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FOX/Disney deal

RadioPatrol said:
Here is an update the Disney shareholders vote against executive compensation for Bob Iger. Note this is in relation to how the Disney/Fox deal plays out though.
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There seems to be a lot of this going on lately.

Personally the stockholders should be pretty happy with the value Bob's delivered, but then again, the dividend is pretty skimpy.
 
https://www.fiercecable.com/video/disney-s-iger-line-for-massive-423m-compensation-package

Here is an update on Bob Iger at Disney and as noted this is going to depend on how the Disney/Fox Deal plays out

Walt Disney Company CEO Bob Iger’s decision to stick with the Mouse through the end of 2021 could result in an extremely healthy compensation package for the longtime company chief.

ISS Analytics predicts Iger could earn up to $423 million over the next four years if he hits all of Disney’s performance goals.


Earlier this year, a majority of Disney shareholders voted against the proposed executive compensation packages at the company’s annual shareholders meeting. About 52% opposed the compensation packages while about 44% approved.

As Deadline pointed out, Disney’s compensation committee argued that it’s “critical” for Iger to remain in charge as Disney pursues its $52.4 billion acquisition of 21st Century Fox’s entertainment assets.

When Disney-Fox deal was originally announced, along with the extension to Iger’s contract, a similar argument for keeping on Iger was made.



“When considering this strategic acquisition, it was important to the board that Bob remain as chairman and CEO through 2021 to provide the vision and proven leadership required to successfully complete and integrate such a massive, complex undertaking,” said Orin Smith, lead independent director of the Disney board, who died in March 2018.
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https://www.fiercecable.com/cable/comcast-most-likely-will-not-come-away-sky-or-fox-analyst-says

Here is an update of Comcast Getting Sky. This comes in relation to the Disney/FOx Deal

Faced with a three-outcome scenario of coming away with just Sky, or buying Sky and Fox, or getting nothing at all, the latter is most likely, says New Street Research analyst Jonathan Chaplin.

“We value Comcast standalone at $56 [a share],” Chaplin said in a note to investors. “Investors may take some time to get over their frustrations with the bid for Sky, but they eventually will.”

A purchase of Sky and not Fox is the second most likely scenario and would result in a neutral valuation change, Chaplin said. Least likely is a scenario in which Comcast uses its purchase of the UK satellite TV company as a “stepping stone” to challenge the Walt Disney Company for 21st Century Fox.

Analysts are still waiting for Comcast to formalize its $31 billion offer for Sky, which would trigger regulatory reviews in Brussels and the U.K. Comcast isn’t on the hook to do this until seven days before Sky shareholders vote on a rival offer from Fox, which is set to occur in late June.

“Comcast could still bid again for Fox if AT&T wins their case against the DOJ; a successful bid for Sky may improve their chances with Fox,” Chaplin said.
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https://www.fiercecable.com/cable/will-share-sell-off-force-comcast-to-abandon-sky-bid

Here is an update

A firm opponent of Comcast’s $31 billion bid for U.K. satellite TV operator Sky since the deal was first proposed a month ago, MoffettNathanson analyst Craig Moffett released another investor note today, pondering whether the top U.S. cable operator will abandon its Sky gambit in the same way it dropped a proposed $54 billion bid for Disney back in 2004.

In a note cleverly titled “Comcast: The Rhyme of History,” Moffett recalled the cratering of Comcast stock following announcement of the Disney bid—the market’s reaction diluted Comcast’s value to the point where CEO Brian Roberts conceded that “consummating a transaction would have required us to give up substantially more Comcast shares than we originally proposed.”

To make the headline work, Moffett threw in this Mark Twain quote: “History doesn’t repeat itself: But it often rhymes.”

He then backed up the theses: Comcast’s Sky bid is a prelude of a larger intervention—should AT&T reopen regulatory pathways by beating the Justice Department in court and succeeding in its bid to buy Time Warner Inc., Comcast will in turn seek to counter-bid Disney for a large collection of 21st Century Fox assets.

But the investor reaction to the Sky bid has not been good for Comcast.
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This talk is running at the same time as the Disney/Fox Deal is at play here.
 
http://money.cnn.com/2018/04/03/media/fox-sky-news-disney/index.html

Update 21st Century Fox is proposing to sell Sky News to Disney.

