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News Disney and Fox come to terms -- announcement soon; huge IP acquisition
- Thread starter ohioguy
- Start date
Twilight_Roxas
Well-Known Member
It would close at 12:02 eastern time so the deal would close at 9:02 western time.
brodie999
Active Member
Good calculations! Now it says Disney is set to close the deal shortly after 9 P.M tonight which is a day early before its original finalisation date. So we won't have to wait until a day later.
Wall Street Applauds as Disney Nears Finish Line on Fox Acquisition
Wall Street is rooting for Disney as the company reaches the finish line in its quest to acquire Rupert Murdoch’s film and TV empire.
variety.com
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Good calculations! Now it says Disney is set to close the deal shortly after 9 P.M tonight which is a day early before its original finalisation date. So we won't have to wait until a day later.
Wall Street Applauds as Disney Nears Finish Line on Fox Acquisition
Wall Street is rooting for Disney as the company reaches the finish line in its quest to acquire Rupert Murdoch’s film and TV empire.
That's 9PM PT, which is 12AM ET.
bartholomr4
Well-Known Member
21CF split itself in two today and distributed new FOX and the remnants of 21CF to shareholders this morning at 8 am. Tonight at midnight eastern time the remnants of 21CF are merged into new Disney. New Disney trades for the first time tomorrow am st 9am with the old Disney ticket symbol DIS
toolsnspools
Well-Known Member
Details, according to Fox News -
www.foxnews.com
Fox Corporation becomes stand-alone company as Disney deal set to close
The Walt Disney Company’s acquisition of 21st Century Fox will become official early Wednesday morning, as Fox News is now part of the newly created Fox Corporation.
www.foxnews.com
21st Century Fox Promises “Generous Severance” for Employees Cut Due to Disney Acquisition
21st Century Fox is trying to calm nervous employees who worry for their jobs as Walt Disney nears a partial takeover of the company controlled by Rupert Murdoch, thus a top human resources executive issued a memo Monday promising "generous severance" to soon-to-be laid-off workers.
www.hollywoodreporter.com
Slpy3270
Well-Known Member
21st Century Fox Promises “Generous Severance” for Employees Cut Due to Disney Acquisition
21st Century Fox is trying to calm nervous employees who worry for their jobs as Walt Disney nears a partial takeover of the company controlled by Rupert Murdoch, thus a top human resources executive issued a memo Monday promising "generous severance" to soon-to-be laid-off workers.
Yeeeeahhh we've seen this game before. Don't think the employees are convinced it will be enough.
peter11435
Well-Known Member
I haven’t seen any fan media claim the deal was closed. Just that it will be effective at 12:02 tonight per Disney.
Ive seen a couple of articles saying its complete. Mainly from sites like IGN and EW.
Disney’s Acquisition of 21st Century Fox Will Bring an Unprecedented Collection of Content and Talent to Consumers Around the World - The Walt Disney Company
At 12:02 a.m. Eastern Time tomorrow, March 20, 2019, The Walt Disney Company’s acquisition of 21st Century Fox will become effective. With 21st Century …Read More
www.thewaltdisneycompany.com
peter11435
Well-Known Member
That’s not how that works
All you're looking at is their $19B in debt and ignoring their $19B in cash reserves.
bartholomr4
Well-Known Member
Also, the debt has a face value and a market value.... if Disney were to pay it off now (which may not be possible based on covenants in the commercial bonds), or refinance it, the actual debt total would be different (basically because the interest rates paid on the debt is higher than current market rates, and makes the market value/ cost higher).... The new Fox will also pay a pro rated portion of the existing 21CF debt Disney is assuming (the portion of the debt allocated to the new fox assets) which we won’t know the total until a bunch of closing ratios are calculated..... The June 21 merger agreement (see Sec.gov June 21, 2018) capped the debt assumed by Disney at 13.8 billion, with adjustments based on anything retired between the merger announcement date and the merger (in other words the total would go down).... Lastly there are tax implications which can adjust all of these cash payments as well. The merger may trigger capital gains tax payments which could cause a payment from New Fox to Disney.
Lafayettecalboy
Member
I planning to watch my favorite Fox film The Sandlot right now as a tribute before they become part of Disney in a few hours.
capsshield
Active Member
I think Disney plus will rotate its catalog of films just as it does now however I'm sure there will be product that appears more permanent over the first year or so.
by rotating the classics they can advertise the new additions as a hook to bring in subscriptions.
I know with Netflix dropping the marvel shows and losing the Disney films my money will probably be going to Disney plus, especially if they put up the old world of color TV show that ran every Sunday night.
I know there has been a lot of talk about fox stuff but Disney has produced and aired a lot of great stuff I hope to see in the vault
by rotating the classics they can advertise the new additions as a hook to bring in subscriptions.
I know with Netflix dropping the marvel shows and losing the Disney films my money will probably be going to Disney plus, especially if they put up the old world of color TV show that ran every Sunday night.
I know there has been a lot of talk about fox stuff but Disney has produced and aired a lot of great stuff I hope to see in the vault