Disney Announces Deal to Buy Fox’s Entertainment Assets; Bulking Up to Fend Off New Players
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...Twenty-First Century Fox is a media and entertainment company with operations in the following segments: Cable Network Programming, which consists of the production and licensing of programming distributed primarily through cable television systems and others; Television, which consists of the broadcasting of network programming and the operation of power broadcast television stations; Filmed Entertainment, which consists of the production and acquisition of live-action and animated motion pictures for distribution and licensing in all formats in all entertainment media worldwide, and the production and licensing of television programming worldwide; and Other, Corporate and Eliminations.
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