As we discussed last week, the big Disney (DIS) / Twenty First Century Fox deal is set to close this Thursday. In the meantime, 21st Century Fox shareholders have made their choices about how they want to receive their ‘consideration’ from Disney and apparently too many wanted the cold, hard cash: Holders of 959,919,192 shares of 21CF common… Read More »
We’ve been here before. The dismantling of Rupert Murdoch’s media empire began in earnest in June 2013 when News Corp completed the spin off of its publishing business as the new News Corp(NWS) and changed its own name to 21st Century Fox(FOX). That deal separated Murdoch’s declining but beloved newspaper business from the growing film and television business… Read More »
One of the big M&A stories of the summer was Rupert Murdoch-led 21st Century Fox’s (FOXA) unsolicited ~$80b bid for Time Warner (TWX). The deal would have created a media behemoth, but after facing resistance from Time Warner and shareholders, Fox yielded (for now) and announced a big buyback instead. A couple important items emerged from all of the… Read More »
A few more milestones have been crossed on News Corp’s (NWSA) path to spinning off its publishing business. This past week, the company received shareholder approval in order to change its certificate of incorporation. The move was necessary in order to facilitate the spinoff of its publishing business, commonly referred to as the new News Corp. A few weeks prior to… Read More »