Tag: fox

Comcast Challenging Disney For Fox Assets With Estimated $60 Billion Bid

You may want to get some pop corn and get ready to watch the show, because the battle for Fox isn’t over. Comcast is jumping back into the race for Fox with Estimated $60 Billion offer.

On Wednesday, Comcast confirmed that it’s in the “advanced stages” of making an offer. The company provided very few details other than it would it be an all-cash offer. Disney offered Fox a $52.4 billion all-stock deal late last year, and shareholders are expected to vote on the offer this summer. Comcast is hoping to sneak in with this all-cash offer ahead of that vote.

Last year, even though it exceeded Disney’s offer, Fox’s board rejected Comcast’s original bid, because they believed it was more risky with regulators to get approval. Now it seems that another major deal — Time Warner and AT&T — might actually go through. If it does, Comcast could potentially acquire parts of Fox without alarming regulators.

The Fox assets — which range from international pay-TV distribution to cable networks and a stake in streaming giant Hulu — are some of the most-prized entertainment properties likely to come on the market for some time, and the Murdoch family’s willingness to sell these assets has come as a surprise to many in the media industry.

The rare acquisition opportunity, combined with the need to significantly expand overseas and acquire new distribution and content, is adding a dimension of urgency for both Comcast and Disney.

May 25, 2018
Disney Filing Discloses Fox’s Reasons For Rejecting Comcast Bid

In a filing made by Walt Disney Co with the Securities and Exchange Commission today, in their efforts to acquire Fox’s film and TV assets, we now know Fox’s reasons for rejecting Comcast’s offer.

Walt Disney Co announced the purchased most of 21st Century Fox’s assets back in December in a deal worth $52.4 billion. At the time it was well-known that Comcast Corp had also been bidding on the assets, but they eventually bowed out.

In documents filed with the SEC today, Disney disclosed Fox’s reasons for rejecting the rival offer without disclosing the bidder.

The documents state that Fox rejected a deal with another entity — that multiple sources have identified as Comcast Corp — due to higher regulatory risks.

April 18, 2018
Bob Iger Officially Extends Contract As Disney CEO Through 2021

So it looks like any potential presidential run for Chairman and Chief Executive Bog Iger in 2020 is now on hold. Thursday Walt Disney Co. announced that his contract with the mouse has been extended through December 2021.

The move comes on the heels of Disney announcing its $52.4-billion deal to buy much of 21st Century Fox’s media assets. Iger’s contract extension is no surprise and was expected in the hopes of giving the company stability as it integrates Fox’s assets.

Iger is no stranger to bringing in new assets and integrating them into the Disney family. After taking over in 2005 he led the acquisitions of Pixar, Marvel, and Lucasfilms giving him experience like no one else. He has the most experience and makes the most sense if the deal is to succeed. The deal is valued at more than $50 billion and a smooth transition is exactly what investors want.

Disney said Iger was staying “at the request of both 21st Century Fox and the Disney board of directors.” The company’s overall stock-market value has soared with Iger at the helm and the consistency should keep the board and investors at ease.

Under the terms of his new contract Iger would be well compensated for his efforts, he is expected to receive more than $100 million in stocks based on Disney’s current stock market value.

According to a regulatory filing his base salary will increase 20% at the beginning of 2018 bringing him to $3 million a year. That will rise to $3.5 million once the Fox transaction closes.

The deal gives Disney even more time to find a suitable successor. It will take time to get the necessary federal approvals for the acquisition and even time to integrate the assets after that. Disney has some potential internal candidates in consideration, but it seems increasingly likely the company will look for an outside candidate. It is still possible the deal would see James Murdoch as a replacement after the integration is complete and Iger steps down, but Disney has yet to offer him any position in the company.

December 18, 2017
Disney Buys 21st Century Fox for $52 Billion

Walt Disney Co. will purchase 21st Century Fox in deal that brings an end to era of the ‘Big Six’ studios. Disney Now takes ownership of one of the United States’ largest movie studios in a deal that solidifies their position as media super giant. With this deal Disney now owns seven of the top ten worldwide highest grossing movies of all time.

