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

[bartholomr4]

It means Disney will be borrowing lots of cash.

After the final election results are determined, the allocation of the consideration in the Acquisition will be calculated using the formulas set forth in the Merger Agreement. Based on the preliminary election results and the proration and adjustment procedures set forth in the Merger Agreement, holders of 21CF shares that elected to receive cash for their 21CF shares are expected to receive a portion of their consideration in shares of New Disney common stock.

 

[capsshield]

As things exist today Disney's Pixar and animation studios compete with Blue Sky studios and each other. Thursday the competition between all three will be the same as the competition between Pixar and DAS. Today Disney releases a Pixar and 2 DAS film about every 2 years, or vis versa. By adding Blue Sky into the mix they can now release an additional movie and have a steady release of 1 animated feature every 4 - 6 months instead of every 6 - 8 months. This also takes a little pressure off of everyone if things in production are not working as well as they should.

With James Gunn returning to Guardians perhaps they might want to rethink bringing back Uncle John to help upgrade Blue Sky to a slate of pictures and schedule more suited to the Disney brand and IP creation houses.

This same plan also works well with the Marvel cinema universe. Use the extra capacity to go from 3 to 4 films a year and then create 2-3 projects for Disney plus with the same crews that would have made those extra Fox theatrical releases.

Disney could even decide to show movies on Disney plus first for a month and then release them in the theaters if they chose to do so with and ad for Disney plus in front of the release. "Watch this movie again and a thousand more anytime anywhere on Disney Plus"

I suspect that when things begin to settle down a lot of synchronicity will emerge and Disney will begin to offer packages of Hulu, Disney Plus, ESPN plus, Stars, all of their printed publications, Web sites, and Disney channels all watchable on any device anywhere. Buy two packages a month and add as many additional packages as you want for $5.00 each. This will bypass Comcast or any provider from cutting them out of the picture and allow them to pull away from any provider that doesn't play ball.

What we are seeing is the evolution of twenty-first century entertainment.
Every book, Magazine, video, cartoon, movie, song, web site, Tv channel, game, etc…, that Disney or any of it's subsidiaries ever produced available to stream if you want that service in your package. Eventually we will end up with 3-4 major players providing a similar package. Remember when it was CBS, NBC, and ABC well that is where it will go again but with a lot more choices. Under it all will be your internet service provider.

I think within 3 years the basics will be there ready to deliver. Within 5 years the connections will be solid and by ten years 50% of the population will be in the cue using the services.

 

[jt04]

As things exist today Disney's Pixar and animation studios compete with Blue Sky studios and each other. Thursday the competition between all three will be the same as the competition between Pixar and DAS. Today Disney releases a Pixar and 2 DAS film about every 2 years, or vis versa. By adding Blue Sky into the mix they can now release an additional movie and have a steady release of 1 animated feature every 4 - 6 months instead of every 6 - 8 months. This also takes a little pressure off of everyone if things in production are not working as well as they should.

With James Gunn returning to Guardians perhaps they might want to rethink bringing back Uncle John to help upgrade Blue Sky to a slate of pictures and schedule more suited to the Disney brand and IP creation houses.

This same plan also works well with the Marvel cinema universe. Use the extra capacity to go from 3 to 4 films a year and then create 2-3 projects for Disney plus with the same crews that would have made those extra Fox theatrical releases.

Disney could even decide to show movies on Disney plus first for a month and then release them in the theaters if they chose to do so with and ad for Disney plus in front of the release. "Watch this movie again and a thousand more anytime anywhere on Disney Plus"

I suspect that when things begin to settle down a lot of synchronicity will emerge and Disney will begin to offer packages of Hulu, Disney Plus, ESPN plus, Stars, all of their printed publications, Web sites, and Disney channels all watchable on any device anywhere. Buy two packages a month and add as many additional packages as you want for $5.00 each. This will bypass Comcast or any provider from cutting them out of the picture and allow them to pull away from any provider that doesn't play ball.

