Diversified Private Wealth Advisors President Dominick Tavella and Rosecliff CEO Mike Murphy on Comcast's bid challenging Disney's deal to acquire 21st Century Fox' entertainment assets and the outlook for Federal Reserve policy. This time the bid consists of both cash and stock, which is a significant rise from the $52.4 billion bid Disney submitted to Fox previous year, which they accepted.
While Fox's board has yet to make a decision, analysts and industry dealmakers widely expect Fox to say that Comcast's bid could potentially lead to a better deal for its shareholders.
Fox shares jumped 8 percent to $48.23, while Comcast rose 2.1 percent to $33.52.
The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32. "We remain convinced that the combination of 21CF's iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world", he said in a statement.
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The bidding war for 21st Century Fox continues.
Disney said the value of the assets - which include production companies responsible for "The Simpsons" and "Modern Family", as well as film production businesses - had increased compared to December due to tax reform and operating improvements.
As part of the deal, Disney will acquires 20th Century Fox, Fox's film studio, as well as a cable group that includes FX Networks, National Geographic and several global channels and regional sports networks. Upon parting ways with those properties, Fox will spin off its flagship broadcast network business and the Fox News and Fox Sports units to form a new standalone company. It's also roughly $6 billion more than the bid made by rival Comcast last week, which tallied in at around $65 billion (Comcast is the parent company of NBC Universal, which owns SYFY WIRE).
"I think Comcast would be the most leveraged company ever".
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With both sides failing to win their opening Group B match, there was a tense atmosphere inside Luzhniki Stadium prior to kick-off.
"Comcast, unfortunately, is going to be losing a Disney battle for the second time".
The deal became possible when Murdoch, 87, and his sons chose to slim down their media-entertainment empire, leaving them with the Fox News Channel, the Fox broadcast network and sports cable operations.
If Disney prevails, "Avatar" and other movies from Fox's studios would help beef up Disney's upcoming streaming service.
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"I look forward to seeing #ModernFamily through to the end and then, sale or no sale, setting up shop elsewhere", he added. He also called Jeff sessions a "fucking kidnapper" and asked all the Fox stars and executives to speak up.