46.00 0.00 (0.00%)
After hours: 5:03PM EDT
|Bid||45.25 x 100|
|Ask||46.75 x 100|
|Day's range||45.90 - 46.38|
|52-week range||24.81 - 50.15|
|PE ratio (TTM)||21.27|
|Earnings date||8 Aug 2018|
|Forward dividend & yield||0.36 (0.73%)|
|1y target est||47.35|
Ryan McQueeney and Maddy Johnson take on this week's biggest stories, including the latest twist in the ongoing battle between Comcast and Disney to buy Fox assets, Google's new legal headache in Europe, and earnings report from the likes of IBM and Microsoft.
Rupert Murdoch had one more blockbuster deal in him. The 87-year-old mogul is poised to complete a $71 billion sale of selected 21st Century Fox Inc. assets to Walt Disney Co. While Murdoch’s track record is mixed -- the 2005 investment in MySpace was a half-billion dollars he never saw again -- this transaction will cement his legacy as one of the media world’s top wheeler-dealers. After competition from Comcast Corp. pushed Disney to boost its winning bid, Murdoch stands to add about $3 billion of Disney stock to what Bloomberg Billionaires Index estimates is already a $18.1 billion fortune.
Asian markets wobbled Friday on signs that China and the U.S. were preparing to impose more tariffs on each other's products. KEEPING SCORE: Japan's Nikkei 225 lost 0.5 percent to 22,652.42 and South Korea's ...
Comcast is dropping its bid for Fox's entertainment businesses, paving the way for Disney to boost its upcoming streaming service by buying the studios behind "The Simpsons" and X-Men. Getting Fox would help the House of Mouse compete with technology companies such as Amazon and Netflix for viewers' attention — and dollars. Disney needs compelling TV shows and movies to persuade viewers to sign up and pay for yet another streaming service.
21st Century Fox Inc. President Peter Rice is being considered for a role that would put him atop much of the TV businesses at Walt Disney Co., assuming the company completes a deal to buy Fox’s entertainment assets, people familiar with the matter said. In that position, Rice would supervise ABC and the Disney channels, potentially leading the way for other current Fox executives, such as Dana Walden and John Landgraf, to join the company, said the people, who asked not to be identified because the deliberations are still underway. Disney has agreed to pay $71 billion in cash and stock for the bulk of Fox’s entertainment assets, including its film and TV studio, cable networks such as National Geographic, and a chunk of the Sky Plc satellite-TV service in Europe.
Shares of Disney (DIS) surged over 3% in morning trading Thursday after Comcast (CMCSA) announced that it will no longer pursue key 21st Century Fox (FOXA) entertainment assets. Disney now looks poised to secure Fox's film and TV studio, as well as other properties, in a move that could propel the conglomerate in the age of Netflix (NFLX).
Comcast Corp. backed down from its pursuit of Rupert Murdoch’s 21st Century Fox Inc. on Thursday morning, allowing Walt Disney Co. to proceed with its own $85.1 billion acquisition of the assets, for which Disney has already obtained regulatory clearance (figure includes assumed debt). “I’d like to congratulate Bob Iger and the team at Disney,” read part of the statement from Comcast Chairman and CEO Brian Roberts conceding the deal.
Craig Moffett, founding partner at MoffettNathanson, discusses Comcast Corp. dropping its pursuit of Twenty-First Century Fox assets. He speaks with Bloomberg's Jonathan Ferro on "Bloomberg Daybreak: ...
Comcast Corp. will no longer seek to compete with Walt Disney Co.’s for a swath of 21st Century Fox Inc.’s entertainment assets, choosing to focus instead on winning control of the Sky Plc satellite service. The decision allows Disney to go ahead with its offer of $71.3 billion for Fox’s entertainment properties, which include a 39 percent stake in Sky. Comcast has offered about $25 billion for the U.K. pay-TV provider, including Fox’s stake, though it’s unclear if Disney will be willing to part with it.
Comcast Corp. will no longer seek to compete with Walt Disney Co.’s for a swath of 21st Century Fox Inc.’s entertainment assets, choosing to focus instead on winning control of the British pay-TV service Sky Plc. Following a bidding war with Disney, Comcast concluded that the price for the Fox assets was too high, according to a person familiar with the matter who asked not to be identified because the decision process was private. Comcast has offered about $34 billion for the U.K. pay-TV provider, including Fox’s stake, though it’s unclear if Disney will be willing to part with it.
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.
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.
After FCC Chairman Ajit Pai voiced his concerns over the proposed deal, shares of both Tribune (TRCO) and Sinclair (SBGI) plummeted. Just how important is it for the two firms to come together?
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.
Several U.S. giants are hard at work on their next acts overseas, though one of the world's biggest is bracing for a minor EU setback.
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.
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.
The 21st Century Fox Inc. chairman stands to be a big winner after rival Sinclair Broadcast Group Inc.’s plan to buy Tribune Media Co. was thrown into jeopardy on Monday. Ajit Pai, the chairman of the Federal Communications Commission, questioned the legality of the deal and proposed a hearing that could kill it. The sudden setback for Sinclair is the latest evidence of Murdoch enjoying a hot streak in the nation’s capital.
Stocks that moved substantially or traded heavily Monday: Bank of America Corp., up $1.23 to $29.78 The bank's profit and revenue were greater than analysts anticipated. Deutsche Bank AG, up 90 cents to ...