What we are seeing is the evolution of twenty-first century entertainment.
Every book, Magazine, video, cartoon, movie, song, web site, Tv channel, game, etc…, that Disney or any of it's subsidiaries ever produced available to stream if you want that service in your package. Eventually we will end up with 3-4 major players providing a similar package. Remember when it was CBS, NBC, and ABC well that is where it will go again but with a lot more choices. Under it all will be your internet service provider.

I think within 3 years the basics will be there ready to deliver. Within 5 years the connections will be solid and by ten years 50% of the population will be in the cue using the services.

Interesting but hoping there are still outlets for independent creators.

Do you know how many streams or users Disney+ will allow per subscription?

 

[Slpy3270]

With James Gunn returning to Guardians perhaps they might want to rethink bringing back Uncle John to help upgrade Blue Sky to a slate of pictures and schedule more suited to the Disney brand and IP creation houses.

You are comparing a situation where a man said pretty disgusting jokes that otherwise didn't harm anyone in the past, and later apologized for those jokes and matured, to a situation where a man facilitated a hostile work environment towards women and went on to harass, if not assault, them for years and has yet to pay any reparation for those women who's careers are forever dashed.

Shame on you.

 

[capsshield]

Not sure if I would call anything John did assault or a crime for that matter. Touching someone is not necessarily an assault. I don't know the full extent of what he did or didn't do so I could be wrong. He did apologize and admit that he might have made some people uncomfortable and that he never intended to do that. I did not hear anything about him propositioning anyone for a job or to keep one either. Did he create a hostile workplace? I don't think so. Did he make some workers feel uncomfortable? Absolutely Did his behavior require dismissal? Probably. As long as people work together these situations will occur, and each situation will require different reactions and resolutions.

I think he was probably one of the mildest of offenders caught up in the me too movement that I've heard about.

Maybe he wasn't, but I didn't hear anything that made him sound like a rapist or sexual predator. What I heard sounded like a guy who was very touchy and friendly with the people around him that crossed a few personal boundaries that he wouldn't have crossed if he felt he was making them uncomfortable. I also doubt if any careers were dashed, workers made uncomfortable, yes. I bet he would still have a job if Disney didn't get caught in the SJW movement

If anything 80 percent of those people working there had a chance at a career because of the success he brought to Pixar, and that isn't defending his bad behavior. Just saying he was a huge driving force behind the companies success.

People deserve second chances if they can change and show remorse. I for one am glad he has found another job and been given a second chance.

Shame on you for judging and condemning others into a life of disgrace with no chance at redemption without knowing the full facts.
He was hired at another studio that knows full well a lot more of the facts then you or I. That should say something

 

[Cosmic Commando]

I don't know the full extent of what he did or didn't do so I could be wrong.

You could have stopped here, and saved yourself a lot of keystrokes.

 

[AnotherDayAnotherDollar]

So if this deal is all finalised soon for Disney/ Fox what are we expecting next?

Do we think the April shareholders event where Disney+ will be shown off will also be where Disney go into depth about what the plans are for everything to do with Fox? Or do we think they'll just announce stuff, as and when they see fit?

To me there are still a lot of unknowns?

Also, has there been any more speculation on Disney buying out more of Hulu from AT&T or Comcast? Where they've clawed money back from the 39% of SKY and selling of the RSNs that they would use that money to clear up anything else they may want before just going into driving down the debt

1. Closing 03/20 at 12:02AM EST.
2. Hit the ground running. Integration. Synergies. That means lots of layoffs unfortunately, but it's the nature of the beast.
3. Officially sell YES. Already have buyers in Yankees, Amazon, and Sinclair for 3.5B
4. Officially sell rest of RSNs. Have interested buyers in bidding auctions right now.
5. Finalize sale of European A&E. Hearst is interested and may involve asset swap where Disney gets more equity on ESPN for giving up A&E to Hearst
6. Finalize sale of Fox Sports Latin America/Brazil. Some interested buyers, including Sony
7. Sell WD/Sony JV distribution in Mexico. Sony has already said they will buy it
8. Acquire 10% of Hulu from AT&T. Talks are already rumored to been taking place. I would think Disney is trying to buy out the SW streaming contract from them as well so they don't have to wait until 2024
9. Sell Endemol. Apollo and Fox were looking into it and had bids from Sinclair and Sony. Rumor had it Sony was not too interested in this asset. I'd reckon they paused the sale until the Fox acquisition was completed.
10. Other things such as try to make a push to get Comcast's 30% of Hulu and their Marvel rights, acquire all SM rights from Sony, acquire Indy 1-4 distribution rights, etc

Not necessarily in that order and multiple things can happen in parallel.