Founded in 1935 with the merger of Twentieth Century Pictures and Fox Films, the studio was in its earlier years known for stars like Henry Fonda and Shirley Temple and films including “Gentleman’s Agreement,” “The Sound of Music” and the Liz Taylor-Richard Burton epic “Cleopatra,” which became a cinematic icon but nearly bankrupted the studio during its troubled production. In 1977 it released “Star Wars,” the beginning of a relationship with George Lucas that would span six films and generate $4.6 billion at the box office.

There was so much more at stake here for Disney than the obvious rights to the X-Men and Fantastic Four brands. They now finally have the distribution rights for the original Star Wars trilogy and prequel trilogy. Most of those rights reverted back to Disney in 2020, but the original 1977 film’s rights would have remained at Fox.

Another bonus is the Avatar franchise. With an entire land devoted to the franchise holding ownership over it was of great importance to the company. James Cameron’s Avatar is a potentially massive film franchise that Disney already has a vested interest in seeing succeed. It means potentially huge business not just at the movie theater, but also when it comes to merchandise and theme park success.

Disney now get its hands on the FX channel. And of course the vast, impressive, lucrative library of Fox movies and TV series from past and present, to add to their upcoming streaming service and, probably, to deny those movies and series to Netflix, along with the Disney, Marvel, Pixar, and Lucasfilm properties.

Disney also gets Fox’s 30 percent stake in Hulu. Disney already has a 30 percent stake in Hulu, so that arrangement now gives the company majority ownership of the streaming platform. And as Disney prepares to launch its own streaming services in 2019, it could become an actual contender against Netflix by combining its existing content with Fox’s movie, television and sports content.

The Murdoch family will continue to maintain ownership over the sports and news divisions while Disney would get the studio rights to everything on the film side according to the report.

Only time will tell, but it seems Bob Iger has positioned Disney once again in a pivotal position in the market.

December 14, 2017
Avatar Very Important Piece to Disney Fox Deal

As what could be considered one of the largest media deals of all time, with Disney buying up assets from Fox, could be announced as early as tomorrow, so many fans are focused on the multiple Marvel titles and characters that could be brought home to the company who purchased Marvel for $4 Billion in 2009. But another possible acquisition that deserves a deeper look, if the deal goes through, is that of Avatar and the four sequels that are being directed by James Cameron.

With an entire land devoted to Avatar at Animal Kingdom in Walt Disney World, Disney already has a vested interest the film franchise, but it means more than another blockbuster at the theater. It also gives them licensing and merchandise rights. Disney’s theme parks and retail stores will be filled with little ‘plush banshees’ and every other merchandising opportunity they can come up with.

Avatar is still the highest grossing movie of all-time and with multiple sequels on the way, Avatar gives Disney yet more chances to continue its streak of smashing worldwide box office records. If this deal goes through you could count Disney as owning seven of the top ten worldwide highest grossing movies of all time. Worldwide Avatar is still extremely popular, but If the sequels don’t rival the success of the original, it will still be a win even if they bring in just a small fraction of the money that the first film did.

During a recent interview, director James Cameron was asked what it would mean to him if the movie studio was sold to Disney. “Probably not that much,” answered Cameron. He says he’s “always had a good relationship with Fox,” so any sale to Disney “wouldn’t be bad,” he explains. He says Disney “actually at this point in time has a bigger investment” in the franchise than Fox.

Disney and Avatar have been working together on their joint theme park venture for some time and the relationship has been mutually beneficial. The newest addition to Disney’s Animal Kingdom, Pandora – The World of Avatar has been a huge success, but the chance to bring the entire franchise into the Disney fold makes the possibilities limitless for the company.

How they will integrate the various Fox assets if the deal goes through has been a big question, but integrating this into their portfolio will be as easy as bringing the X-Men into the Marvel Cinematic Universe.

