December 14, 2017
Disney on Thursday announced a deal to acquire many parts of Twenty-First Century Fox for $52.4 billion in stock. The company will get Fox’s movie studios, network Nat Geo, Asian pay-TV operator Star TV, stakes in Sky and Hulu and regional sports networks.
The acquisition values the combined Fox business at $29.54 per share, based on Disney’s closing share price Wednesday. The businesses included give the deal a total value of approximately $66.1 billion, with Disney assuming $13.7 billion of Fox’s net debt.
Shares of Fox were more than 2 percent lower in premarket trading, while Disney traded 1 percent lower.
The acquisition bolsters Disney’s plans to become a dominant streaming service platform, making it a bigger threat to Netflix.
This article was posted: Thursday, December 14, 2017 at 9:05 am