Report
Neil Macker
EUR 101.80 For Business Accounts Only

Dominant cable networks and branded franchises give Disney pricing power.

Fox and Disney announced that Disney will purchase the entertainment assets of Fox for $52.4 billion in stock plus the assumption of $13.7 billion in net debt from Fox. Fox shareholders will receive 0.2745 Disney shares in exchange for these assets, and will retain their current shares of Fox and its remaining assets. We believe the deal is more likely than not to gain regulatory approval, but the acquisition of Fox's regional sports networks by the owner of ESPN could be a sticking point. We ar...
Underlying
Walt Disney Company

Walt Disney is an entertainment company. The company's segments are: Media Networks, which includes domestic cable networks, broadcast television network and domestic television stations, and television production and distribution; Parks, Experiences and Products, which includes theme parks and resorts, and consumer products operations; Studio Entertainment, which includes motion picture production and distribution, music production and distribution, and post-production services; and Direct-to-Consumer and International, which includes international television networks and channels, direct-to-consumer streaming services, and other digital content distribution platforms and services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Neil Macker

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