Morningstar - Walt Disney Company (DIS) Comcast Formalizes Intent to Bid for Fox; Impetus Is Potential Shareholder Vote at Fox

Report

Morningstar

Neil Macker

Comcast Formalizes Intent to Bid for Fox; Impetus Is Potential Shareholder Vote at Fox

Comcast issued a press release on May 23 stating that it is "considering, and is in advanced stages of preparing, an offer" for the assets that Twenty-First Century Fox is selling to Disney. If it makes an offer, Comcast will present an all-cash offer for the assets that is higher than Disney's current all-stock bid. Management assured Fox shareholders that its offer "would be at least as favorable to Fox shareholders as the Disney offer" with respect to the spinout of "New Fox" and the regulato...

24/05/2018 15 EN

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.

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US2546871060 New York Stock Exchange United States

Provider

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.

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Analysts

Neil Macker

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Media Consolidation: Will FOX (Like CMSCA and DIS) Be in a Trump Transaction Penalty Box? (Just Asking Questions)

As the Skydance/Paramount deal has demonstrated, the Trump FCC will address media transactions through a political lens. In this note, we discuss the implications for the sector of FOX potentially finding itself in the same position as CSMCA and DIS when it comes to the upcoming media consolidation, as well as other implications of the Colbert Affair and the federal defunding of PBS.

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No-moat Sasol provided an update on its full-year fiscal 2019 production metrics that included relatively stable liquids production. For the full year ended June 30, Sasol produced 1,470 thousand barrels of crude oil and condensate a day compared with 1,469 mboe/d in the year-ago period. However, declines continued with the companyâ€™s natural gas production, down 4% to 130.3 billion cubic feet compared with the period ended June 30, 2018. Sasol also reported flat refined products of 31.4 mmboe/d ...

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Comcast Formalizes Intent to Bid for Fox; Impetus Is Potential Shareholder Vote at Fox

Walt Disney Co: 1 director

Could the Trump/Carr Gambits Against CMSCA (and DIS) Backfire?

Media Consolidation: Will FOX (Like CMSCA and DIS) Be in a Trump Transaction Penalty Box? (Just Asking Questions)

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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