MASS MEDIA – UNITED STATES

Comcast outbids Fox and Walt Disney Co. with $40-billion offer for Europe’s Sky TV

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Original article by Meg James
Los Angeles Times – Page: Online : 22-Sep-18

The independent directors of pan-European satellite broadcaster Sky plc have endorsed Comcast’s successful bid in a corporate auction that was organised by the UK’s Takeovers Panel. Comcast offered $US22.75 per share for Sky, valuing its bid at nearly $US40bn. The rival bid from Rupert Murdoch’s 21st Century Fox – which has a 39 per cent stake in Sky – was $US20.63 per share, which equates to about $US35bn. The auction followed a protracted bidding war for Sky, and Fox’s deal to sell the bulk of its entertainment assets to Walt Disney Company.

CORPORATES
SKY PLC, COMCAST CORPORATION, 21ST CENTURY FOX INCORPORATED, GREAT BRITAIN. THE TAKEOVER PANEL, WALT DISNEY COMPANY, NEWS CORPORATION – ASX NWS, FOX NEWS CHANNEL, HULU LLC

Comcast surrenders to Disney in bid for 21st Century Fox

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Original article by Anousha Sakoui, Gerry Smith
The Australian Financial Review – Page: Online : 20-Jul-18

Comcast will press ahead with its takeover bid for pan-European broadcaster company Sky after withdrawing from the bidding war for the bulk of 21st Century Fox’s entertainment assets. Comcast’s cash offer of $US65bn for the Fox assets forced rival bidder Walt Disney Company to increase its offer to $US71bn. Disney’s bid has received clearance from antitrust regulators.

CORPORATES
21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, SKY PLC, AT&T CORPORATION, TIME WARNER INCORPORATED, UNITED STATES. DEPT OF JUSTICE, UNIVERSAL PICTURES, NBC TELEVISION NETWORK, MOODY’S INVESTORS SERVICE INCORPORATED

Disney’s Fox bid wins US approval

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Original article by Edmund Lee, Cecilia Kang
The Australian Financial Review – Page: 16 : 29-Jun-18

Walt Disney’s proposed $US71bn deal to acquire the bulk of 21st Century Fox’s entertainment assets has been cleared by the US Justice Department, only six months after it was initially proposed. However, the Justice Department has ruled that ESPN owner Disney must divest Fox’s regional sports to satisfy competition concerns. Jefferies media analyst John Janedis says the Fox board will probably be obliged to see if rival suitor Comcast makes a revised bid, but he notes that any such offer would take at least six months to receive approval from the DoJ.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, UNITED STATES. DEPT OF JUSTICE, ESPN INCORPORATED, JEFFERIES AND COMPANY, HULU LLC, AT&T CORPORATION, TIME WARNER INCORPORATED, CNN, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, SKY PLC, STAR INDIA, MARVEL ENTERPRISES, LUCASFILM, PIXAR, FOX NEWS CHANNEL

Disney, Fox agree on $97bn merger

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Original article by Keach Hagey, Erich Schwartzel
The Australian – Page: 24 : 22-Jun-18

Walt Disney Company CEO Bob Iger has ruled out a deal with Comcast to carve up the entertainment assets of 21st Century Fox. Sources have indicated that Fox and Disney are finalising the terms of the latter’s $US71.3bn ($A96.8bn) cash and scrip deal, which has trumped Comcast’s $US65bn cash bid. Fox shareholders are expected to emerge with about 19 per cent of the enlarged Disney via the revised deal, compared with around 25 per cent under its previous scrip-only offer.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, COMCAST CORPORATION, FOX NEWS, FOX BROADCASTING COMPANY, COWEN AND COMPANY, MOODY’S INVESTORS SERVICE INCORPORATED, S&P GLOBAL RATINGS, NETFLIX INCORPORATED, SKY PLC, STAR INDIA, HULU LLC

Fox agrees to Disney offer

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Original article by
The Australian – Page: 22 : 21-Jun-18

Rupert Murdoch’s 21st Century Fox has accepted Walt Disney Company’s revised offer of more than $US70bn for the bulk of its entertainment assets. Disney had originally proposed a scrip-only bid worth $US52.4bn, but it has agreed to allow Fox shareholders to accept a combination of cash and shares. The cash component will be attractive to major Fox shareholders such as the Murdochs, given the capital gains tax implications of a cash-only bid. Disney’s latest offer has trumped Comcast’s $US65bn cash bid.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, COMCAST CORPORATION, SKY PLC, STAR INDIA, HULU LLC, FOX NEWS, FOX BROADCASTING COMPANY

$86bn bid for Fox ignites Disney fight

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Original article by Shalini Ramachandran, Erich Schwartzel
The Australian – Page: 25 : 15-Jun-18

US media group Comcast has offered $US35 per share for the bulk of 21st Century Fox’s entertainment assets, valuing its bid at about $US65bn ($A86bn). Fox has advised that it will "carefully review and consider" the cash bid, which has trumped Walt Disney Company’s scrip bid. The Disney offer is valued at $US29.18 per share based on Fox’s current share price. Fox would retain assets such as Fox News and its broadcast TV network if either bid succeeds.

