HauntedMansionFLA
Well-Known Member
Plus, Disney has a huge catalog of The Winderful World Of Disney and things we haven’t seen in years.
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News Disney and Fox come to terms -- announcement soon; huge IP acquisition
- Thread starter ohioguy
- Start date
the.dreamfinder
Well-Known Member
Well, I hope this deal is TWDC’s snorting coke on the bathroom floor moment. I really would like to see this deal fail and see a breakup of the modern iteration of the company. In an ever more competitive landscape, focus will be of the upmost importance. Owning a bunch of TV/Cable channels and another movie studio and Sat TV services won’t help, they’ll only hinder. This company can’t even properly service their new IPs in the comprehensive way they have for “Disney”, does that remind anyone of a certain American automaker who went bust?
tirian
Well-Known Member
smile
Well-Known Member
why did i get an alert you quoted me here?
, btw... somebody's on that floor
comcast to the rescue?! i've heard stranger
It happens when they post a reply and then delete it, or edit your quote away. Happens when losing track of multi-quoting...
Or deleting one's post before @The Mom does.
Rodan75
Well-Known Member
Unfortunately, Disney as you described would have never survived. I get the nostalgia, but Eisner’s and Iger’s acquisition strategies saved Disney from becoming Hanna-Barbera. At least this iteration of Disney honors the past to some capacity.
the.dreamfinder
Well-Known Member
Nah. Disney had/has an ecosystem which self reinforces built on generations of goodwill. HB never had that and such a comparison is specious, at best.
Now, companies like Kodak and Polaroid, especially the later, are better worst case scenarios for a post Walt Disney that didn’t adapt.
FWIW, Disney buying CapCities was a mistake because they should have been focusing on their core products, which suffered from the decreased attention/scrutiny, and expanding the company into video games and preparing to wholly embrace the internet.
Sirwalterraleigh
Premium Member
Yeah...except that $0.40 of every dollar of walkway cash has come from it for 20 years...95% of that from espn. Now that’s in collapse and bob can’t figure out what to do.
So none of the money people - the only people disney listens to - agree with you.
For better or worse.
Rodan75
Well-Known Member
HB is really a worst case scenario, but there are plenty of similar dead brands that did have cult followings. Disney has actively worked to create and harvest the cycle of nostalgia. WB could be in the same spot Disney is today, if they had made different choices, but now they are just a division of AT&T.
There is a multiverse worth of decisions that could be debated as moving too far away from Walt’s vision since his death. Some decisions definitely expanded the meaning of Disney, and others didn’t and plenty that totally rely on your individual viewpoint and age. (Remember it wasn’t long ago that CGI animation was viewed as Anti-Disney. )
AnotherDayAnotherDollar
Well-Known Member
Disney raises bid for Fox assets to $38 a share
https://www.cnbc.com/2018/06/20/disney-raises-bid-for-fox-assets-to-38-a-share.html
https://www.cnbc.com/2018/06/20/disney-raises-bid-for-fox-assets-to-38-a-share.html
CTXRover
Well-Known Member
Disney offers $71.3 billion cash and stock offer for Fox; Fox accepts as superior offer
https://www.google.com/amp/s/variet...-counter-bigger-offer-comcast-1202851891/amp/
https://www.google.com/amp/s/www.ho...boosts-fox-bid-713-billion-cash-stock-1120841
- The new bid rivals Comcast's $35 a share all-cash bid last week, in a deal that would be valued at $65 billion.
- Fox called the new Disney offer "superior" to the Comcast proposal made last week.
- Fox's Rupert Murdoch said in statement, "We remain convinced that the combination of [Fox's] iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world.
- Source: https://www.google.com/amp/s/www.cn...-raises-bid-for-fox-assets-to-38-a-share.html
https://www.google.com/amp/s/variet...-counter-bigger-offer-comcast-1202851891/amp/
https://www.google.com/amp/s/www.ho...boosts-fox-bid-713-billion-cash-stock-1120841
Last edited:
CTXRover
Well-Known Member
Press Release of updated merger agreement from Fox:
https://www.21cf.com/news/21st-cent...ed-and-restated-merger-agreement-with-disney/
NEW YORK – June 20, 2018 – Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: FOXA, FOX) announced today that it has entered into an amended and restated merger agreement with The Walt Disney Company (“Disney”) (NYSE: DIS) pursuant to which Disney has agreed to acquire for a price of $38 per 21CF share the same businesses Disney agreed to acquire under the previously announced merger agreement between 21CF and Disney (the “Disney Merger Agreement”). This price represents a significant increase over the purchase price of approximately $28 per share included in the Disney Merger Agreement when it was announced in December 2017. The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018.
