Lunes, 18 Diciembre, 2017

There's Another Player In That Potential Disney/Fox Deal

PM ET Murdoch Declines To Address Reports About Asset Sales Says ‘long-term value’ is focus of management PM ET Murdoch Declines To Address Reports About Asset Sales Says ‘long-term value’ is focus of management
Tobias Pedroso | 07 Diciembre, 2017, 17:50

However, any momentum on that deal has to deal with Comcast, who is also looking to make a bid on Fox.

In addition to Disney and Comcast, both Sony and Verizon Communications have been previously named as potential suitors.

News Disney had first gone in for Fox's TV and film businesses emerged early last month, but those negotiations led to nothing.

"At the beginning of this year, Fox was the only buy-rated stock I had because it was so depressed relative to everything else in the sector", Wieser said.

Media company Twenty-First Century Fox (FOXA.O), controlled by the Murdoch family, favors selling some assets to Walt Disney Co (DIS.N) as it is a better strategic fit and presents fewer regulatory hurdles, Bloomberg reported on Monday, citing people familiar with the matter.

Disney's studio entertainment operating income was $2.4 billion in fiscal 2017, up from $618 million in 2011. Comcast shares were down 1.56 percent.

FILE PHOTO: The logo of the Disney store on the Champs Elysee is seen in Paris, France, March 3, 2016. Along with a significant ownership of the streaming service, the deal would provide Disney with exposure to international markets, which is vital as the U.S. pay-TV industry continues to grow.

The transaction would involve Disney acquiring Fox's studio and television production assets - a portion of the business that has an enterprise value of more than $60 billion, CNBC's sources say.

The deal would leave Fox with is news and sports assets.