|
Post by scabab on Jul 19, 2018 16:42:55 GMT
uk.ign.com/articles/2018/07/19/comcast-drops-out-of-21st-century-fox-bidding-war-with-disney?abthid=5b50b88d5481591c36000563The Walt Disney Company's $71.3 billion offer for 21st Century Fox looks poised to go through. That's because telecom behemoth Comcast Corporation has pulled out of its bidding war with Disney for control of Fox. CNBC, which is itself owned by Comcast, first reported the news today. The report indicates that Comcast's decision is in part so that it can refocus on its acquisition attempts of UK telecom company Sky, which Fox itself has been competing with Comcast to acquire. Fox already owns 39 percent of Sky and has offered $32.5 billion for the other 61, while Comcast has recently bid $34 billion for that same stake.
|
|
|
Post by Lord Death Man on Jul 19, 2018 16:51:10 GMT
My condolences, they fought valiantly, but, in the end... All men must die.
|
|
|
Post by charzhino on Jul 19, 2018 19:04:53 GMT
Someone sue disney
|
|
|
Post by Hauntedknight87 on Jul 19, 2018 19:08:49 GMT
I hate the fact that the Rupert Murdoch is going to get that much money.
|
|
|
Post by Lord Death Man on Jul 19, 2018 20:45:11 GMT
I hate the fact that the Rupert Murdoch is going to get that much money. I'm not a big fan of the idea myself but, it would have been much worse with Comcast. That was structured as an all-cash deal. His biggest get with Disney is becoming a 17% sharholder in that company. I doubt that he'll try to liquidate his interest in Disney immediately after the deal closes. There are likely controls in place that prevent him from doing so.
|
|
|
Post by Spike Del Rey on Jul 19, 2018 21:14:58 GMT
I hate the fact that the Rupert Murdoch is going to get that much money. Another thing to keep in mind is that the cretin is older than dirt, and with any luck he'll be dead soon.
|
|
|
Post by DC-Fan on Jul 20, 2018 3:02:25 GMT
uk.ign.com/articles/2018/07/19/comcast-drops-out-of-21st-century-fox-bidding-war-with-disney?abthid=5b50b88d5481591c36000563The Walt Disney Company's $71.3 billion offer for 21st Century Fox looks poised to go through. That's because telecom behemoth Comcast Corporation has pulled out of its bidding war with Disney for control of Fox. CNBC, which is itself owned by Comcast, first reported the news today. The report indicates that Comcast's decision is in part so that it can refocus on its acquisition attempts of UK telecom company Sky, which Fox itself has been competing with Comcast to acquire. Fox already owns 39 percent of Sky and has offered $32.5 billion for the other 61, while Comcast has recently bid $34 billion for that same stake. There's still the matter of the lawsuit filed by a Fox shareholder. That lawsuit could be stuck in the court system for years.
|
|
|
Post by Vassaggo on Jul 20, 2018 6:56:54 GMT
uk.ign.com/articles/2018/07/19/comcast-drops-out-of-21st-century-fox-bidding-war-with-disney?abthid=5b50b88d5481591c36000563The Walt Disney Company's $71.3 billion offer for 21st Century Fox looks poised to go through. That's because telecom behemoth Comcast Corporation has pulled out of its bidding war with Disney for control of Fox. CNBC, which is itself owned by Comcast, first reported the news today. The report indicates that Comcast's decision is in part so that it can refocus on its acquisition attempts of UK telecom company Sky, which Fox itself has been competing with Comcast to acquire. Fox already owns 39 percent of Sky and has offered $32.5 billion for the other 61, while Comcast has recently bid $34 billion for that same stake. There's still the matter of the lawsuit filed by a Fox shareholder. That lawsuit could be stuck in the court system for years. Full disclosure: I actually own Fox and Disney stock. My uncle hasn't really told me the ramifications and what the actual process will be if the sale goes through. I know I become less diversified at a minimum. I am a little concerned that Fox and Disney merger is a horizontal one. They tend to cause more of a monopoly than vertical ones. I am less concerned with this one because it seems that Disney is trying to develop their own digital distribution to go along with their production. Mainly Disney gets a huge back catalog from Fox, they merge it with their own, they already own 33% of Hulu, they get Fox 33% of Hulu, and other infrastructure needs to be a market leader like Netflix, Hulu (they own majority now), Prime, etc. When it comes to production I don't think a lot will change at 21st Fox Productions. They get the Zeitgeist that is Disney's Promotion and bank roll. (Not the Mutant that spews energized goo from his face hole) If you go through the top movies by Fox There isn't a lot of movies that Disney Owned Fox would clash with. (I didn't say MCU vs Fox Universe Clash there will be some like R rated Deadpool. I don't think Marvel would've ever greenlit it, but now that it's a known quantity? Yeah I think they will. Disney is the company that owned Miramax and we got Pulp Fiction, Reservoir Dogs, Chasing Amy, and She's All That from. In other words Disney knows how to compartmentalize) Also I kind of want to see what Marvel does with X-men. (And Fantastic Four if Constantin Films doesn't retain it, that deal is merky) All that being said on a straight business side, taking all the fanboy nature out of the conversation. The lawsuit is based off of the needs of the stockholders to have information. They need to know the possible conflict of interest of Goldman Sachs, how Hulu was evaluated, etc. “Stockholders need such information in order to make a fully informed voting or appraisal decision. Stockholders will be forced to make a voting or appraisal decision on the proposed transaction without full disclosure of all material information concerning the proposed transaction being provided to them.” Fox calls it frivolous. It's true that this could slow down the proceeding. This is all on Fox. Basically he is saying that fox didn't do the due diligence on their side of the deal. With Comcast backing out there is no other offer on the table. Markets HATE uncertainty. With SEC and DOJ approving the deal and the deal worth more than the original the Fox Stock Holders have 2 options. They can rubber stamp the deal approving it or go through a undisclosed amount of time wondering what will happen. Those stock holders who want the latter can put their combined will behind the lawsuit. Basically, if they think the problems with their appraisal of the deal is problematic enough to warrant the stock tumble the uncertainty will cause then they will support it. On the other hand If they feel it's worth the risk the Fox Share Holders (along with Disney's Share Holders) will put there combined will and force on this court case. I could be naive and say the court system is an independent body that can't be influenced, but come one we all know differently. Let's say it will stay independent, part of me wants to believe that, but at the very least the combined might and influence at the very least will put this court case on a fast track. We are talking about the transfer of 70b worth of property, stocks and cash. If that amount of money doesn't buy you speed nothing will.
|
|