Disney takeover of 21st-Century Fox...WTF??

Go down

Disney takeover of 21st-Century Fox...WTF??

Post by Original Quill on Wed Jun 27, 2018 6:25 pm

Reuters wrote:U.S. gives Disney-Fox deal antitrust approval

Reuters•June 27, 2018

WASHINGTON (Reuters) - Walt Disney Co has won U.S. antitrust approval to buy most of Twenty-First Century Fox Inc’s assets for $71.3 billion on the condition that it sell 22 regional sports networks, the Justice Department said on Wednesday.

The Fox-Disney deal, agreed in December, still needs numerous other regulatory approvals from other countries.

Fox and Disney are preparing to go ahead with their deal, which Fox chose over a competing $65 billion bid from cable operator Comcast Corp earlier this month.

Disney said last week in a regulatory filing that it was willing to divest Fox assets that generated up to $1 billion in earnings before interest, tax, depreciation and amortization (EBITDA) to get a regulatory nod for the deal.

The media conglomerate had previously planned to divest Fox assets that generated $500 million in EBITDA.

Both Disney and Comcast want to expand their own entertainment businesses with Fox's well-known TV shows and movie franchises such as the "X-Men" superheroes and "The Simpsons," to compete with fast-growing digital rivals Netflix Inc and Amazon.com Inc.

Disney and Fox did not immediately respond to requests for comment. The Justice Department declined to comment.

(Reporting by Diane Bartz and David Shepardson; Editing by Jeffrey Benkoe and Bill Rigby)

Hard to tell what this means.  Disney owns ABC, which owns ESPN and a host of local media outlets.  Politically, ABC is slightly left of center, with George Stephanopoulos and two black anchor hosts on Good Morning America.  Will ABC turn the FOX boat, or will the FOX oarsmen pull the whole thing to the right?

_________________
“Little thieves are hanged, but great thieves are praised.” — Old Russian proverb, offered by Vladimir Putin to Donald J. Trump.

"I don't stand by anything."  ― Donald Trump, interview with John Dickerson, 5.1.17...

“That's libertarians for you — anarchists who want police protection from their slaves.” ― Kim Stanley Robinson, Green Mars
avatar
Original Quill

Posts : 23682
Join date : 2013-12-19
Age : 53
Location : Northern California

View user profile

Back to top Go down

Re: Disney takeover of 21st-Century Fox...WTF??

Post by eddie on Sun Jul 01, 2018 9:37 pm

All those big, rich, powerful companies rule the fucking world.

_________________
”It is better to be hated for what you are than to be loved for what you are not.” ~ Andre Gide
avatar
eddie
King of Beards. Keeper of the Whip. Top Chef. BEES!!!!!! Mushroom muncher. Spider aficionado!

Posts : 34831
Join date : 2013-07-28
Age : 48
Location : England

View user profile

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum