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Mickey Mouse now controls most of media. Disney buys Fox for 52.4 Million

black caesar
black caesar Members Posts: 12,036 ✭✭✭✭✭
https://www.cnbc.com/2017/12/14/disney-to-buy-21st-century-fox-assets.html

Bob Iger (R), CEO of Walt Disney Co. and Rupert Murdoch, Chairman and CEO of News Corp. Disney to buy 21st Century Fox assets in a deal worth more than $52 billion in stock
2 Hours Ago | 03:52
Disney on Thursday announced a deal to acquire many parts of Twenty-First Century Fox for $52.4 billion in stock. The company will get Fox's movie studios, networks Nat Geo and FX, Asian pay-TV operator Star TV, and stakes in Sky, Endemol Shine Group and Hulu, as well as regional sports networks.

The acquisition values the combined Fox business at $29.54 per share, based on Disney's closing share price Wednesday. The deal has a total value of approximately $66.1 billion, with Disney assuming $13.7 billion of Fox's net debt.

Shares of Fox were up fractionally in early trading; Disney traded 1.2 percent higher.

The acquisition bolsters Disney's plans to become a dominant streaming service platform, making it a bigger threat to Netflix.

"The more desirable content they have, the better they will be able to compete in terms of trying to sell a subscription offering at a time there's so much competition for subscription-based services," said eMarketer senior analyst Paul Verna.

Bob Iger will remain Disney's chairman and CEO through the end of 2021, at the request of the board of directors of both companies. Disney emphasized the importance of Iger to integrate the acquisition, saying in a statement that "extending his tenure is in the best interests of our company and our shareholders."

Iger, speaking shortly after the deal's announcement, said on Disney-owned ABC that Fox CEO James Murdoch, son of Rupert Murdoch, will help Disney with the transition.

"James and I will be talking over the next number of months. He's going to be integral to the integration process, and he and I will be discussing whether there is a role for him or not at our company," Iger said on "Good Morning America."

Burbank, California-based Disney said acquiring Fox will yield at least $2 billion in cost savings. Disney will issue about 515 million new shares to current Fox stockholders, who will have about a 25 percent stake in the new Disney.

Before the acquisition closes, the remaining Fox conglomerate will pay an $8.5 billion cash dividend to shareholders of Twenty-First Century Fox, with the former saying it expects to continue to pay out a "strong regular dividend."

Disney announced plans in August to start stand-alone streaming services and pull its movies off Netflix starting in 2019. No subscription price has been set for its upcoming movie and TV plan, but the company said it will be "substantially below" Netflix's price. Disney also will create a stand-alone ESPN digital service with access to 10,000 additional live sporting events.

Disney has said its content service will have a smaller library than Netflix. Still, it has some fan-favorite titles including its animated features, "Marvel" and "Star Wars" films. Adding Fox's repertoire of content — which includes the "X-Men," "Alien" and "Predator" franchises in addition to shows like "The Simpsons," "Family Guy" and "The X-Files" — will only make it stronger.

"Both companies are so deep in terms of what they have," Verna said. "The decision to subscribe to a streaming service often comes down to: 'Does the content match what I, as a consumer, am interested in?'"

On ABC Thursday, Iger said the new company doesn't expect to reach the "scale of Netflix quickly," but aims to be a major competitor.

The deal puts Netflix in a more precarious situation because it may lose some of this content. Netflix will also have tospend more to remain competitive. However, Netflix has already acknowledged it can't rely on other media companies' shows and movies and is focusing on its own content. The company has projected it will spend $8 billion next year.

The Disney-Fox merger solidifies Netflix's in-house production strategy as a smart one, Verna said. And since Netflix's service is already established, Disney will face a stiffer battle than Netflix, Verna said: The market is already full of over-the-top video companies that offer premium content without requiring a cable or satellite subscription. It also is unclear how many of Fox's titles Disney will get streaming rights for, as well as if it will pass federal antitrust laws.

"Would Netflix rather have all this Disney and Fox content?" Verna said. "Yes. Will they crumble as a result of not having it? I don't think so."
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Comments

  • Sion
    Sion Moderator, Legion of Trill, AHH Content Producer, AHH Editor Members, Moderators, Writer, Content Producer Posts: 45,666 Regulator
    DOPE
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    20th Century Fox fan fare in front of Star Wars movies again by 2020.
  • 7figz
    7figz Still don’t nothing move but the money Members Posts: 15,294 ✭✭✭✭✭
    edited December 2017
    Sion wrote: »
    DOPE

    What's dope about it - unless you made some money off of it ?

    You probably did tho - ol' investing ass MF.
  • infamous114
    infamous114 Down in Miami where it's warm in the winter. Members, Moderators Posts: 52,202 Regulator
    edited December 2017
  • Valentinez A. Kaiser
    Valentinez A. Kaiser Members Posts: 9,028 ✭✭✭✭✭
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    jono wrote: »
    This is horrible for the industry. The more Disney owns, the more it can control.

    While it might sound cool because muh X-Men are back with Marvel, this also means Disney eats up a big chunk of market share and yet another competitor is gone from the marketplace.

    Less competition is bad, almost always bad.