This was my thought too.

Disney is essentially building a "third pillar" beyond television and theatrical films.

Some of the redundancies (like Blue Sky) seem most poised for Disney+ integration instead.

Pixar/WDAS are terribly expensive producers of animated content. As much as we'd all like it, I doubt they'd spend 100+ million on a Disney+ original. Really Pixar Vancouver would have been better suited and probably would have survived if Disney+ was on the docket years ago.

I agree. I have been saying this will be the case. Blue Sky can create content for Disney+ (including some of the rumored What If Marvel series or some SW shows). They could also make 50MM movies for the service or smaller budgeted 75-100MM movies for theatrical release. They are going to be what DisneyToon failed to be.

 

[Rodan75]

1. Closing 03/20 at 12:02AM EST.
2. Hit the ground running. Integration. Synergies. That means lots of layoffs unfortunately, but it's the nature of the beast.
3. Officially sell YES. Already have buyers in Yankees, Amazon, and Sinclair for 3.5B
4. Officially sell rest of RSNs. Have interested buyers in bidding auctions right now.
5. Finalize sale of European A&E. Hearst is interested and may involve asset swap where Disney gets more equity on ESPN for giving up A&E to Hearst
6. Finalize sale of Fox Sports Latin America/Brazil. Some interested buyers, including Sony
7. Sell WD/Sony JV distribution in Mexico. Sony has already said they will buy it
8. Acquire 10% of Hulu from AT&T. Talks are already rumored to been taking place. I would think Disney is trying to buy out the SW streaming contract from them as well so they don't have to wait until 2024
9. Sell Endemol. Apollo and Fox were looking into it and had bids from Sinclair and Sony. Rumor had it Sony was not too interested in this asset. I'd reckon they paused the sale until the Fox acquisition was completed.
10. Other things such as try to make a push to get Comcast's 30% of Hulu and their Marvel rights, acquire all SM rights from Sony, acquire Indy 1-4 distribution rights, etc

Not necessarily in that order and multiple things can happen in parallel.



I agree. I have been saying this will be the case. Blue Sky can create content for Disney+ (including some of the rumored What If Marvel series or some SW shows). They could also make 50MM movies for the service or smaller budgeted 75-100MM movies for theatrical release. They are going to be what DisneyToon failed to be.

I think they should keep Endemol. Disney def needs more reality TV assets.

 

[the.dreamfinder]

I agree. I have been saying this will be the case. Blue Sky can create content for Disney+ (including some of the rumored What If Marvel series or some SW shows). They could also make 50MM movies for the service or smaller budgeted 75-100MM movies for theatrical release. They are going to be what DisneyToon failed to be.

WDAS and Pixar movies cost so much becuase they don’t receive any government subsidies, invest in proprietary software/R&D and they are both located in expensive cities. CT film production subsidies keep those films cheap and if they were to go away, and there is growing resistance to these programs (see Louisiana, NC, British Columbia budget crises), they’re slightly cheaper WDAS/Pixar films.

Long term they’d be better off expanding Pixar and WDAS to included prestige TV (imagine “Zootopia” sequel as a feature quality series), limited series, theatrical short with every Disney/Fox release and smaller stop motion/hand drawn features.

 

[Rodan75]

WDAS and Pixar movies cost so much becuase they don’t receive any government subsidies, invest in proprietary software/R&D and they are both located in expensive cities. CT film production subsidies keep those films cheap and if they were to go away, and there is growing resistance to these programs (see Louisiana, NC, British Columbia budget crises), they’re slightly cheaper WDAS/Pixar films.

