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News Disney and Fox come to terms -- announcement soon; huge IP acquisition

DoubleJ21

Well-Known Member
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The United States isn't the world. Comcast is only hated in the US.
Comcast only does business in the U.S. They are the most reviled company in America for good reason. The whole apparatus is scum.

I cannot wait till the UK gets a load of them! If they thought Murdoch was bad, oh boy do they have another thing coming! I'm laughing already!
 
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DoubleJ21

Well-Known Member
Oi, us Brit’s didn’t choose Comcast for SKY 😆

I was happy with anyone else taking over
Oh I know, but it's gonna be hilarious to read the horror stories! What can I say, I enjoy laughing at people and their miserable experiences. I can feel it already, "Hi, thank you for calling Sky, a Comcast company, please wait while we transfer you to the first of the 50 million idiots you'll be dealing with today! Don't worry, your time is important to us. The estimated wait time to speak to the next available representative is currently 8 hours. Please stay on the line, and experience the Future of Awesome!"

How'd I do folks?
 

bartholomr4

Well-Known Member
From the WSJ: By Adria Calatayud

Comcast said Thursday that it has agreed to buy 21st Century Fox 39.1% stake in Sky for 11.63 billion pounds ($15.10 billion), after defeating Fox in a bidding war for the British pay-TV group.

Comcast said it will hold or have received acceptances in respect of more than 75% of Sky after the transaction is completed. Comcast last week bought Sky shares on the market, building a 37.7% stake in the company.

The U.S. cable giant said it bought 672.8 million Sky shares from Fox at GBP17.28 each, the price at which Comcast outbid its rival in a rare auction held by British regulators last month to end the battle for control of the U.K. broadcaster.

Comcast said it expects to complete the acquisition on Tuesday.
 

bartholomr4

Well-Known Member
https://screenrant.com/disney-fox-deal-close-2018/

Spurred by something said in a Deadline article. Does anyone have any knowledge on this? Perhaps anything on where it stands in terms of the international regulatory approvals?
Next time we will get an update is the first week of November when they release last quarters earnings. We have had some reports of an approval from Brazil, and the European Union is suppose to meet on the merger this month (Memory is telling me October 18th). They could green light the merger, or decide to look into it in more detail for 90 days..... With the sale and closing of the sale of the Sky stake, (which fits into the Disney strategy) to Comcast, there isn’t a big overlap of any antitrust issues in Europe.... The other countries are all a mystery and with China and the US at loggerheads on trade, an argument could be made that China may hold it up for political reasons.....
 

bartholomr4

Well-Known Member
My IRL experiences with mergers, is that this doesn’t begin until all regulatory issues are resolved and we are closing in on closing.

I didn’t think we were quite that far. I wonder if they will wrap this up now within the next 30-60 days?
Could be.....The consent order is really just an exchange of one debt instrument guaranteed by 21CF with another guaranteed by NewDisney. Within the 8K it states that NewDisney expects the merger to close in the first half of 2019, but that is probably a worst case estimate.

I would expect there is a trade of equity (FOX or FOXA) shares to Disney worth this $18 Billion and an agreement for 21CF to continue to pay the interest until the deal closes..... I think the deal is ready to close from a US perspective. It’s all the outstanding governmental approvals they need to get, and just like happened with Comcast/Sky you will see Disney / Fox close this within a week or so of obtaining all those approvals.
 

bartholomr4

Well-Known Member
Oi, us Brit’s didn’t choose Comcast for SKY 😆

I was happy with anyone else taking over
LONDON (Reuters) - Britain has sought additional reassurances from cable company Comcast over the editorial independence of the Sky News television channel following the U.S. group's takeover of broadcaster Sky.
Comcast emerged triumphant in the long-running battle for the pay-TV group after it beat Murdoch's Twenty-First Century Fox in a rare auction held last month.
"I've left them in no doubt at all about the importance of editorial independence and Sky News, and what we expect not just over the immediate period following the changes to corporate ownership, but in the longer term," culture minister Jeremy Wright told Sky News.
Wright said he had found reassurances previously offered by Comcast persuasive, but also wanted to make sure they were "firmed up", and would be keen to take further steps to do so if needed. He did not provide specific details.
"We want to make sure they are committed to Sky News in the long term and committed to its editorial independence," he said.
 