CORPORATES
21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, FOX NEWS, FOX BROADCASTING COMPANY, AT&T CORPORATION, TIME WARNER INCORPORATED, HBO, CNN, WARNER BROS, BARCLAYS BANK PLC, NETFLIX INCORPORATED, HULU LLC, FACEBOOK INCORPORATED

Ruling will unleash new wave of tie-ups

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Original article by John Kehoe
The Australian Financial Review – Page: 10 : 14-Jun-18

Comcast’s proposed bid for the entertainment assets of 21st Century Fox is more likely to proceed after a US court approved AT&T’s deal to acquire Time Warner. Shares in Fox have rallied amid expectations that Comcast will trump Walt Disney Company’s $US52bn offer for the bulk of Fox’s assets. Media analyst Craig Moffett says the AT&T-Time Warner merger is likely to prompt further consolidation in the media sector.

CORPORATES
AT&T CORPORATION, TIME WARNER INCORPORATED, 21ST CENTURY FOX INCORPORATED, COMCAST CORPORATION, WALT DISNEY COMPANY, CNN, HBO, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, UNITED STATES. DEPT OF JUSTICE, STAR INDIA, HULU LLC, SKY PLC, VERIZON COMMUNICATIONS INCORPORATED, BTIG LLC, NETFLIX INCORPORATED, AMAZON.COM INCORPORATED, GOOGLE INCORPORATED

Netflix is now worth more than Disney and Comcast

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Original article by Paul R. La Monica
CNNMoney – Page: Online : 25-May-18

The market capitalisation of subscription video-on-demand giant Netflix has risen to $US151.6bn, surpassing that of traditional media groups Walt Disney Company and Comcast. Disney’s market capitalisation was $US151bn on 24 May, while Comcast is currently valued at $US144bn. Netflix had already overtaken 21st Century Fox, Time Warner, CBS and Viacom in terms of market value.

CORPORATES
NETFLIX INCORPORATED, WALT DISNEY COMPANY, COMCAST CORPORATION, 21ST CENTURY FOX INCORPORATED, TIME WARNER INCORPORATED, CBS CORPORATION, VIACOM INCORPORATED, AT&T CORPORATION, VERIZON COMMUNICATIONS INCORPORATED, AOL, YAHOO! INCORPORATED, HULU LLC, CNN, AMAZON PRIME VIDEO

Fox deal seals Murdoch succession

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Original article by Brooks Barnes
The Australian Financial Review – Page: 13 : 18-May-18

Rupert Murdoch’s 21st Century Fox has advised that Lachlan Murdoch will become CEO and chairman of what has been dubbed "New Fox" if a deal to sell most of its entertainment assets to Disney proceeds. Rupert Murdoch will be co-chairman of what would be a much smaller company, with assets such as the Fox broadcast network and cable channel Fox News. Lachlan Murdoch says the new Fox will be a "leader in news, sports and entertainment". Fox’s current CEO James Murdoch is widely tipped to leave the group and start his own business.

CORPORATES
21ST CENTURY FOX INCORPORATED, WALT DISNEY COMPANY, FOX BROADCASTING COMPANY, FOX NEWS, COMCAST CORPORATION, HULU LLC, NEWS CORPORATION – ASX NWS

Netflix foreign sales set to beat home market for the first time

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Original article by Tim Bradshaw
The Australian Financial Review – Page: 23 : 18-Apr-18

US-based streaming video giant Netflix has posted net income of $US290m for the March quarter, which is 63 per cent higher than previously. Revenue rose by 40 per cent to $US3.7bn, while Netflix has forecast revenue of $US3.9bn for the June quarter. The company has also advised that revenue for its international operations is expected to be $US1.94bn in the June quarter, while US revenue is forecast to be $US1.9bn. Netflix’s total subscriber base rose by 7.4 million in the March quarter, to 125 million.

CORPORATES
NETFLIX INCORPORATED, FACEBOOK INCORPORATED, ALPHABET INCORPORATED, AMAZON.COM INCORPORATED, CANNES INTERNATIONAL FILM FESTIVAL