Bringing home the rights to the original Star Wars film along with several key Marvel titles are extremely important, but if you consider the total revenue that adding Avatar to the mix could bring in, this could end up being the most important piece of the pie.

December 13, 2017
Bob Iger Could Remain CEO in Disney and Fox Deal

The Disney-Fox deal is heating up once again with new details and this may put investors and the public more at ease. Bob Iger may extend his contract and remain CEO beyond 2019 if the deal goes through.

It was reported Tuesday that Fox-head James Murdoch could wind up succeeding Iger if the deal went through, but according to multiple sources it’s likely that if it does goes through, Disney CEO Bob Iger will likely remain with the company. He would stay at Disney to oversee any potential merging of Disney and Twenty-First Century Fox assets.

Iger is no stranger to bringing in new assets and integrating them into the Disney family. After taking over in 2005 he led the acquisitions of Pixar, Marvel, and Lucasfilms giving him experience like no one else. He has the most experience and makes the most sense if the deal is to succeed. The deal is valued at more than $60 billion and a smooth transition is exactly what investors want.

It will take time to get the necessary federal approvals for the acquisition and even time to integrate the assets after that, which could leave Iger at the helm through 2020, maybe even later. It is still possible the deal would see James Murdoch as a replacement after the integration is complete and Iger steps down.

December 6, 2017
Fox Boss James Murdoch Could Be Next Disney CEO If Disney Fox Deal Goes Through

It’s no secret that Disney is actively seeking Bob Iger’s replacement in preparation of his pending 2019 departure. Now in the midst of Disney and Fox negotiations, 21st Century Fox CEO James Murdoch has been “suggested” as a candidate to succeed the Disney CEO, when the storied executive eventually retires, according to The Financial Times, which cited “people briefed on the talks” in a report published Tuesday.

This after recent reports have stated that Disney Parks Chief, Bob Chapek, Might Be next in line as Bob Iger’s Successor, but this deal is bigger than that as a deal of this nature would reshape the media landscape and if Disney pulls it off and it could land Murdoch at the helm of The Mouse House.

This news came the same day that a CNBC report said Disney was close to a deal to acquire parts of Fox’s studio and television production business, valued at more than $60 billion.

According to the report, Rupert Murdoch and his younger son, James, could take senior roles at a combined company if a deal is struck. Iger, 66, is due to retire in 2019 and James Murdoch, 44, currently chief executive of 21st Century Fox and chairman of the satellite broadcaster Sky, is a possible successor… (Read More)

December 5, 2017
Disney and Fox Deal Could Come As Soon As Next Week

Disney and Twenty-First Century Fox are closing in on a deal, and it could come as soon as next week, according to sources familiar with the matter. While this doesn’t confirm that the deal will go through and the Federal Trade Commission could try to block it, but it is very apparent the companies are interested in the acquisition.

While certain Fox properties may not be sold to Disney, including Fox Sports, there are a number of smaller properties where Disney could acquire stakes. Disney would get Fox’s 30 percent stake in Hulu. Disney already has a 30 percent stake in Hulu, so that arrangement would give it majority ownership of the streaming platform. Could this be the foundation for which to build the Disney streaming service?

It would appear that the two studios are nearing a deal that might have some in Hollywood a little nervous but it would be super exciting for fans that have long waited to see both the Fantastic Four and X-Men within the Marvel Cinematic Universe.

It’s the film rights have kept the X-Men from joining the MCU as of yet, but one X-Men producer would love to see the crossover happen. A recent Vanity Fair article explained how X-Men producer Lauren Shuler Donner threw in her support to have the mutant icons team up with the Avengers in theaters. “Well, I wish. I would love it, I would love it. But it’s not for me to say,” she said. Too bad it’s not up to her.

If the deal goes through, the Murdoch family will continue to maintain ownership over the sports and news divisions while Disney would get the studio rights to everything on the film side according to the report.

