Walt Disney will acquire some assets of 21st Century Fox for $52.4 billion, Bloomberg News reports.
The deal, which has been in the works for weeks and was confirmed early Thursday, will see Disney buying Fox's film and TV studio, the National Geographic and FX cable channels business, regional sports networks, global networks, including Star India, Fox's 30 percent stake in Hulu and its 39 percent stake in European pay TV giant Sky. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox's interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.
The Competition and Markets Authority will continue to investigate the deal as a Murdoch-brokered takeover, pending Fox's Sky stake officially changing hands. One analyst said the sale was a sign that the Murdochs see the challenges that the entertainment industry has been dealing with, particularly cord cutting and competition from streaming video services, as increasingly hard to address. It is expected to be an all-stock transaction and Disney would assume some Fox debt.
Virushka: Go green for their special reception invite
The who's who of both the industries are expected to extend their warm greetings to Virat and Anushka at their wedding reception. There Anushka and Virat will complete some post-wedding rituals before heading to their new luxury apartment in Worli.
Industry insiders said the deal is a brilliant move by the Murdoch family since the traditional cable business is declining.
"This is the flawless time to be getting out". "Trying to get out now is absolutely the right move".
It's also important to spell out what Disney is not getting in the deal. Disney expects to launch its streaming services next year.
Liverpool frustrated again in West Brom stalemate
That's the second time in as many games that Liverpool have been robbed a win due to dodgy decisions from the referees . We were ready to work hard for this one moment, but it didn't happen so that's what we now have to accept.
Fox could expand its broadcast operations, helped along by a Federal Communications Commission vote on Thursday altering and possibly killing the national limit on local television station ownership. The Wall Street Journal and CNBC reported in November that Comcast and Verizon had approached Fox about buying at least part of the company, providing the first signs of a bidding war.
"It seems highly likely", Wieser said. "There is value to be created on that basis alone".
BYU to hire Jeff Grimes as offensive coordinator
Grimes is expected to remain on LSU's staff through the Tigers' game against Notre Dame in the Citrus Bowl on January 1. LSU expects Grimes to accept the job as BYU's offensive coordinator, ending his four-season tenure at the school.