Monday, 19 February, 2018

Disney And Fox Shares Edge Higher On Report Of Thursday Deal Announcement

Courtesy of Fox Searchlight Courtesy of Fox Searchlight
Nicole Thomas | 13 December, 2017, 00:29

Talks of possibilities of a Disney-Fox deal have been going on for quite a while now.

U.S. cable company Comcast has dropped out of the race for 21st Century Fox's entertainment and global assets, clearing the way for Disney to acquire a piece of Rupert Murdoch's media empire.

Disney, which owns the ABC television network and ESPN, is uninterested in acquiring Fox News Channel, Fox Sports or the Fox broadcast network.

According to other CNBC sources, the deal will just include Fox stock shares rather than full cash assets. If the deal closes, Disney would pick the best Fox assets that suit its current portfolio.

It would see Disney add 20th Century Fox, home to the Avatar and X-Men film franchises, to its own studio, as well as worldwide pay-television brands from Sky in the United Kingdom to Star in India, regional U.S. sports networks and Fox's stake in the Hulu digital streaming service.

How to watch the Geminids, 2017's best meteor shower, this week
Wednesday is expected to be rainy and wintry, so it's not looking hopeful for anyone who wants to see the Geminids at their peak. This year, a crescent moon will leave a relatively dark sky for the shower to populate with light.

Twenty-First Century Fox, Inc.

The company explained that they had attempted to review the benefits and were no longer "engaged" in doing so. Therefore, should the Disney deal go through, one would assume that Disney and Marvel would hold the distribution rights to Fantastic Four movies, but not the production rights - in effect, a reverse of The Incredible Hulk situation with Universal.

With Comcast out of the running as of Monday, it's now down to settling on a price for the assets. A Fox representative declined to comment.

Comcast shares were up 1.5 percent in after-hours trading, while Disney shares were up 0.2 percent and Fox shares fell 1.3 percent.

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