Saturday, 20 October, 2018

Disney's plan to buy Fox faces challenge from Comcast

Comcast Comcast confirmed that it is in advanced stages of preparing an offer for the businesses that Fox has agreed to sell to Disney
Kelvin Reese | 25 May, 2018, 21:42

Comcast Corp (CMCSA.O) confirmed on Wednesday it was preparing a higher, all-cash offer for most of the media assets of Twenty-First Century Fox (FOXA.O), setting up a bidding war with rival Walt Disney Co (DIS.N), which already has agreed to a $52-billion deal with Fox. Comcast reportedly wants to up the bid to $60 billion, all in cash.

Comcast, the world's largest broadcasting company, said yesterday that it was in the "advanced stages" of putting together a bid for the same package of assets as those sought by Disney.

It's also the latest in a dizzying period of merger moves in tech and media: In addition to Disney's deal for Fox, Comcast is trying to undermine Fox (yes, the same Fox) to win 61 percent of United Kingdom television company Sky TV, and AT&T is trying to buy TV programmer Time Warner despite government opposition. Whilst much of the attention was on Disney getting access to Marvel characters it now doesn't have the screen rights too, for The Mouse, the bigger fish is Fox's share of Hulu, and Sky Television.

To be clear, though, Comcast's proposal would not include Fox's other branches, such as their news and business networks. Fox executive co-chairman Lachlan Murdoch said on the company's recent earnings call when asked about a potential Comcast bid: "We are committed to our agreement with Disney and are working through the conditions to bring it to a closing".

Ariana Grande remembers Manchester bomb attack victims on first anniversary
Following the attack, Grande put on a benefit concert in Manchester for the families of those affected. The ceremony included a national silence at 2.30pm to allow the country to remember those who died.

USA issues alert after employee in China reports 'abnormal' sound sensations
CNN has reached out to China's Ministry of Foreign Affairs but has not yet received a response on this matter. An investigation to establish the cause and impact has been launched by the US State Department.

Palestine Solidarity Day Being Observed in Pakistan Today
To express solidarity with the Palestinian community special rallies, gatherings and programs are to be organized to condemn Israel's terrorist acts in Gaza.

Comcast said that "no final decision has been made" as to whether to proceed with the takeover bid, but that "the work to finance the all-cash offer and make the key regulatory filings is well advanced". Comcast shares were down 1.6 percent at $31.97 and Disney shares fell 1.7 percent to $102.26.

Disney shares have fallen more than 3 percent since that deal, reducing the value of the offer to just over $50 billion.

Audrey Chong, chief investment officer, Magna Malaysia said in the race for content acquisition, Fox will be a strong add-on to the breadth of content offered by both parties. Disney also owns the rights to the Star Wars movie franchise after buying Lucasfilm in October 2012. Comcast said at the time that it "never got the level of engagement needed to make a definitive offer". While the company has sound fundamentals, many financial analysts have questioned its strategy of going all-in for Fox given the amount of debt it would have to take on.

The US government is now suing to block a merger between Time Warner, and the telecoms giant AT&T. And this wouldn't be the first time that Comcast and Disney have faced off. Comcast made an initial bid in December but bowed out due to antitrust concerns. He also accepted the rationale that Comcast or Disney had to grow bigger to compete globally and with streamers.

Recommended

  • PM Abbasi, CM Shahbaz meet Nawaz Sharif

    PM Abbasi, CM Shahbaz meet Nawaz Sharif

    Holding informal talk with media representatives at Accountability Court in Islamabad , Nawaz Sharif said PTI neither had any role nor any ideology.
    Everton to sack Sam Allardyce this week!

    Everton to sack Sam Allardyce this week!

