Wedge
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Disney acquisition of Fox assets will be complete on March 20
That's a week from tomorrow...
https://variety.com/2019/biz/news/disney...203161135/
Quote:Disney has set March 20 as the closing date for its acquisition of 21st Century Fox.
Disney announced the formal closing process Tuesday morning, indicating that the company has received the last major approval for the deal from regulators in Mexico. Disney said current 21st Century Fox shareholders will have until 5 p.m. ET Thursday to choose the amount of cash and Disney stock to receive in the $71.3 billion transaction.
Disney said it expects the historic union of two of Hollywood’s pioneering studios to “become effective at 12:02 a.m. Eastern time on March 20.” The completion of the Disney-21st Century Fox deal also signals the emergence on March 19 of Fox Corporation, the new entity to emerge from the 21st Century Fox assets that Disney is not buying. Disney is also assuming about $13.8 billion in net debt from 21st Century Fox.
As for the RSNs: Disney has a deal to sell the Yankees' YES Network, and it looks like the other RSNs will either be sold as a package for about $10 billion or be sold in pieces, which would mean the most valuable ones (like the LA RSNs that the Angels' owner wants) will get a decent price while Disney would only get lowball prices for the RSNs that are in smaller markets and/or only have the rights to broadcast less valuable teams.
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03-12-2019 01:05 PM |
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