There is so much more at stake here for Disney than the obvious rights to the X-Men and Fantastic Four brands. They also want distribution rights for the original Star Wars trilogy and prequel trilogy. Most of those rights revert back to Disney in 2020, but the original 1977 film’s rights will remain at Fox.

Another bonus is the Avatar franchise. Earlier this week director James Cameron commented on how any sale of Fox’s TV and film operations would impact the Avatar sequels. He noted it probably wouldn’t affect the Avatar series and explained that “at this point in time Disney has a bigger investment” in the franchise than Fox, referring in part to Disney World’s Pandora: The World of Avatar attraction.

Disney would love to get its hands on the FX channel. And of course they want the vast, impressive, lucrative library of Fox movies and TV series from past and present, to add to their upcoming streaming service and, probably, to deny those movies and series to Netflix, along with the Disney, Marvel, Pixar, and Lucasfilm properties.

While in the midst of negotiations Disney is really hoping that Sony doesn’t out fox them on the deal. It was recently noted that Sony Entertainment had shown interest in purchasing 21st Century Fox along with a few other companies, including Comcast and Verizon. However, if rumors are true those talks have since reverted to Disney.

Much of this is speculative, but the talk of Disney purchasing Fox is much more than a big rumor. Deadline’s new report makes a good point that, if this deal does happen, we’ll probably find out about it in a pretty out of the blue way. We may not know when that announcement could come, but don’t be too surprised to hear that Disney has officially purchased Fox in the near future.

December 5, 2017
Disney and Fox Deal Back On and Moving Fast

It turns out the talks aren’t really finished and there is still a strong likelihood of a deal between Disney and Fox. Disney is “progressing speedily” towards an acquisition of Fox, according to a new report from Deadline.

It would appear that the two studios are nearing a deal that might have some in Hollywood a little nervous but it would be super exciting for fans that have long waited to see both the Fantastic Four and X-Men within the Marvel Cinematic Universe.

It’s the film rights have kept the X-Men from joining the MCU as of yet, but one X-Men producer would love to see the crossover happen. A recent Vanity Fair article explained how X-Men producer Lauren Shuler Donner threw in her support to have the mutant icons team up with the Avengers in theaters. “Well, I wish. I would love it, I would love it. But it’s not for me to say,” she said. Too bad it’s not up to her.

If the deal goes through, the Murdoch family will continue to maintain ownership over the sports and news divisions while Disney would get the studio rights to everything on the film side according to the report.

There is so much more at stake here for Disney than the obvious rights to the X-Men and Fantastic Four brands. They also want distribution rights for the original Star Wars trilogy and prequel trilogy. Most of those rights revert back to Disney in 2020, but the original 1977 film’s rights will remain at Fox.

Another bonus is the Avatar franchise. Earlier this week director James Cameron commented on how any sale of Fox’s TV and film operations would impact the Avatar sequels. He noted it probably wouldn’t affect the Avatar series and explained that “at this point in time Disney has a bigger investment” in the franchise than Fox, referring in part to Disney World’s Pandora: The World of Avatar attraction.

Disney would love to get its hands on the FX channel. And of course they want the vast, impressive, lucrative library of Fox movies and TV series from past and present, to add to their upcoming streaming service and, probably, to deny those movies and series to Netflix, along with the Disney, Marvel, Pixar, and Lucasfilm properties.

While in the midst of negotiations Disney is really hoping that Sony doesn’t out fox them on the deal. It was recently noted that Sony Entertainment had shown interest in purchasing 21st Century Fox along with a few other companies, including Comcast and Verizon. However, if rumors are true those talks have since reverted to Disney.

Much of this is speculative, but the talk of Disney purchasing Fox is much more than a big rumor. Deadline’s new report makes a good point that, if this deal does happen, we’ll probably find out about it in a pretty out of the blue way. We may not know when that announcement could come, but don’t be too surprised to hear that Disney has officially purchased Fox in the near future.

November 29, 2017