bartholomr4

Well-Known Member
BOB IGER has formally announced the long-expected appointment of 21cF execs Peter Rice, Dana Walden, John Landgraf, etc to positions at Disney …. As expected, Peter Rice will take over all Disney TV, replacing Ben Sherwood, who plans to leave the company
 

Rodan75

Well-Known Member
BOB IGER has formally announced the long-expected appointment of 21cF execs Peter Rice, Dana Walden, John Landgraf, etc to positions at Disney …. As expected, Peter Rice will take over all Disney TV, replacing Ben Sherwood, who plans to leave the company
It looks like Disney is going to slowly release these positions, I wonder if they plan to go division by division or just as contacts are completed.

But it is good for the TV universe since it is development season and creators need to know who they will be working with if projects get picked up to pilot and beyond.
 

lee.moles.disney

Well-Known Member
Was always going to happen with a merging like that. Hopefully the people from Fox really work closely with ABC and really help Disney bolster their TV options.

We still don't know what's happening to a lot of the Fox shows either like Family Guy, Simpsons, Walking Dead, American Horror Story
 

Twilight_Roxas

Well-Known Member
Anyway The Simpsons also airs on FXX. There's also Legion, and The Gifted since there Marvel shows, but part of the X-Men universe. AHS has two more seasons on the way. As for Family Guy I think it will still have new episodes while Freeform, and Hulu air reruns same with Bob's Burgers.
 

Quinnmac000

Well-Known Member
The honeymoon is over according to Deadline.

The difference in corporate climates is creating issues in cost savings making the companies merging put off for awhile. Another rising issue is Fox executives are making 20% more than DIsney execs are at the time not taking a pay cut and taking control of all Disney TV assets

The appointments, led by Rice — tipped a possible successor to Iger — and Walden and Landgraf, signify a total takeover by Fox of Disney’s TV assets who will be run by Fox execs. Additionally, the pending arrivals already are having an impact by expanding the pool of Disney executives with top-level titles, judging by the monikers the quartet were assigned in the combined entity: Rice will be Chairman, Walt Disney Television and Co-Chair, Disney Media Networks; Walden will be Chairman, Disney Television Studios and ABC Entertainment; Landgraf will be Chairman of FX Networks and FX Productions; and Knell will be Chairman of National Geographic Partners.

The Fox execs also reportedly come with star salaries. Word is that on average, Fox’s TV executives are paid at least 20% more than their Disney counterparts, and none of those drafted to join Disney are said to be taking a pay cut. Disney is known for its lower base salaries, though the company is said to be making up for that with compensation packages that include stock and bonuses.
Still, the disparity may trigger title and salary bump requests for incumbent Disney TV executives, and I hear the abundance of high-level titles in today’s release did not go unnoticed on the Disney lot.
The slew of CEO titles at Fox versus only one for Iger at Disney reflects the way those companies operate: At Disney, there is a strong corporate oversight, with Iger intimately involved in the work and decision-making of all departments. Meanwhile, Fox’s units have enjoyed autonomy in creative decisions, so inevitably there will be some adjustment as they join Disney.

There is also the issue of content vs. distribution. Disney had made the launch of its upcoming Disney-branded direct-to-consumer service, as well as the recently launched ESPN+ sports streaming platform, a top priority. There was a discussion following Disney’s March reorganization, when the company put all of its direct-to-consumer platforms, including Disney’s interest in Hulu, under Mayer, about its strategy of separating program development from distribution and linear content from digital. While there was much speculation over the past few months that some of the incoming Fox execs could get some oversight of streaming platforms, including Hulu, today’s announcement confirms that they will work on the traditional media side of the Disney’s portfolio.
https://deadline.com/2018/10/disney-fox-deal-tv-executives-analysis-culture-clash-1202473873/

also today, NBCUniversal opened their own streaming service called watchback which isn't traditional in the sense of Netflix/Hulu but may be utilized instead of Hulu letting them sell their shares to Disney in the future.
 
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