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renegadebusdallas.com November 22, 2017


Twenty-First Century Fox And Walt Disney Said To Be In Talks

08 November 2017, 12:34 | Lionel James

21st Century Fox Disney

21st Century Fox Disney

It did discuss buying Fox's movie and TV production studios, cable networks FX and National Geographic and global assets such as the Star network in India and European pay TV provider Sky Plc, CNBC said.

Disney was reportedly interested in buying networks such as National Geographic and FX, among others. It also could extend Disney's reach into worldwide markets.

A deal would exclude the Fox broadcast network because Disney could not own two broadcast networks, the report said.

What do you get if you combine Disney with parts of 21st Century Fox?

One Wall Street said any potential asset sale will not come cheap.

Murdoch, 86, began a gradual withdrawal from both companies in 2013, and now shares the title of chairman with his eldest son Lachlan at both firms.

According to CNBC, the talks have taken place over the last few weeks but there is no guarantee a deal will be finalized and the two sides are not in talks at the moment.

Qualcomm up after rumor of Broadcom interest
Qualcomm shares rose as much as 13 per cent in NY in their biggest intraday move since 2008, valuing the company at $92-billion. The only other major supplier of high-end chips is Intel Corp, which supplies about half of the modem chips in Apple's iPhones.

Reports say the companies have been negotiating off and on for the last few weeks, with no deal now on the table.

That's because, long before it became a blockbuster studio that would be bought by Disney in 2009 for $4 billion, Marvel sold off the film rights to several of its popular characters to various studios.

EFFECT ON SPORTS? Former FCC Omnibus Broadband Initiative Exec Dir Blair Levin said of a potential deal not involving Fox Sports assets, "I don't know that the antitrust regulators would regard sports as a separate content network, but ... they might since (ESPN) is the primary network that people watch live, and therefore, that changes everything in terms of audience and advertising share" ("Power Lunch", CNBC, 11/6). The proposed purchase would have made Disney a more "formidable media conglomerate at a time when AT&T is trying to swallow" Time Warner (L.A. TIMES, 11/7).

Fox was not immediately available for comment. It also owns video on demand (VoD) service Hotstar and a movie production and distribution business Fox Star Studios.

"Based on our SOTP [sum of the parts] analysis in a deal, we believe FOX is worth about $39/share, 40% above current levels".

CNBC could not learn the possible structure of the deal between Fox and Disney, nor could the price that is being discussed be determined. Nathan: "So now if they start to way overpay for original content, they could - 10 years from now - find themselves in a very similar situation" ("Fast Money", CNBC, 11/6).



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