    Everton will be hoping that it's third time lucky as they attempt to lure long-standing target Marco Silva over to Goodison Park this summer.
    The Bonfire of the Vanities author Tom Wolfe dies aged 87

    The Bonfire of the Vanities author Tom Wolfe dies aged 87

    Wolfe edited a volume of work by himself and other prominent writers of the era, including Truman Capote , Joan Didion, Hunter S. Wolfe was well known for being a stylish dresser, often photographed in his trademark white suit.
  • China to reduce import tariffs to boost trade

    China to reduce import tariffs to boost trade

    Chinese officials had viewed the US punishment as an attack exposing their country's dependence on imports of key technologies. Import tariffs for auto parts would be cut to 6 percent from mostly around 10 percent, the ministry said in a statement .
    Korea talks will take place

    Korea talks will take place

    Russian Federation announced Wednesday that Foreign Minister Sergei Lavrov will travel to North Korea for a visit on May 31. He said that "large teams" were on standby to supervise North Korean disarmament if an agreement is reached in Singapore.
    Law won't let him strip Stoneman Douglas deputy's pension, Gov. Scott says

    Law won't let him strip Stoneman Douglas deputy's pension, Gov. Scott says

    In addition, Peterson has been named in a wrongful death suit by Andrew Pollack , whose daughter Meadow died in the shooting. President Donald Trump said Peterson either froze under pressure or was a "coward", who "didn't have the courage" to go in.
  • Battlefield 5: DICE looking at how Battlefield can do battle royale

    Battlefield 5: DICE looking at how Battlefield can do battle royale

    This is an interesting spot for the game to launch, as that means it'll be coming out right next to Call of Duty: Black Ops 4. But hey, the lack of actual gameplay shown didn't prevent EA from making Battlefield 5 available for pre-order already .
    Salah is not on same level as Messi, Ronaldo, says Kwadwo Asamoah

    Salah is not on same level as Messi, Ronaldo, says Kwadwo Asamoah

    Not only that, it is Cristiano Ronaldo in a Champions League final, which is a stern test for a 19-year-old defender. The Argentina worldwide is widely considered as one of the best players of all time.
    Pa. teacher's killing was a 'crime of passion,' investigators say

    Pa. teacher's killing was a 'crime of passion,' investigators say

    Her employer, the Pennsylvania Cyber Charter School, and the Lincoln Park Performing Arts Charter School then suspended her. When asked, DelTonto said that she was "just talking" to her former student, who was "upset and needed someone to talk to".
  • Memorial Day services remember the fallen

    Memorial Day services remember the fallen

    Operation Flags for Vets: Volunteers sought to place flags on approximately 77,000 gravesites at Massachusetts National Cemetery. There will be a closing ceremony after the parade at The Park, located at the intersection of Bartlet and Chestnut streets.
    Jared Kushner's security clearance has been restored

    Jared Kushner's security clearance has been restored

    At long last - after about a year and a half of delays - Jared Kushner has received full White House security clearance. Kushner's application had been beset by multiple revisions and previously undisclosed contacts with foreign individuals.
    Michael Avenatti Insists He Doesn't Want His Own TV Show (AGAIN)

    Michael Avenatti Insists He Doesn't Want His Own TV Show (AGAIN)

    Trump's hotel in the United States capital, which opened in late 2016, took in $40.4 million during 2017 while the Florida resort had revenues of $25.1 million a year ago .

Census: Ankeny is 4th-fastest growing large city in US Census: Ankeny is 4th-fastest growing large city in US New Braunfels - located between San Antonio and Austin - ranked as the country's second-fastest-growing city. McKinney was No. 9 with a 4.8 percent increase, and Flower Mound was No. 11 with a 4.3 percent increase.

Trump can't block users from his Twitter feed, federal judge rules Trump can't block users from his Twitter feed, federal judge rules If Twitter is a public forum where users have First Amendment rights, that could make Twitter bans unconstitutional as well. Trump blocked after they posted antagonistic or obnoxious replies to his @ realDonaldTrump account .

