|Bid||112.140 x 1200|
|Ask||112.170 x 1300|
|Day's Range||111.840 - 114.588|
|52 Week Range||97.680 - 120.200|
|Beta (3Y Monthly)||0.81|
|PE Ratio (TTM)||13.45|
|Earnings Date||Feb 4, 2019 - Feb 8, 2019|
|Forward Dividend & Yield||1.68 (1.45%)|
|1y Target Est||121.33|
CEO Chris Ripley said at an investor conference in October Fox's 22 regional sports networks would be an "interesting fit" for Sinclair Broadcast Group.
In Washington, a White House official rejected the Chinese line as "complete spin and propaganda" and said the standoff did not raise hopes for a positive meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 next week. After months of bickering over trade, the disputed South China Sea and U.S. support for Chinese-claimed Taiwan, Xi and Trump took a step back from the edge with an ice-breaking telephone call early this month.
Amazon has placed a first-round bid for Disney's 22 regional sports networks. Amazon's presence could scare traditional media players like Fox into making a more aggressive bid. Disney's best strategy may be to keep Amazon around as a bidder while not ultimately selling the channels to the company.
Amazon.com Inc. is bidding on all 22 regional sports networks that the Walt Disney Co. acquired from 21st Century Fox , CNBC reported Tuesday. Apollo Global Management , KKR , The Blackstone Group , Sinclair Broadcast Group and Tegna have also made first-round bids for the 22 networks, CNBC reported, citing sources familiar with the matter. CNBC added that the second round of bids is expected by the year's end, and due diligence on the bid begins next week. The Department of Justice announced in June that Disney would have to divest the regional sports networks as a condition of its acquisition of large parts of Fox. Shares of Amazon have gained 30% in the year to date, while the tech-heavy Nasdaq has gained 0.9%. The S&P 500 has fallen 0.5%.
In a move that could further transform the television landscape, Amazon.com Inc. has bid on the 22 Fox regional sports networks that The Walt Disney Co. must sell. The networks, which include the New York-based YES Network that broadcasts Yankees games, were part of Disney’s $71 billion acquisition of 21st Century Fox’s entertainment assets. The U.S. Department of Justice OKed that deal as long as Disney (NYSE: DIS) divests Fox’s regional sports networks since it already owns the sports network ESPN.
Disney, which is buying Twenty-First Century Fox Inc's film and television assets, had said it would divest 22 of Fox's regional sports networks as part of its agreement with the U.S. Department of Justice. The story gave no indication about the value of the bids.
The next bidding war stemming from Walt Disney’s blockbuster $71 billion acquisition of the majority of 21st Century Fox’s entertainment assets has begun.
Amazon wants to buy all 22 networks on offer, CNBC said, citing sources familiar with the matter. Apollo Global Management, KKR & Co., Blackstone Group LP, Sinclair Broadcast Group Inc. and Tegna Inc. are also among the bidders, the channel said.
Amazon's deep pockets could shake up the bidding activity for a slate of networks including the Yankees Entertainment and Sports (YES) Network.
Disney, which is buying Twenty-First Century Fox Inc's film and television assets, had said it would divest 22 of Fox's regional sports networks as part of its agreement with the U.S. Department of Justice. If Amazon clinches the deal, it would pay a higher price than the $13.7 billion the retail giant paid to buy Whole Foods Co last year.
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LOS ANGELES—Chinese regulators have approved Walt Disney Co.’s $71.3 billion plan to acquire major assets of 21st Century Fox Inc. a Disney spokesman said, putting the deal on track to close sooner than initially expected. On an earnings call this month, Disney Chief Executive Robert Iger said the acquisition could close “meaningfully earlier” than the projected mid-2019 date. The Fox deal is a core component of Disney’s strategic shift toward direct-to-consumer streaming services to compete directly with Netflix Inc. and pipe its programming directly into the home.
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The Walt Disney Company is one of the largest media and entertainment conglomerates in the world. Learn more about the top companies driving its growth.
The approval inches the deal closer to completion and might have some investors asking themselves if now is the time to buy DIS stock?
The deal still requires regulatory approval in several global markets, but China’s OK is a big win for Disney.
The Walt Disney Co. confirmed Monday that regulators in China had given unconditional approval to its $71.3 billion acquisition of several of Fox's largest assets. Earlier this month, the European Commission also cleared the Disney-Fox deal, though that approval required Disney to divest its interest in its factual channels in the European Economic Area. Under the acquisition deal, Disney will be acquiring the Twentieth Century Fox TV and film studios, cable networks including FX and National Geographic Channel, Star India and majority control of streaming service Hulu. Shares of Disney have increased 7.8% in the year to date, while shares of Fox have gained 43%. The S&P 500 has gained 0.7% and the Dow Jones Industrial Average has gained 2.8%.
(Reuters) - Walt Disney Co (DIS.N) on Monday received unconditional approval from China for its deal to buy Twenty-First Century Fox's (FOXA.O) entertainment assets, clearing one of the last major hurdles ...
Walt Disney Co on Monday received unconditional approval from China for its deal to buy Twenty-First Century Fox's entertainment assets, clearing one of the last major hurdles for the deal to go through. ...
The ruling removes one of the last major hurdles for the deal, which unites the entertainment assets of Rupert Murdoch’s empire with Disney. The Burbank, California-based entertainment giant has already obtained approval from regulators in the U.S. and the European Union, though both required divestitures that the company has agreed to make. There had been some concern in the investment community that China’s approval of the deal might not come easily, given the ongoing disputes over trade and tariffs between the country and the Trump administration.