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

[Darkprime]

Fiege confirmed last summer that he had "vague" ideas for the FF and X-Men.

Marvel's Kevin Feige has "vague ideas" for the X-Men and Fantastic Four

With Kevin Feige out and about on the press tour for Ant-Man and the Wasp, The Los Angeles Daily News managed to grab a few words from the Marvel Studios chief about the impending Disney takeover of Fox, although Feige’s response will sound very familiar to those who’ve been following...

www.flickeringmyth.com

 

[jt04]

I’ve always thought there should be an AVATAR land expansion. Maybe I’ll get my dream, now. Thank you, Bob.

Fixed that for you.

 

[Slpy3270]

We Got This Covered is a clickbait site with no reliable sources. They shouldn't be trusted in any capacity.

 

[MisterPenguin]

Fiege confirmed last summer that he had "vague" ideas for the FF and X-Men.

Marvel's Kevin Feige has "vague ideas" for the X-Men and Fantastic Four

With Kevin Feige out and about on the press tour for Ant-Man and the Wasp, The Los Angeles Daily News managed to grab a few words from the Marvel Studios chief about the impending Disney takeover of Fox, although Feige’s response will sound very familiar to those who’ve been following...

www.flickeringmyth.com

Everything in the article points to Feige saying those vague ideas are a long time away.

Which makes anyone reporting what those ideas are... a wishful thinker.

 

[mab7689]

We Got This Covered is a clickbait site with no reliable sources. They shouldn't be trusted in any capacity.

Quite literally what I was about to say.

 

[Darkprime]

Disney Cuts Iger Compensation by $13.5m on Fox Deal Close Miss

(Bloomberg) --
On March 4, The Walt Disney Company and Robert Iger amended his employment agreement to reduce by $13.5 million the annual total compensation opportunities that it would have made available to him upon the closing of the transaction with Twenty-First Century Fox.

• Eliminates annual base salary increase of $500,000 on closing date, maintains annual base salary at current level of $3 million
• Eliminates annualized $8 million increase in annual target bonus opportunity following closing date, maintains annual target bonus opportunity at current level of $12 million
• Decreases by $5 million annual target long-term incentive award opportunity that would have been made available for periods following closing date to $20 million

 

[Twilight_Roxas]

Is that good or bad?

 

[Darkprime]

Is that good or bad?

I'm not sure someone else will need to chime in but I wonder if the pay cut is to help cover the recent fox law suit? And their using the fox deal to cover it.

 

[Darkprime]

THR reports that the change won't go into effect until the deal closes which is even weirder.

Disney Amends CEO Bob Iger’s Total Yearly Pay as Fox Deal Closing Nears

The Walt Disney Company on Monday said it has amended chairman and CEO Bob Iger's total possible annual compensation by as much as $13.5 million as the closing of its 21st Century Fox deal nears.

www.hollywoodreporter.com

 

[Lafayettecalboy]

What are the common arguments that this merger is bad?

 

[Darkprime]

Ah yep the WSJ has some more info. So basically nothing to do with the fox deal.

The move comes a few months after the company adjusted his compensation due to shareholder pushback on his salary. Last March, Disney shareholders voted down a nonbinding endorsement of Mr. Iger’s compensation, a rare snub for the company.

 

[Twilight_Roxas]

Okay.

 

[mab7689]

A 48 hour extension. Probably suggests it will close late next week.

 

[Darkprime]

Variety is reporting that Mexico have approved.

How Fox Employees Are Bracing for Life Under Disney

With the deal about to close, a game of executive musical chairs is about to begin.

variety.com

 

[mikejs78]

I'm not sure someone else will need to chime in but I wonder if the pay cut is to help cover the recent fox law suit? And their using the fox deal to cover it.

In most deals like this, there tends to be some escrow fund or other fund to cover unexpected expenses arising from lawsuites, etc, for a period of time. I suspect that New Fox will be somewhat liable for this or that there's a fund like this. I doubt Disney will be completely on the hook, even if this lawsuite doesn't get overturned (which it might).

 

[bartholomr4]

Televisa contests endorsement of Disney-Fox: March 5, 2019 VIA GOOGLE TRANSLATE

Impugna Televisa aval a fusión Disney-Fox

Filiales de Grupo Televisa presentaron tres demandas de amparo para impugnar la autorización de Cofece para la fusión Disney-Fox.

www.reforma.com

Subsidiaries of Grupo Televisa filed three writs of amparo to challenge the authorization of the Federal Economic Competition Commission (Cofece) for the merger between The Walt Disney Company and Twenty First Century Fox.