Teachers return to site of deadly Texas school shooting Teachers return to site of deadly Texas school shooting She noted the church shooter in tiny Sutherland Springs slipped through an existing law. "There has got to be due process". Five days after a gunman slaughtered 10 people at a Texas high school, teachers are returning to work on Wednesday.

NFL Owners Terrified Of Trump NFL Owners Terrified Of Trump NFL Commissioner Roger Goodell said afterward that the objective is to "have people to be respectful of the national anthem ". Under the new league policy, teams can be fined an unspecified sum if players protest on the field .

Time lapse from Hawaii observatory shows eruptions at Kilauea Time lapse from Hawaii observatory shows eruptions at Kilauea David Ige said Tuesday that authorities are monitoring the flow of lava and the threat to the plant. Kilauea's eruption on the Big Island began on May 3 at a distance of 24 kilometers from the plant.

Hamas Scaled Back Gaza Protests Due to Egyptian Pressure Hamas Scaled Back Gaza Protests Due to Egyptian Pressure In addition to the death toll of 61, more than 2,500 Palestinians suffered physically after instigating the violent clash. The IDF attacked a Hamas post near the Gaza border on Wednesday, in response to Hamas operatives firing on IDF forces.

Oil hits new multi-year high above $80/bbl on Iran concerns Oil hits new multi-year high above $80/bbl on Iran concerns Further supporting prices, Royal Dutch Shell on Thursday said it was halting crude exports from a major Nigerian pipeline. West Texas Intermediate crude futures were at $71.63 a barrel, up 14 cents and set for a third straight week of increase.

Nadal ruthless in Rome, reaches last eight Nadal ruthless in Rome, reaches last eight A year ago in Rome, Halep rolled her ankle in the final and lost a lead and the championship to Elina Svitolina. Nadal leads Fognini 10-3 winning their last five, but Italian does have two clay wins over Rafa back in 2015.

Congo-Kinshasa: Ebola Outbreak Spreads Congo-Kinshasa: Ebola Outbreak Spreads Moreover, WHO has deployed 4,000 experimental Ebola vaccines in DRC and more of the vaccines should reach DRC in the coming days. A total of 45 cases of hemorrhagic fever have now been reported, including 25 deaths, the health ministry said Thursday.

Ocado entering U.S. market through technology deal with Kroger Ocado entering U.S.  market through technology deal with Kroger Kroger had previously been experimenting with building in-house delivery and had also partnered with Target Corp-owned Shipt. The two companies are now working to identify the first three sites to develop new automated warehouse facilities in the US.

Vladimir Putin calls for 'political process' on Syria Vladimir Putin calls for 'political process' on Syria Putin is scheduled to meet with German Chancellor Angela Merkel on Friday and French President Emmanuel Macron next week.

Confirmed Matches For Tonight's Episode Of WWE Raw Confirmed Matches For Tonight's Episode Of WWE Raw Jax had approached Rousey as she was giving an interview at the NBCUniversal Upfront event in New York City. The Riott Squad by Liv Morgan submitting to Natalya's Sharpshooter.

Sherpa guides scaled Everest setting new records Sherpa guides scaled Everest setting new records Iswari Paudel of Himalayan Guides Nepal, the company assigned to fix the ropes, confirmed that the team has scaled the mountain. He said he wants to do this not to break records or set new ones but because of his passion and zeal to climb the Everest.

Infinity War Post-Credit Scene SPOILER Online Infinity War Post-Credit Scene SPOILER Online Overseas, the film has grossed $1.1 billion, becoming only the seventh film ever to gross over $1 billion outside North America. If the film, achieves this benchmark, it'll be the highest opening weekend grossing Adult film ever.

Nokia X6 launches in China with display notch Nokia X6 launches in China with display notch With widescreen 18:9 and 20:9 displays becoming popular on phones, the Nokia X6 adopts a 19:9 display with a 1080×2280 resolution. Availability outside China is still unknown, but we can expect it to reach other markets where there's Nokia's market presence.