33.46 +0.07 (0.21%)
After hours: 6:54PM EDT
|Bid||33.39 x 2200|
|Ask||33.96 x 800|
|Day's Range||32.34 - 33.72|
|52 Week Range||30.43 - 44.00|
|PE Ratio (TTM)||6.82|
|Earnings Date||Jul 26, 2018|
|Forward Dividend & Yield||0.76 (2.24%)|
|1y Target Est||43.60|
Call it Clash of the Titans - Bob Iger vs Brian Roberts is on, as Disney ups its bid for Fox assets to $71.3 million in cash and stock, which Fox has accepted. Knockout punch? Well not exactly, now Comcast is reportedly planning its next move, examining Disney's offer over the next few days - this according to Fox Business.
Disney increases its offer for 21st Century Fox's assets to $71.3B. Yahooo Finance's Seana Smith, Dan Roberts, Myles Udland and Rick Newman discuss.
Walt Disney Co. raised its offer to purchase most of 21st Century Fox to more than $71.3 billion in cash and stock, topping an unsolicited offer from rival Comcast Corp. and escalating the bidding war for the coveted media properties. Disney’s new offer is far higher than its original deal, $52.4 billion in stock, and surpasses Comcast’s all-cash offer of roughly $65 billion. In addition to having the higher offer, Disney said it also has the regulatory advantage over Comcast in winning a company to help it fight back against new-media competitors like Netflix Inc.
Walt Disney Co.’s blockbuster track record, along with some unique quirks of comic book history, explain why it can top Comcast’s bid for 21st Century Fox’s entertainment assets. Disney has released the top-grossing film world-wide in six of the last seven years, according to Box Office Mojo. Analysts at MoffettNathanson estimate that Disney accounted for over half the profitability of the top five movie studios last year.
If Walt Disney is hoping that its newly juiced bid for Fox assets will crush Comcast into submission, it is likely to be disappointed. The new offer, more than $70 billion in cash and stock, represents a 9% premium over Comcast’s offer of $65 billion and a 36% premium to Disney’s original offer of $52.4 billion. There are no other media assets as desirable as those at 21st Century Fox.
Growth. We want growth. We want growth if there are tariffs. Growth if there are no tariffs. Growth if China is all powerful. Growth if China is a paper tiger. Growth if the Fed is tightening. Growth if it is not tightening.
The "Mad Money" host also sits down with the CEOs of Williams-Sonoma and Aimmune Therapeutics. In the lightning round, Cramer can't condone selling a big-name pharmaceutical play. Digitization affects countless industries from retail to health care, but on Wednesday, CNBC's Jim Cramer flagged another under-the-radar group being affected: tax preparation companies.
The new cash-or-stock deal may be attractive to Fox's largest shareholder, Rupert Murdoch, who owns 17 percent voting shares along with his family. Disney's previous offer was all stock. Disney and Comcast want to bulk up their own entertainment businesses with Fox's well-known TV shows and movie franchises, like the "X-Men" superheroes and "The Simpsons," to better compete with fast-growing digital rivals Netflix Inc (NFLX.O) and Amazon.com Inc (AMZN.O).
CNBC's Jim Cramer says the spoils would go to the loser and the winner of Disney and Comcast's battle over key Twenty-First Century Fox assets. It's no secret that Wall Street is hungry for growth, which is why CNBC's Jim Cramer wasn't all that surprised when the Walt Disney Company DIS upped its bid for a key portion of Twenty-First Century Fox FOXA on Wednesday. Fox reportedly called Disney's latest cash-and-stock bid of $71.3 billion, or $38 a share, "superior" to NBCUniversal parent Comcast's CMCSA latest bid, an all-cash offer valued at $65 billion, or $35 a share.
Timothy Lesko of Granite Investment Advisors says the battle for Fox assets is about getting more content and also distribution channels to the consumer.
Axel Merk of Merk Investments says the increase in M&A activity in the U.S. is "a typical sign" of the economic cycle being at an "advanced" stage.