Long term they’d be better off expanding Pixar and WDAS to included prestige TV (imagine “Zootopia” sequel as a feature quality series), limited series, theatrical short with every Disney/Fox release and smaller stop motion/hand drawn features.

While I understand the point, I don't think Pixar and WDAS can expand much without losing their effectiveness. Having a third production house makes sense, especially if they can go toe to toe with Illumination on a cost basis. I would prefer WDAS and Pixar to focus in on 1 production a year each instead of 3 productions every 2 years (which seems to be the cycle they have been on). If Blue Sky can fill that extra slot every year with a solid offering and produce D+ original content I think all of the Studios would be stronger for it. Edit - This only works if Blue Sky can produce original IPs vs. cheapquels like DisneyToon was relegated to creating.

In regard to subsidies, that is a great point and an ongoing concern for all productions.

I'm super curious to see what Universal does with DreamWorks over time. DreamWorks film costs have generally been in league with Pixar's, will they be successful going down to Illumination level budgets?

 

[Twilight_Roxas]

Blue Sky adapted some films like Horton Hears a Who, Robots, Epic, and The Peanuts Movie.

 

[ImperfectPixie]

Not sure if I would call anything John did assault or a crime for that matter. Touching someone is not necessarily an assault. I don't know the full extent of what he did or didn't do so I could be wrong. He did apologize and admit that he might have made some people uncomfortable and that he never intended to do that. I did not hear anything about him propositioning anyone for a job or to keep one either. Did he create a hostile workplace? I don't think so. Did he make some workers feel uncomfortable? Absolutely Did his behavior require dismissal? Probably. As long as people work together these situations will occur, and each situation will require different reactions and resolutions.

I think he was probably one of the mildest of offenders caught up in the me too movement that I've heard about.

Maybe he wasn't, but I didn't hear anything that made him sound like a rapist or sexual predator. What I heard sounded like a guy who was very touchy and friendly with the people around him that crossed a few personal boundaries that he wouldn't have crossed if he felt he was making them uncomfortable. I also doubt if any careers were dashed, workers made uncomfortable, yes. I bet he would still have a job if Disney didn't get caught in the SJW movement

If anything 80 percent of those people working there had a chance at a career because of the success he brought to Pixar, and that isn't defending his bad behavior. Just saying he was a huge driving force behind the companies success.

People deserve second chances if they can change and show remorse. I for one am glad he has found another job and been given a second chance.

Shame on you for judging and condemning others into a life of disgrace with no chance at redemption without knowing the full facts.
He was hired at another studio that knows full well a lot more of the facts then you or I. That should say something

That the women working at Pixar developed and named a maneuver designed to discourage him from putting his hand on their thighs says A TON. I'm sorry, I don't care how close a friend I consider a member of the opposite sex, my husband is the only man allowed to touch any part of my legs.

EDIT: And if a co-worker did it? I don't care what that person is CEO or head of, that person would know IMMEDIATELY that behavior isn't okay. I've worked in predominantly-male workplaces my entire life, and never had an issue with anyone crossing the line that badly. Jokes and flirting, sure...but actually laying hands on me? NOPE. They would have found themselves looking at the ceiling from the flat of their back.

EDIT 2: Isn't just touching someone without their consent assault?

 

[Slpy3270]

I think they should keep Endemol. Disney def needs more reality TV assets.

The last thing Disney wants is to be a magnet for daily tabloid press, which is what reality shows like those from Endemol are. The only reasons they would want to keep the studio are a) to buy out Apollo's stake in the company and absorb it into their core TV units so that they can further expand their international presence, and b) to gain access to their game show and competition IP, which Disney would want if they want to compete with FremantleMedia and Sony on that front (Disney only has the Americanized Who Wants to Be a Millionaire, Win, Lose or Draw and Win Ben Stein's money in their portfolio, as far as I know) and produce in-house content for ABC's "Sunday Fun and Games" block during the summer.

The only non-reality/game IP Disney would be interested in from Endemol is Mr. Bean. Endemol owns the character through Tiger Aspect Productions.

