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Hulu targets a different audience. It's going into children's entertainment a bit, but by and large, it targets an older audience than the presumed "Disneyflix" will target. FX titles would likely head to Hulu as well as the current broadcast network shows.

Yeah, in that case if Comcast isn't going to get Fox, then they can overpay for that 61% of Sky (i.e. they can offer something ridiculous like $20+ billion for just that 61% of outstanding shares). Then I think we'd see a swap of Comcast's 30% of Hulu for Disney's 39% of Sky (with a couple...

I think the maximum here is somewhere around $42-45 per Fox share (with the additional $8-9 of New Fox bringing the total value for Fox shareholders to around $50-54 a share). The Fox assets are too dilutive if either Comcast or Disney pays more than that. I can't see either company's...

I think everything is still too uncertain for Fox's shares to go much higher. Right now, the Disney bid for Fox's assets values Fox at somewhere around $36-38. Each Fox shareholder gets around $28-29 of Disney stock along with a New Fox share that should be worth around $8-9 a share. That's...

The funny thing is that article is from 2016..., if you look at the points that the writer critiques him for, he was right on some of those counts. '"ESPN now appears poised to become Disney's most troubled business as consumer behavior shifts rapidly." (Another analyst, Michael Nathanson, has...

Disney is certainly the favorite (I'd say a 2-1 favorite) over Comcast to acquire Fox's assets. But the question is whether Comcast is willing to bid "crazy"... The biggest difference between Comcast and Disney is that Roberts really has been given free reign to make all sorts of large...

It's hard to know, but what's an extra $5bn or $10bn if you're already willing to take on $100 billion in debt... I think Comcast (and Disney) view Fox's assets as the last/best chance to compete globally with Netflix/Amazon Prime/Google-Youtube/Facebook in the competition for eyeballs...

As far as corporate balance sheets go, both Disney and Comcast have strong balance sheets at the current moment. Naturally, if Comcast succeeds at buying the Fox assets and Sky for somewhere around $100 billion (including assumed debt), then their balance sheet will be somewhat stretched...

Sort of, Disney doesn't have enough overseas targeted content. NBCU certainly doesn't. Even with the strength of Marvel/Star Wars, it'll be hard to sell the Disney streaming services overseas without targeted content. Could they develop it organically? Sure, but that's really hard to do in a...

Neither Comcast nor Disney can easily afford to lose the Fox assets because there isn't another set of assets like it. Comcast's NBCUniversal and Disney's media assets are both subscale in a world with Netflix, Amazon Prime, Facebook, and Youtube. What do the latter tech companies have that...

DoJ's behavior is based on the assumption that they'll win the AT&T-TW case handily and then be able to impose restrictions on Comcast-NBCU by threatening a lawsuit to break them up under the precedent set by the AT&T-TW case. But if the case goes the other way, then their reaction will have to...

Comcast would probably only bid for the Fox assets if all 3 of the following are true: 1) they could present an offer that makes the Murdochs whole after taxes compared to the Disney offer 2) their offer includes a huge premium to the non-Murdoch shareholders compared to the Disney offer 3)...

The biggest anti-trust issue for Disney isn't the movie studios or box office market share; it's the Fox RSNs. The single most valuable item in the $66 billion worth of Fox assets for sale are the $25 billion in value allocated to the Fox RSNs. Combining those RSNs with ESPN equates to a lot...

Found the best source: https://www.sec.gov/Archives/edgar/data/1308161/000119312513338522/d578800dex31.htm Subject to applicable law and the voting rights of any outstanding series of Preferred Stock and Series Common Stock, each of the shares of Class A Common Stock shall entitle the record...

https://www.marketwatch.com/story/comcast-pursues-sky-and-bigger-move-for-fox-assets-2018-04-25 "Mr. Murdoch and his family have a 39% voting interest in Fox. Their economic interest, which is what would count in a shareholder vote on the Disney-Fox merger, is roughly 17%." It's because all...

At this point, even Disney's offer is already an overpay. Anything Comcast adds to that will just raise the price to the stretching point. If Fox's assets and Sky are being valued compared to Comcast and Disney assets, Fox's assets are probably worth at most $40 billion. Sky is probably worth...

The Murdochs won't have that much choice if Comcast's offer is clearly superior. As far as this situation goes, they only control 17% of the vote in a sale of significant assets (a sale of the majority of a corporation's assets requires a vote across share classes, so Murdochs' 40% voting...

The main obstacle for Comcast is the AT&T-TimeWarner merger. If that gets banned by the judge next month, then Comcast won't bid for Fox's assets. But if that does get the greenlight, then Comcast will bid. Comcast would probably have a 50-50 shot given that the Murdochs would be pressured by...