Thursday, 23 May, 2019

Disney's £50bn takeover of Fox to become official next week

Disney Co DISNEY Sets Closing Date for 21st Century Fox Acquisition
Jean Garcia | 15 March, 2019, 05:42

Winning Mexico's consent was the final hurdle for Disney to wrap up its 9-month quest to secure all of the government approvals that it needed.

The 71 billion USA dollars deal gives Disney the prized 20th Century Fox studios and other media production units.

The big money takeover of 21st Century Fox by the Walt Disney Company could become official in a matter of days, according to Disney boss Bob Iger.

Under the deal, Disney will pick up the 21st Century Fox Movie Studio, a controlling stake in streaming giant Hulu, and several cable channels.

Footage Released of Conor McGregor Stomping Out a Cell Phone
The alleged victim, Ahmed Abdirzak of England, were both exiting the Fountainebleu Hotel at around 5:20 a.m. when they met. McGregor was recently released from jail after being arrested and charged with robbery and criminal damage in Miami.

Disney said Tuesday that 21st Century Fox shareholders will have until Thursday to choose the amount of cash and Disney stock to receive in the transaction; Fox shareholders will receive a mix of cash and stock valued at $38 a share in the deal.

Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly. "Eastern Time on March 20, 2019", Disney said in a regulatory filing. "While our base-case forecast shows that Disney could reduce leverage back to under 2x (the downside threshold for the prior 'A+' issuer credit rating) within two years, we believe Disney faces internal and external challenges that could delay that deleveraging process, resulting in adjusted leverage remaining above 2x", S&P wrote in a note. As in Brazil and other countries, the IFT unanimously agreed to give its green light to Disney's purchase as long as it agreed to sell Fox's 22 regional sports networks.

Disney already owns the ABC broadcast television network, sports broadcasting group ESPN and major Hollywood film studios along with theme parks around the world.

Former Warner Bros. executive Craig Hunegs will be president of Disney Television Studios.

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