 

[mab7689]

The Walt Disney Company Announces Expiration and Final Results of Exchange Offers and Consent Solicitations for 21st Century Fox America, Inc. Notes

The Walt Disney Company (“TWDC”) (NYSE: DIS) announces the expiration and final results of the offers to exchange (the “Exchange Offers”) any and all

www.businesswire.com

 

[Crossfire]

I do wonder how many movies Disney+Fox are going to release per year, maybe around 20 movies? That's around how much Universal and Warner releases per year.

 

[Darkprime]

I do wonder how many movies Disney+Fox are going to release per year, maybe around 20 movies? That's around how much Universal and Warner releases per year.

I believe Iger has actually said Fox will actually be slowing down its output. Maybe as little as 3-5 films a year.

 

[MisterPenguin]

I believe Iger has actually said Fox will actually be slowing down its output. Maybe as little as 3-5 films a year.

I've been following this and I've heard no such thing. I did hear someone presume Fox would be releasing less to theaters as they will be directing some of their content to original Hulu programming.

 

[CaptainAmerica]

I've been following this and I've heard no such thing. I did hear someone presume Fox would be releasing less to theaters as they will be directing some of their content to original Hulu programming.

You're both right. The Fox studios won't be slowing down, but they'll be releasing fewer Fox-branded theatrical films.

 

[Darkprime]

20th Century Fox's Stacey Snider could be heading to Warner Bros.

WarnerMedia Setting Interim Leadership Team After Kevin Tsujihara Ouster (EXCLUSIVE)

Warner Media is establishing an interim management team following the exit of Kevin Tsujihara.

variety.com

 

[bartholomr4]

After the final election results are determined, the allocation of the consideration in the Acquisition will be calculated using the formulas set forth in the Merger Agreement. Based on the preliminary election results and the proration and adjustment procedures set forth in the Merger Agreement, holders of 21CF shares that elected to receive cash for their 21CF shares are expected to receive a portion of their consideration in shares of New Disney common stock.

NEW YORK and BURBANK, Calif., March 18, 2019/PRNewswire/ -- Twenty-First Century Fox, Inc. ("21CF") (NASDAQ: FOXA, FOX) and The Walt Disney Company ("Disney") (NYSE: DIS) announced today that the distribution adjustment multiple used to determine the portion of each share of 21CF common stock to be exchanged for common stock of Fox Corporation ("FOX") in the Distribution (as defined below) (the "Distribution Adjustment Multiple"), has been calculated to be approximately 1.357190, in accordance with the Amended and Restated Agreement and Plan of Merger (the "Merger Agreement"), dated as of June 20, 2018, by and among 21CF, Disney, TWDC Holdco 613 Corp., the holding company that will own both Disney and 21CF following the completion of the transactions contemplated thereby, and certain of Disney's other subsidiaries.
21CF expects to distribute, at approximately 8:00 a.m. Eastern Time tomorrow, all issued and outstanding shares of FOX common stock to 21CF stockholders (other than holders of the shares held by subsidiaries of 21CF) on a pro rata basis (the "Distribution"). Pursuant to the Amended and Restated Distribution Agreement and Plan of Merger, dated as of June 20, 2018, by and between 21CF and 21CF Distribution Merger Sub, Inc., and because the Distribution Adjustment Multiple is approximately 1.357190, 0.263183 of each share of 21CF common stock held at the time of the Distribution will be exchanged for 1/3 of one share of FOX common stock of the same class, and holders will receive cash in lieu of any fractional share of FOX common stock they otherwise would have been entitled to receive in connection with the Distribution. Following the completion of the Distribution, holders will continue to own 0.736817 of each such share of 21CF common stock, which will remain issued and outstanding until 21CF merges with a subsidiary of Disney (the "Acquisition"). The 0.736817 of each share of 21CF common stock remaining outstanding following the Distribution will be exchanged for the amount of consideration in the Acquisition that a whole share of 21CF common stock would have been exchanged for before giving effect to the Distribution, because the consideration that holders will receive in the Acquisition is automatically adjusted pursuant to the Merger Agreement to take the Distribution into account by multiplying the value of such consideration by the Distribution Adjustment Multiple.