|Bid||36.570 x 1500|
|Ask||36.580 x 500|
|Day's range||36.340 - 36.680|
|52-week range||24.810 - 36.960|
|PE ratio (TTM)||22.78|
|Earnings date||7 Feb 2018|
|Forward dividend & yield||0.36 (0.98%)|
|1y target est||38.40|
Jan.08 -- Martin Gilbert, chief executive at Aberdeen Standard Investments, discusses the Disney-Fox deal on “Bloomberg Markets: European Close.”
Walt Disney (DIS) and Twenty-First Century Fox (FOX)(FOXA) exude confidence that their $52.4 billion asset transaction deal will sail through regulatory reviews without much delay or need for significant concessions. Meanwhile, AT&T (T) and Time Warner (TWX), which are seeking to combine in a deal valued at $85.4 billion, have taken longer than originally expected to complete their deal. It’s not that Disney and Fox don’t expect significant regulatory scrutiny of their deal, but they hope that regulatory reviews would conclude quickly so that they can close the deal in the next 12 to 18 months.
Walt Disney (DIS) reached a deal in December to purchase most of Twenty-First Century Fox (FOX)(FOXA), the media and entertainment conglomerate controlled by billionaire Rupert Murdoch. The announcement of the deal ended months of speculations that Disney was looking to acquire strategic assets to try to bolster its competition as technology companies such as Netflix (NFLX), Amazon (AMZN), and Alphabet’s (GOOGL) Google disrupt traditional media and entertainment companies. In the deal with Disney, Fox chose to offload its entertainment unit and media operations that it apparently views as not very important in the future it’s seeking.
There has been plenty of optimism about media stocks and tax cuts, but that's only gone so far for Viacom (VIAB), which is falling on Tuesday on news that a merger with CBS (CBS) is far from a done deal, even if insiders are hoping to reunite the two media companies. Rosenblatt's Alan Gould reiterated a Sell rating on Viacom today, writing that even combined, the two companies aren't big enough to create real value for shareholders in the shifting media landscape, and there aren't many synergies to recommend the deal. Elsewhere in media today, B. Riley's Barton Crockett updated his estimates for companies to account for their benefit from lower taxes, and he also upgraded 21st Century Fox (FOXA) to Buy, with a $46 price target, writing that if the Walt Disney (DIS) deal gets done, which he sees as increasingly likely, Fox will have even more benefit than the average media stock. Crockett argues that the upgrade reflects Disney's big benefit from the tax reform, the fact that Fox is still trading at a discount to the takeout offer, and that regulators can probably be appeased by selling assets, which Comcast (CMCSA) might be happy to buy.
FOX News Channel will launch “Scandalous,” a historical documentary style series which will chronicle the sequence of events that enveloped Washington and ultimately led to the impeachment of President Bill Clinton during the 1990’s.
High prices for cable TV led to millions of Americans—young and old alike—to cut the cord on their cable services last year. Viewers now have an increasing choice of streaming services over the Internet, including Netflix (NFLX), Amazon.com’s (AMZN) Prime Videos, and others offering quality content at a lower subscription price than what cable providers charge. According to estimates by research firm eMarketer, 22.2 million American adults cut the cord on cable or satellite TV services last year.
Investors in Twenty-First Century Fox (FOXA) need to pay close attention to the stock based on moves in the options market lately.
Rupert Murdoch’s 21st Century Fox is nearing a deal to buy about 10 TV stations that Sinclair Broadcast Group is shedding as it seeks regulatory approval for its purchase of Tribune Media.
FOX Business Network will kick off the fourth season of hit primetime reality series Strange Inheritance on Monday, January 15th at 9PM/ET. Hosted by Jamie Colby, the series will debut with a special two-day premiere featuring back-to-back episodes on both Monday and Tuesday, January 16th.
The Zacks Analyst Blog Highlights: Walt Disney, Twenty-First Century Fox, Time Warner and Viacom
Disney's (DIS) Studio segment, which impressed investors with blockbuster hits in 2016, has somewhat disappointed in 2017 as the year has been dull for the movie industry.