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Billionaire media investor Mario Gabelli wonders whether Trump’s like of Fox might help Disney deal

“The Trump administration may be more open to the Disney-Twenty-First Century Fox deal than other proposed media mergers, billionaire investor Mario Gabelli told CNBC on Thursday” writes Berkeley Lovelace Jr for cnbc.com. Gabelli called into CNBC shortly after Disney announced a deal to pay $52.4 billion in stock for many parts of Fox, including Fox movie studios, Nat Geo, stakes in Sky and Hulu, and regional sports networks, but not Fox News Channel and other Fox television broadcasting assets. Gamco owned nearly 2.1 million Time Warner shares and about 1.4…

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Disney buys big chunk of 21st Century Fox in $52.4 billion deal; Iger to remain with company

“To accomplish the deal, Fox must first spin off the assets that it plans to retain, including Fox News, the Fox broadcast network, Fox Sports 1 and Fox Sports 2 and the Big Ten network” writes Meg James for latimes.com. Disney is assuming $6.3 billion of Fox cash and $20 billion in debt, resulting in the deal value of about $66 billion. Source: latimes.com Share This:

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Disney buys much of Rupert Murdoch’s 21st Century Fox in deal that will reshape Hollywood

“To accomplish the deal, Fox must first spin off the assets that it plans to retain, including Fox News, the Fox broadcast network, Fox Sports 1 and Fox Sports 2 and the Big Ten network” writes Meg James for latimes.com. Disney is assuming $6.3 billion of Fox cash and $20 billion in debt, resulting in the deal value of about $66 billion. Source: latimes.com Share This:

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Wall Street climbs as tax reform enters last lap

“On Wednesday, Republicans in the Senate and the House reached a deal on final tax legislation that would slash the corporate tax rate to 21 percent” reports foxbusiness.com. Disney’s shares rose 1.77 percent and Fox shares were up marginally.”We have a pretty positive background, investors are focused on the tax deal that they are closed to an agreement between the House and the Senate,” said Scott Brown, chief economist at Raymond James in St.(Reuters) – U.S. stocks climbed higher on Thursday, boosted by gains in technology and banking shares and…

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Disney to Buy Fox Film and TV Businesses in a $66B Deal

“Immediately prior to the acquisition, Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders” reports fortune.com. Walt Disney Co on Thursday agreed to buy film, TV and international assets from Rupert Murdoch’s Twenty-First Century Fox (fox) for $52.4 billion in stock as the world’s largest entertainment company seeks even greater scale to combat growing digital rivals Netflix and Amazon.com.Disney’s global footprint also expands with the…

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GOP Reaches Tax Deal •

“WASHINGTON (Reuters) – Congressional Republicans reached a deal on final tax legislation on Wednesday, clearing the way for final votes next week on a package that would slash the U.S. corporate tax rate to 21 percent and cut taxes for wealthy Americans” writes Min Read for reuters.com. As they finalized the biggest tax overhaul in 30 years, Republicans wavered for weeks on whether to slash the top income tax rate for the wealthy.Trump appeared in the White House with several middle-class families he said would benefit from the tax bill.Republicans,…

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Disney and 21st Century Fox used 4 words that should make employees nervous

“Disney has agreed a deal to acquire much of 21st Century Fox’s studio and television production assets for $52.4 billion. 21st Century Fox shareholders will receive 0.2745 Disney shares for each 21st Century Fox share they own” writes Jonathan Garber for businessinsider.com. In the press release announcing the deal, the companies used four words that should make Disney and 21st Century Fox employees nervous: “cost savings from efficiencies.”. In corporate speak, “cost savings from efficiencies” indicates areas where investment bankers or the firms involved in the deal have identified redundancies…

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Disney Buys Fox Assets in $52B Split of Murdoch Realm

“That facade was shattered last month with the revelation that Disney had discussed acquiring the Fox assets” writes unknown author for bloomberg.com. Disney beat out rival bidder Comcast Corp. for the Fox assets in a deal brought on by dramatic changes in the media landscape.Click here to read more about why Iger wants Fox’s assets.The deal will give Disney $2 billion of cost savings and start adding to earnings two years after the takeover is complete. Source: bloomberg.com Share This:

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Disney to buy 21st Century Fox in a deal valued at $52.4 billion

“Under terms of the agreement, which has been anticipated in recent weeks, 21st Century shareholders will receive 0.2745 Disney shares for each 21st Century share they own” writes Reporter Editor for marketwatch.com. After the deal closes, 21st Century will spin off Fox Broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and Big Ten Network to its shareholders.Based on Wednesday’s closing prices, that would value 21st Century shares at $29.54 each, which is 9.8% below Wednesday’s closing price of $32.75. Source: marketwatch.com Share This:

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