Under the amended and restated Disney Merger Agreement, Disney would acquire those businesses on substantially the same terms, except that, among other things, Disney’s offer allows 21CF stockholders to elect to receive their consideration, on a value equalized basis, in the form of cash or stock, subject to 50/50 proration. The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32.
“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF‘s iconic assets, brands and franchises with Disney‘s will create one of the greatest, most innovative companies in the world.“
In light of the revised terms contained in the amended and restated Disney Merger Agreement, 21CF’s board, after consultation with its outside legal counsel and financial advisors, has not concluded that the unsolicited proposal it received on June 13, 2018 from Comcast could reasonably be expected to result in a “Company Superior Proposal” under the Disney Merger Agreement.
However, the amended and restated Disney Merger Agreement contains no changes to the provisions relating to the Company’s directors’ ability to evaluate a competing proposal.
As announced on May 30, 2018, 21CF has established a record date of May 29, 2018 and a meeting date of July 10, 2018, for a special meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the Disney Merger Agreement. 21CF has determined to postpone its special meeting of stockholders to a future date in order to provide stockholders the opportunity to evaluate the terms of Disney’s revised proposal and other developments to date. Once 21CF determines the new date for 21CF’s special meeting of stockholders, the date will be communicated to 21CF stockholders.
https://www.21cf.com/news/21st-cent...ed-and-restated-merger-agreement-with-disney/
NEW YORK – June 20, 2018 – Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: FOXA, FOX) announced today that it has entered into an amended and restated merger agreement with The Walt Disney Company (“Disney”) (NYSE: DIS) pursuant to which Disney has agreed to acquire for a price of $38 per 21CF share the same businesses Disney agreed to acquire under the previously announced merger agreement between 21CF and Disney (the “Disney Merger Agreement”). This price represents a significant increase over the purchase price of approximately $28 per share included in the Disney Merger Agreement when it was announced in December 2017. The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018.
Under the amended and restated Disney Merger Agreement, Disney would acquire those businesses on substantially the same terms, except that, among other things, Disney’s offer allows 21CF stockholders to elect to receive their consideration, on a value equalized basis, in the form of cash or stock, subject to 50/50 proration. The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32.
“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF‘s iconic assets, brands and franchises with Disney‘s will create one of the greatest, most innovative companies in the world.“
In light of the revised terms contained in the amended and restated Disney Merger Agreement, 21CF’s board, after consultation with its outside legal counsel and financial advisors, has not concluded that the unsolicited proposal it received on June 13, 2018 from Comcast could reasonably be expected to result in a “Company Superior Proposal” under the Disney Merger Agreement.
However, the amended and restated Disney Merger Agreement contains no changes to the provisions relating to the Company’s directors’ ability to evaluate a competing proposal.
As announced on May 30, 2018, 21CF has established a record date of May 29, 2018 and a meeting date of July 10, 2018, for a special meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the Disney Merger Agreement. 21CF has determined to postpone its special meeting of stockholders to a future date in order to provide stockholders the opportunity to evaluate the terms of Disney’s revised proposal and other developments to date. Once 21CF determines the new date for 21CF’s special meeting of stockholders, the date will be communicated to 21CF stockholders.
Does anyone else get the feeling that Disney essentially did the "Price is Right-bid-$1-more-than-the-previous-highest-bid" for Fox and they're going to take it regardless of what Comcast does? Something about this doesn't smell good...
GhostHost1000
Premium Member
poor comcast
although i'm not sure this is best for Disney.... but still they won the game they played
although i'm not sure this is best for Disney.... but still they won the game they played
AnotherDayAnotherDollar
Well-Known Member
And my post is still waiting for moderator approval because of a link lol.
Regardless I expect Comcast to top this (and soon unless 21CF adjourns or postpones the shareholders voting). They will probably go to 85B+.
Whoever buys 21CF will end up overpaying at this point.
Regardless I expect Comcast to top this (and soon unless 21CF adjourns or postpones the shareholders voting). They will probably go to 85B+.
Whoever buys 21CF will end up overpaying at this point.
Rodan75
Well-Known Member
With the mix of cash and stock, Disney has plenty of room to grow, so anything from Comcast at this point is just to mess with Disney. Interesting they haven’t announced a counter to SKY yet (if they are going to). Expected that this morning as well.
$38.00 a share is more than $1.00 more than $35.00 a share. This offer puts much more pressure on Comcast. The tax savings is about 20% on the stock. Therefore for the Murdochs who will probably take the full amount in stock would require well over $42.00 a share. Can Comcast afford to borrow another $13.00 billion on top of the $65 billion already offered and the $23 billion for Sky and take on $14 billion in Fox debt. The total debt Comcast would add is $115 billion minimum. I Disney would be taking on the same $23 billion debt for Sky, $14 billion of Fox debt and $35.7 billion in purchase debt or a total of $72.7 billion in bebt.