Disney is buying most of 21st Century Fox - Canadian TV, Computing and Home Theatre Forums

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post #1 of 7 (permalink) Old 2017-12-14, 09:24 AM Thread Starter
 
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Disney is buying most of 21st Century Fox

Disney is buying most of 21st Century Fox for $52.4 billion but not FOX News.

In addition to 21st Century Fox's movie studio and regional sports networks, Disney is buying cable channels FX and National Geographic. Disney will also get Fox's stakes in Hulu and European pay-TV provider Sky.

Prior to the deal closing, 21st Century Fox (FOX) will separate the Fox broadcasting network, Fox News Channel, Fox Business Network, and some national sports networks into a new company that will be spun off to its shareholders.

Disney, which counts ESPN among its crown jewels, has suffered as consumers switch off their TVs and spend more hours watching streaming services such as Netflix that are distributed directly to consumers.

Read more here:

Disney is buying most of 21st Century Fox for $52.4 billion - Dec. 14, 2017
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post #2 of 7 (permalink) Old 2017-12-14, 09:46 AM
 
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Disney seems to be on a buying spree the last 10 years - but everything they seem to buy to me is business/properties that will be on the decline.

Sports - Disney's ESPN is already in trouble, but they are adding all the Fox RSNs? Unless they see some synergy, I don't see how this is good to add to a faltering division.

FOX Studios - They will get a bunch of rights to older films, but I can't think of a major movie from Fox in years beyond some comic book character films (some that were box office flops). How much of a shelf life does an older movie have once it is old? I know myself, I barely have seen any movies from before I was born.

Cable Channels - FX/FXX/National Geographic - again, more channels with viewership on the decline. Disney already has a stable of channels on the decline and may need to merge them, like Paramount has done with there channels for 2018.

Disney has bought into Star Wars, and Marvel (some of which Fox owned) but again how much shelf life do these properties have to younger generations? The theme parks as well are getting really dated - they have put lots of money upgrading them, but Disneyland Paris and other properties are not doing great - just OK - and again, do kids today care that much about Mickey Mouse? I didn't even care for the Disney characters in the 1970s.

Time will only tell, but I wouldn't invest into Disney stock myself. It seems over hyped by Star Wars fanboys and other fans of their properties, but not really delivering the EBIT and cash flow other companies are these days.
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post #3 of 7 (permalink) Old 2017-12-14, 10:16 AM
 
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There WILL be synergy.

The entire point of this acquisition is to bolster yet another streaming service or two.
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post #4 of 7 (permalink) Old 2017-12-14, 11:51 AM
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This is mainly a stock swap deal that will give 21st Century Fox shareholders a 25% stake in Disney. Rupert Murdock's shares will provide a 4.5% stake in Disney. The 21st Century Fox interest in Sky is currently under review so that deal is not certain. Disney's acquisition of 21st Century Fox may trigger another review.

Rupert Murdoch reshapes media empire with $66bn Disney deal

I wouldn't rule out Disney as a force in the marketplace. They have a large catalog and continuously produce new titles. Disney's strength is in leveraging their catalog of older movies toward new, younger viewers and their families. The Marvel catalog will add to that. In addition, Disney is launching its own streaming service in the near future. The existing Disney catalog will be a huge draw worldwide and it could easily rival or surpass Netflix withing a few years. Despite it's recent problems, Disney's Paris theme park is still, by far, the most visited theme park in Europe.

Murdock is retaining his broadcasting interests which were recently spun off into a separate entity. That includes Fox News, broadcast stations and newspapers.
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post #5 of 7 (permalink) Old 2017-12-14, 01:34 PM
 
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It's also interesting that the net neutrality rules were changed in the U.S. today a few hours after this deal.
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post #6 of 7 (permalink) Old 2017-12-14, 01:54 PM
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Here's a fun article:
'The Simpsons' Predicted Disney Would Buy Fox 19 Years Ago | Deadline
Quote:
The scene continues inside the studio, where a Star Wars poster appears on the wall in an office where Ron Howard is pitching film ideas. Just so happens, Disney purchased the rights to Star Wars and Lucasfilm 14 years later in 2012. And, Howard is directing the upcoming Star Wars anthology film Solo: A Star Wars Story.
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post #7 of 7 (permalink) Old 2017-12-14, 09:51 PM
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Quote:
It's also interesting that the net neutrality rules were changed in the U.S. today a few hours after this deal.
If it was a deal between a major cable company and Disney, I might think along those lines. As it is, I suspect the 86 year old Murdock wants to divest. 21st Century Fox is a better deal for family friendly Disney than the same company with the radio and TV stations attached. Those are seen as a more risky investment and would be more suited to being run alone or sold to a different company. 4.5% of Disney is a pretty good portfolio and will be a lot harder for the heirs to screw up than owning and managing 21st Century Fox.
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