Wednesday, 17 January, 2018

Disney Would Pay Up To $29 A Share For Fox Assets

Cheddar Afternoon Business Update 12/12: Fox, Tesla semi-trucks, Apple GymKit Disney Would Pay Up To $29 A Share For Fox Assets
Freda Brock | 15 December, 2017, 16:18

Comcast and Disney were seen as the leading bidders, but Comcast dropped its bid on Monday, leaving Disney in the pole position.

The Financial Times said talks about the price were continuing on Tuesday.

As Disney and Fox approach the altar, shares in both media companies are on the rise, with CNBC reporting that the mega-merger is "on a glide path" toward an announcement on Thursday. Fox's cable and global assets in question are reportedly FX, National Geographic, its stake in Hulu, Star's India TV and a 39% stake in United Kingdom -based Sky.

It would also add to Disney's extensive film and television library, with movies such as Avatar and Deadpool, as well as small screen hits including The Simpsons and Modern Family.

"According to Variety, cable provider Comcast (and SYFY WIRE corporate parent) is "'no longer' looking at Fox's film and TV studio and other assets as acquisition targets".

Samsung and LG expected to launch their midrange lineup at CES 2018
However, according to prolific leaker Ice Universe, Samsung has chose to cancel the plan to reduce the Galaxy S9 bezel. While the Galaxy S8 Plus launched with a 6.2-inch screen, the exclusive renders feature a 6.1-inch display.

Mr Murdoch's decision to sell most of Fox has surprised many commentators given his desire to continually expand his media empire over the past five decades.

Ms Bradley shifted Fox's proposed takeover of Sky to the Competition and Markets Authority (CMA) for a full inquiry earlier this year after a three-month probe by Ofcom.

Sky shares edged almost 0.5% higher on Wednesday, having surged in recent days on reports that Fox and Disney are edging towards a deal.

Fox up 1% to $34.11, with Disney gaining a fraction to $107.22.

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