Log in:  

Register

Sky, Disney & Comcast

Grab a short black and come join in the non-cycling discussion. Favourite books, movies, holiday destinations, other sports - chat about it all in the cafe.

Moderators: Irondan, Eshnar, Red Rick, Pricey_sky, Tonton, King Boonen, Valv.Piti

14 Jun 2018 03:38

The Comcast/Disney biding war begins ... stay tuned!
https://www.bbc.com/news/business-44473147
Comcast, the US media conglomerate, has submitted another offer to buy parts of 21st Century Fox, after getting rebuffed last year in favour of Disney.

Comcast said it has offered $65bn (£48.6bn) in cash for assets that include Fox's film and television studios and international businesses.

The bid sets up a fight with Disney, which announced its own plan to acquire those businesses last year.

The two firms are also vying for ownership of Sky in the UK.

Comcast said its proposal is "at least as favourable" to shareholders as Disney's plan.

The firm is offering Fox $35 per share in cash, which it says provides more shareholder certainty and is 19% higher than Disney's proposal, which involves exchanging shares.


https://www.bloomberg.com/news/articles/2018-06-13/comcast-offers-65-billion-for-fox-in-bidding-war-with-disney
Comcast also is making an ambitious push in Europe that centers on U.K. pay TV provider Sky. After Fox made a takeover offer for the 61 percent stake in Sky that it doesn’t already own, Comcast launched a 22 billion pound ($30 billion) counterbid for the business. Disney also is interested in owning Sky.

But Comcast investors haven’t welcomed the company’s sudden appetite for megadeals. Its shares were down 19 percent this year through Wednesday. If Comcast buys Fox and Sky, the cable giant could become one of America’s largest corporate borrowers and its credit ratings may teeter at the bottom edge of investment grade.
"Are you going to believe me or what you see with your own eyes?"

“It doesn’t matter what I do. People need to hear what I have to say. There’s no one else who can say what I can say. It doesn’t matter what I live.”
User avatar Robert5091
Senior Member
 
Posts: 2,052
Joined: 29 Mar 2016 08:56
Location: stockholm, sweden

16 Jun 2018 02:19

https://www.bloomberg.com/news/articles/2018-06-15/fox-board-is-said-to-weigh-65-billion-comcast-bid-on-wednesday
Rupert Murdoch and the 21st Century Fox Inc. board will consider on Wednesday how to proceed with Comcast Corp.’s $65 billion bid for the company’s entertainment assets, people with knowledge of the matter said.

The Fox board, which agreed to sell the assets to Walt Disney Co. last year, must decide whether Comcast’s proposal has a reasonable chance of becoming a superior offer before it can begin negotiations with the largest U.S. cable television company. Fox can also ask Disney for a waiver to begin discussions with Comcast, said the people, who asked not to be identified because the matter is private.

The regularly scheduled board meeting was set before Comcast made its new, improved offer on Wednesday, said one of the people. Fox said this week that it would “carefully review” Comcast’s unsolicited proposal.
...
Under the terms of its merger agreement with Fox, Disney has the right of refusal on any counteroffer. If the Fox board deems Comcast’s offer to be better, Disney will have five days to make a fresh bid.
"Are you going to believe me or what you see with your own eyes?"

“It doesn’t matter what I do. People need to hear what I have to say. There’s no one else who can say what I can say. It doesn’t matter what I live.”
User avatar Robert5091
Senior Member
 
Posts: 2,052
Joined: 29 Mar 2016 08:56
Location: stockholm, sweden

Today 04:20

The House of Mouse ups the bid ...
https://www.bloomberg.com/news/articles/2018-06-20/fox-agrees-to-sweetened-bid-from-disney-dealing-blow-to-comcast
Walt Disney Co. raised its offer for 21st Century Fox Inc.’s entertainment assets to $71.3 billion, outbidding Comcast Corp. in a battle for one of the media industry’s biggest prizes.

The $38-a-share price is about $10 a share higher than what Disney proposed in December -- and $3 above Comcast’s bid from last week. Fox has accepted the offer, saying it provides more flexibility and other enhancements than the $65 billion Comcast deal.

The question now is how Comcast will respond. Chances are the cable giant will counterbid with something in the low-$40-a-share range, according to Jefferies Group LLC analyst John Janedis. But Disney may have another edge: It’s close to winning antitrust approval for its offer, according a person familiar with the matter. That means any bid from Comcast would come with more regulatory hurdles.
...
Disney’s new offer gives Fox shareholders the option to take their payment in the form of cash or stock, up to a 50-50 level. The previous agreement was an all-stock deal, and Comcast’s cash offer was seen as a significant enticement.

Disney also plans to take on about $13.8 billion of Fox’s net debt. That would lift the total transaction value above about $85 billion.

Fox had planned to hold a July 10 meeting for shareholders to vote on the previous Disney offer, which was hammered out in December. It said on Wednesday that the gathering will be delayed to give investors “the opportunity to evaluate the terms of Disney’s revised proposal and other developments to date.” That could give Comcast more time to come back with a fresh bid.
"Are you going to believe me or what you see with your own eyes?"

“It doesn’t matter what I do. People need to hear what I have to say. There’s no one else who can say what I can say. It doesn’t matter what I live.”
User avatar Robert5091
Senior Member
 
Posts: 2,052
Joined: 29 Mar 2016 08:56
Location: stockholm, sweden

Previous

Return to General

Who is online

Users browsing this forum: No registered users and 4 guests

Back to top