Rupert Murdoch's 21st Century Fox is making a new pitch to win approval for its planned takeover of British broadcaster Sky.
The UK Competitions and Markets Authority published two new proposals from 21st Century Fox on Tuesday that are designed to address the regulator's concerns that the purchase would give the Murdoch family too much control over UK media.

The first proposal would see 21st Century Fox selling Sky's (SKYAY) news business to Disney (DIS).

According to 21st Century Fox (FOX), Disney wants to get its hands on Sky News whether or not its planned $52 billion purchase of a big chunk of 21st Century Fox is successful.

Under the second proposal, Sky News would be legally separated from the rest of Sky in a bid to ensure its editorial independence.

21st Century Fox said in a statement that it believes its proposals "comprehensively and constructively" address the UK regulator's concerns.


The British government asked the regulator to examine the Sky takeover in September because of concerns that the deal would concentrate too much power in the hands of the Murdoch family.

Rupert Murdoch and one of his sons, Lachlan, are Fox's two co-chairmen. The other son, James, is CEO. The family also controls News Corp., which owns three of Britain's biggest newspapers: The Sun, The Times and The Sunday Times.

The review has become a hot political issue in Britain, where some politicians have pushed for closer examination of the Murdoch family following a series of scandals at the U.S. cable news channel Fox News.

The Murdoch bid for Sky has also been challenged on another front.
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https://www.fiercecable.com/video/c...ox-if-doj-can-t-block-at-t-time-warner-report

An Update on the Disney/Fox talks

Comcast comes into play

Comcast could reignite a bidding war for the Fox assets that Disney is buying for $52.4 billion if the Justice Department loses its court challenge to block AT&T’s $85 billion Time Warner acquisition.

According to Fox Business’ Charlie Gasparino, Comcast CEO Brian Roberts thinks if AT&T and Time Warner are allowed to move ahead with their merger, it could open the door for Comcast to successfully outbid Disney for Fox’s assets.

The trial pitting the DOJ against lawyers defending the AT&T-Time Warner merger wrapped up earlier this week, but a decision isn’t expected until June 12, when Judge Richard Leon has scheduled a hearing.



Word among Wall Street analysts and industry insiders is that AT&T has a strong chance of winning the case. MoffettNathanson analyst Craig Moffett was careful to note that while he still thinks AT&T has a 50-50 chance, many believe the odds are better than that.

“By most accounts, however, the trial has gone very well for AT&T. For the record, we’re still calling it a toss-up, but the general consensus is that we’re being too cautious; most observers seem to give AT&T 75%-or-better odds of winning in Court,” Moffett wrote in a research note.



Comcast has already officially counterbid for Sky, a European pay TV operator that Disney would own if its Fox deal were approved.

“We didn’t choose to put Sky in play—that was done for us,” Roberts said somewhat defensively during Comcast’s first-quarter earnings call. “I don’t think we have to do this. And I don’t think of international broadly as a strategy. The fact is, Sky is a unique asset that fits the list of assets we already have.”

As Disney is pursuing its deal with Fox, Fox is also pursuing a deal to buy the 61% of Sky it doesn’t already own. Last month, U.K. regulators said that Disney will be required to make a bid for European satellite operator Sky if its deal for 21st Century Fox’s assets closes before Fox can finalize its bid to buy the rest of Sky.
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Comcast like AT&T are way too big as is Comcast has NBC they shouldn't be buying anymore media just my opinion. But I also think Disney is also big not as big as the evil empire AT&T or Comcast but there big enough already surprise that Fox is giving up RSN business to Disney in their deal.
 
Megatron said:
Comcast like AT&T are way too big as is Comcast has NBC they shouldn't be buying anymore media just my opinion. But I also think Disney is also big not as big as the evil empire AT&T or Comcast but there big enough already surprise that Fox is giving up RSN business to Disney in their deal.
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Fox knows the RSN bubble is about to burst. There is only so much you can charge for sports programming as ESPN is finding out. Fox knows the TV landscape is changing and wants to downsize. ESPN/Disney knows this and is going the other way and will use the RSN's as content for ESPN+.
 
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