    Also the donations to the GOP from the Murdochs will be bumped up significantly.
  • TheBoyRo
    TheBoyRo Members Posts: 13,647 ✭✭✭✭✭
    I don’t care much for the movie side. So it looks like espn is gonna get all of Fox’s regional sports networks so no more Fox Sports Florida, Arizona, Detroit, etc
  • fortyacres
    fortyacres Members, Moderators Posts: 4,480 Regulator
    Bob Iger and the Devil

    dzsm9i6ekg1h.jpeg
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    edited December 2017
    TheBoyRo wrote: »
    I don’t care much for the movie side. So it looks like espn is gonna get all of Fox’s regional sports networks so no more Fox Sports Florida, Arizona, Detroit, etc

    No. The Murdochs keep Fox Sports and Fox News. Disney could not buy those cause of antitrust laws since they own ABC and ESPN. Disney has the entertainment networks (Fox, FX, FXX) and the film and television production studio.
  • Sion
    Sion Moderator, Legion of Trill, AHH Content Producer, AHH Editor Members, Moderators, Writer, Content Producer Posts: 45,666 Regulator
    jono wrote: »
    This is horrible for the industry. The more Disney owns, the more it can control.

    While it might sound cool because muh X-Men are back with Marvel, this also means Disney eats up a big chunk of market share and yet another competitor is gone from the marketplace.

    Less competition is bad, almost always bad.

    Media companies are seeing that content is the most important thing right now. And Disney now owns the Simpsons, Futurama and a whole bunch of content.

    Fox isn't the best company and Disney has always maintained its footing as number 1. People just don't perceive it as such because of the mouse and movies they make. Fox been looking to be bought for a long time that's why they spun out from News Corp.

    And I made recommendations for Fox a year and change ago BWHAHAHAHHAHAHA !!!!

  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    fortyacres wrote: »
    Bob Iger and the Devil

    dzsm9i6ekg1h.jpeg

    Some people would argue that they are one and the same.
  • black caesar
    black caesar Members Posts: 12,036 ✭✭✭✭✭
    jono wrote: »
    This is horrible for the industry. The more Disney owns, the more it can control.

    While it might sound cool because muh X-Men are back with Marvel, this also means Disney eats up a big chunk of market share and yet another competitor is gone from the marketplace.

    Less competition is bad, almost always bad.

    I said this on facebook:

    Even though it's cool that X-men will be combined with Disney, people are not seeing that they control a lot of media, and with this net neutrality repeal, it's going to be even more manipulation of media.
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    jono wrote: »
    This is horrible for the industry. The more Disney owns, the more it can control.

    While it might sound cool because muh X-Men are back with Marvel, this also means Disney eats up a big chunk of market share and yet another competitor is gone from the marketplace.

    Less competition is bad, almost always bad.

    I said this on facebook:

    Even though it's cool that X-men will be combined with Disney, people are not seeing that they control a lot of media, and with this net neutrality repeal, it's going to be even more manipulation of media.

    Yep you'll see if 🤬 gets repealed. Disney's On Demand service and Hulu (since they will now own Fox's stake in that company as well as their own) will magically become the only streaming services that will be available with decent streaming velocity. Netflix dons about to have a serious sitdown.
  • Idiopathic Joker
    Idiopathic Joker PISTOL GRIP PUMP IN MY LAP AT ALL TIMES Working On My LowriderMembers, Moderators Posts: 45,690 Regulator
    jono wrote: »
    This is horrible for the industry. The more Disney owns, the more it can control.

    While it might sound cool because muh X-Men are back with Marvel, this also means Disney eats up a big chunk of market share and yet another competitor is gone from the marketplace.

    Less competition is bad, almost always bad.

    Still have Sony, Warner Brothers, Universal, plus countless independent companies. Filmmakers haven't needed Hollywood since 2005
  • 2stepz_ahead
    2stepz_ahead Who I am is Complex, What i am, simply put. I'm a Threat walking out the lions denGuests, Members, Writer, Content Producer Posts: 32,324 ✭✭✭✭✭
    50 has a deal with disney.....

    hmmmm
  • fortyacres
    fortyacres Members, Moderators Posts: 4,480 Regulator
    Broddie wrote: »
    fortyacres wrote: »
    Bob Iger and the Devil

    dzsm9i6ekg1h.jpeg

    Some people would argue that they are one and the same.

    last time i checked one of them founded fox news and owns biased racist british tabloids.
  • [Deleted User]
    [Deleted User] Posts: 0 Regulator
    The user and all related content has been deleted.
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    fortyacres wrote: »
    Broddie wrote: »
    fortyacres wrote: »
    Bob Iger and the Devil

    dzsm9i6ekg1h.jpeg

    Some people would argue that they are one and the same.

    last time i checked one of them founded fox news and owns biased racist british tabloids.

    Sure and the other runs Disney which many have considered to be an institution of Lucifer himself since the 1940s.
  • Broddie
    Broddie just me and my bitch NYCMembers Posts: 11,750 ✭✭✭✭✭
    Does this include Fx?
    So disney owns Archer and It's Always Sunny?

    Yes.
  • Max.
    Max. Members Posts: 33,009 ✭✭✭✭✭
    edited December 2017