This authorization, issued by the Plenary of the Cofece on January 31 in the CNT-126-2018 file, only refers to the markets of film distribution, licensing for streaming, music, live shows, books and video games. The Federal Institute of Telecommunications (IFT) has yet to authorize the merger in the telecommunications and broadcasting markets, the most important for Televisa, and the case could be discussed tomorrow by the Plenary of that regulatory body.

The challenge against the decision of Cofece were admitted today to proceeding by the Second Specialized Judge in Telecommunications. Silvia Cerón, summoned to the Cofece and the Disney-Fox group so that they appear in the judgment tomorrow (March 6th). In these trials it was not requested to suspend the effects of the authorization of Cofece. In addition to the resolution of Cofece, Televisa questioned the constitutionality of Article 90, third fraction, of the Federal Law of Economic Competition, which establishes the powers of Cofece to collect information before authorizing a merger, both of the merging companies and third parties.

During the proceeding before Cofece, Televisa tried to be given participation as an interested party, which the regulator rejected on October 1. This rejection caused another protection, which is also in process. Televisa expressed "its interest in not having anti-competitive effects in the markets in which it participates", both before Cofece and the IFT, which also refused to recognize it as an interested party.

The IFT also rejected, on January 11, a Televisa complaint for "illicit concentration of audiovisual content" in the Disney-Fox operation, valued at more than 71 billion dollars globally. It is expected that for IFT's permission, Disney, which owns the ESPN sports network, agrees to sell Fox Sports in Mexico, just as it did in Brazil, where the operation was authorized last week.

 

[Darkprime]

I thought IFT agreed with Brazil to approve it on the condition they sell fox sports? Im not quite sure what this means tbh.

 

[bartholomr4]

I thought IFT agreed with Brazil to approve it on the condition they sell fox sports? Im not quite sure what this means tbh.

This is Mexico......It is hard to read between the lines..... Best I can tell, is Disney did get approval on January 31st for Non Sports. Televisa is challenging the COFECE authority to make the decision..... Most importantly, Televisa is not requesting that the approval be suspended, so I am thinking the Judge is ruling on the appeal (prior decisions in October and January went against Televisa), as to the COFECE's authority to make the decision.

I tried to paste the translation as exactly as Google Translate presented it..... What do you think?

 

[Slpy3270]

This is Mexico......It is hard to read between the lines..... Best I can tell, is Disney did get approval on January 31st for Non Sports. Televisa is challenging the COFECE authority to make the decision..... Most importantly, Televisa is not requesting that the approval be suspended, so I am thinking the Judge is ruling on the appeal (prior decisions in October and January went against Televisa), as to the COFECE's authority to make the decision.

I tried to paste the translation as exactly as Google Translate presented it..... What do you think?

So it seems like divesting Fox sports channels aren't enough for Televisa. They just want the deal blocked outright.

Normally one would assume the courts would rule against Televisa. But AMLO is president of the country and he suggested there was a conflict of interest with IFT, so anything goes really.

 

[Darkprime]

This is Mexico......It is hard to read between the lines..... Best I can tell, is Disney did get approval on January 31st for Non Sports. Televisa is challenging the COFECE authority to make the decision..... Most importantly, Televisa is not requesting that the approval be suspended, so I am thinking the Judge is ruling on the appeal (prior decisions in October and January went against Televisa), as to the COFECE's authority to make the decision.

I tried to paste the translation as exactly as Google Translate presented it..... What do you think?

The last paragraphs are key I think

During the proceeding before Cofece, Televisa tried to be given participation as an interested party, which the regulator rejected on October 1. This rejection caused another protection, which is also in process. Televisa expressed "its interest in not having anti-competitive effects in the markets in which it participates", both before Cofece and the IFT, which also refused to recognize it as an interested party.

The IFT also rejected, on January 11, a Televisa complaint for "illicit concentration of audiovisual content" in the Disney-Fox operation, valued at more than 71 billion dollars globally. It is expected that for IFT's permission, Disney, which owns the ESPN sports network, agrees to sell Fox Sports in Mexico, just as it did in Brazil, where the operation was authorized last week.

It sounds like IFT are basically ignoring the Televisa challenge as well. And are set to approve it tomorrow. So it kinda sounds like a non story tbh.