 111.06|
|52-week range||96.20 - 113.19|
|PE ratio (TTM)||14.83|
|Earnings date||7 Aug 2018|
|Forward dividend & yield||1.68 (1.60%)|
|1y target est||116.29|
Last week, cable and media conglomerate Comcast (CMCSA) increased its bid to 26 billion pounds (or $34 billion) to buy a 61% stake in London-based pay-TV company Sky soon after rival bidder Twenty-First Century Fox (FOXA) upped its bid to 24.5 billion pounds (or $32.5 billion) for Sky. The independent directors of Sky have recommended the Comcast offer. Fox has decided to sell this stake to Walt Disney (DIS) along with other media and entertainment assets for $71.3 billion.
Walt Disney (DIS) recently won the endorsement of two influential proxy advisers for its $71.3 billion bid for the media and entertainment assets of Twenty-First Century Fox (FOXA). Firms such as Institutional Shareholder Services (or ISS) and Glass Lewis are backing Disney’s deal for Fox assets and therefore recommend Fox shareholders vote in favor of the Disney transaction during the scheduled July 27 investor meeting.
Friday, July 27, is shaping up to be a big day in the battle between Comcast Corp. and Walt Disney Co. for control of most of Rupert Murdoch’s media empire -- on both sides of the Atlantic. In the U.S., 21st Century Fox Inc.’s shareholders are set to vote on Disney’s $71 billion bid for the company on that day. Coincidentally, U.K. officials are due to review the value of a key pawn in the three-dimensional game of M&A chess -- Fox’s 39 percent stake in British pay-TV company Sky Plc.
The US government has recently decided to appeal AT&T’s (T) takeover of Time Warner, which closed last month after a federal court approved the merger following a six-week trial. The appeal by the Justice Department (or DoJ) has thus cast more doubt on the chances of Comcast (CMCSA) winning Twenty-First Century Fox (FOXA) assets.
Sony (SNE) has joined other streaming video providers in raising its service price. Sony’s PlayStation Vue’s price is rising $5.0 per month, meaning that the cheapest plan will now cost $44.99 per month compared to $39.99 previously. The most expensive Vue plan will cost $79.99 per month.
Both Comcast (CMCSA) and the Walt Disney company (DIS) are eyeing significant holdings of Twenty-First Century Fox (FOXA). The assets include Fox’s film and TV studios, cable networks FX, Fox Sports Regional Networks, Fox Networks Group, stakes in National Geographic Partners, Indian satellite TV group Star India, Hulu, UK-based satellite TV group Sky, and other vital assets.
While the final chapter of this tale has yet to be told, there are reasons to believe that the House of Mouse will prevail in its bidding war against Comcast.
Netflix Inc.’s stock rebounded from its steepest drop in two years, as investors went past disappointing quarterly earnings to focus on long-term growth. “Long-term fundamental trends remain intact,” RBC Capital Markets’ Mark Mahaney, who recommends buying the shares, wrote in a note to investors. The stock has been volatile in the past when its earnings deviated from forecasts because investors are trading on future potential rather than current earnings.
Two entertainment giants, Walt Disney (DIS) and Comcast (CMCSA), are fighting over the assets of Twenty-First Century Fox (FOXA). Those assets include a 39% stake in London-based Internet service provider Sky. Fox and Comcast are both looking to acquire a 61% stake in Sky.
An increasing number of companies are planning to launch their streaming service and are fast trying to invade Netflix's space.
The Walt Disney Company (DIS) is set to acquire most of the media and entertainment assets of Twenty-First Century Fox (FOXA). Disney’s half cash and half stock offer values Fox at $71.3 billion, which is better than Comcast’s (CMCSA) all-cash $65 billion proposal made last month just a few weeks before Disney’s bid.
Last month, the board of Twenty-First Century Fox (FOXA) decided to go ahead with the Walt Disney Company’s (DIS) deal to sell most of its media and entertainment assets for $71.3 billion. The move has put rival bidder Comcast (CMCSA) under pressure to either hike its bid or move away from the deal. Disney initially made an all-stock bid of $52.4 billion in December 2017 and then raised its offer to $71.3 billion in cash and stock on June 20.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains dives into the current state of sports betting in the U.S. after daily fantasy sports power FanDuel opened its first sportsbook over the weekend. The conversation then shifts to the continued rise of esports and their importance to media companies after Disney's (DIS) big announcement last week.
For the first time, Walt Disney Co. spelled out for investors that 21st Century Fox Inc. may choose not to increase its takeover offer for British broadcaster Sky Plc. The revelation boosted speculation that Disney and Comcast Corp. may carve up Rupert Murdoch’s media empire, with Comcast possibly taking control of U.K. pay-TV operator Sky while Disney acquires Fox’s media assets. “There’s a perfectly logical scenario where Disney gets Fox and now Comcast gets Sky, simply because the consequences of paying a huge amount for companies are very unpleasant,” said Claire Enders, founder of media research firm Enders Analysis, by phone.
Last month, the Walt Disney Company (DIS) received federal approval from US regulators to buy a majority of the media and entertainment assets of Twenty-First Century Fox (FOXA) for $71.3 billion. Disney’s deal with Fox has raised concerns for Comcast (CMCSA), which wants Fox assets in order to fight streaming giants Netflix (NFLX) and Amazon (AMZN).
The stock of London-based Sky hit an 18-year high on Thursday after Twenty-First Century Fox (FOXA) and Comcast (CMCSA) both upped their bids to buy a 61% stake in Sky. The stock rose to 15.41 pounds that day and closed ~2.7% higher at 15.34 pounds after Comcast valued the company at ~26 billion pounds (or $35 billion). Sky stock has gone up 95% since Fox made its first bid of $15.5 billion in December 2016.
Twenty-First Century Fox (FOXA) and US broadcaster Comcast (CMCSA) are in a bidding war for London-based broadcaster and Internet service provider Sky, in which Fox already owns a 39% stake. Fox started with a bid of $15.5 billion in December 2016 for the remaining 61% stake, which was overtaken by Comcast’s higher bid of $31 billion. Fox made a higher offer of $33 billion but was outbid again by Comcast’s sweeter offer of $34 billion.
The game-maker's Overwatch League esports tournament was already successful in its debut season, but this announcement takes it to a whole new level.
Strong in-game content sales helped EA record two quarters of solid earnings results and send its stock price to record highs.