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Mario Gabelli Comments on Twenty-First Century Fox Inc.

- By Holly LaFon

Twenty-FirstCenturyFoxInc. (NASDAQ:FOXA) (3.5%)(FOXA/FOX-$49.69/$49.27-NASDAQ) is a diversified media company with operations in cable network television, television broadcasting, and filmed entertainment. FOX is in the process of selling the company's cable, international, and entertainment assets to Disney for $72 billion or ~$38 per share. Following the transaction, FOXA will consist of Fox News and The Fox Broadcasting Company. The company's concentration in live news and sports programming will be a significant advantage as it negotiates with both traditional and entrant distributors. Pro forma for the Disney transaction, FOXA is trading at 7.2x EBITDA, which we view as attractive.


From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2018 shareholder letter.
This article first appeared on GuruFocus.