Disney-Fox Deal on Track for Thursday Announcement (Report)

Fox and Disney on ‘glide path’ for Thursday deal announcement: Sources from CNBC.

Disney and Fox are on a “glide path” for a deal to be announced on Thursday, CNBC’s David Faber reported this morning.

While anything could still change here, Faber has been all over this news — so you might as well circle December 14 on your calendar. Thursday happens to be the same day the new “Star Wars” opens in the United States. Busy one for Mickey Mouse & Friends.

On Monday, Comcast officially bowed out of the Fox takeover sweepstakes, publicly paving the way for the Walt Disney Company to finish this thing off. Disney did not immediately respond to TheWrap’s request for confirmation on the Thursday target. Fox declined comment when reached.

Also Read: Can Fox Broadcast Network Survive If Disney Buys TV Studio?

A week ago, Faber first reported the pricetag and timeframe for the $60 billion deal, which would give Disney the majority of 21st Century Fox’s assets — save for its broadcast channel, cable news station and national sports network. The assets Fox is keeping would be worth “at least $10 a share,” per Faber’s sources.

Disney would get Fox’s studio, its cable networks like FX and Nat Geo, the company’s regional sports networks, India’s Star, Fox’s Sky and Hulu holdings, as well as Endemol Shine Group, among other pieces. That makes for one big(ger) company, so long as the Department of Justice doesn’t try to stop this one, too.

Watch Faber and Jim Cramer discuss the latest news about the looming deal via the video above.

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Fox and Disney on 'glide path' for Thursday deal announcement: Sources from CNBC.

Disney and Fox are on a “glide path” for a deal to be announced on Thursday, CNBC’s David Faber reported this morning.

While anything could still change here, Faber has been all over this news — so you might as well circle December 14 on your calendar. Thursday happens to be the same day the new “Star Wars” opens in the United States. Busy one for Mickey Mouse & Friends.

On Monday, Comcast officially bowed out of the Fox takeover sweepstakes, publicly paving the way for the Walt Disney Company to finish this thing off. Disney did not immediately respond to TheWrap’s request for confirmation on the Thursday target. Fox declined comment when reached.

A week ago, Faber first reported the pricetag and timeframe for the $60 billion deal, which would give Disney the majority of 21st Century Fox’s assets — save for its broadcast channel, cable news station and national sports network. The assets Fox is keeping would be worth “at least $10 a share,” per Faber’s sources.

Disney would get Fox’s studio, its cable networks like FX and Nat Geo, the company’s regional sports networks, India’s Star, Fox’s Sky and Hulu holdings, as well as Endemol Shine Group, among other pieces. That makes for one big(ger) company, so long as the Department of Justice doesn’t try to stop this one, too.

Watch Faber and Jim Cramer discuss the latest news about the looming deal via the video above.

Related stories from TheWrap:

Disney Suspends Music Exec Jon Heely After Felony Child Sex Abuse Charges

Disney CEO Bob Iger Will Likely Extend Contract Past 2019 If Fox Buyout Closes

Why Fox Buyout Could Make Disney the 'Most Powerful Company' in Hollywood

Fox Chairman James Murdoch Tight-Lipped About Disney and Comcast Merger Talks

Fox boss James Murdoch declined an opportunity to speak about his company’s talks to combine some of its film and TV assets with either Disney or Comcast, a pair of possible mergers which picked up more attention on Tuesday following a CNBC report.

At Tuesday’s UBS Global Media and Communications Conference, Murdoch shot down a moderator’s question about the “elephant in the room.”

“It would be wrong to comment on market speculation. We always make a policy of not commenting on market speculation, what’s out there in the press or wherever,” he said.

 

Also Read: Disney, Fox Close to $60 Billion Merger Deal (Report)

“So, no, there’s nothing to add to that, other than the nothing that we’ve said so far,” he continued, before suggesting that the company was open to exploring all potential deals.

“I would said, look, when we’re running the business — the way we think about the business is really about value, and about long-term value,” he said. “The extent [to which] we change the business as we have over the last number of years — changing the shape of the business is always going to look at what is going to create the most value to all of our shareholders.”

Disney and 21st Century Fox are close to a $60 billion merger deal, according to CNBC’s David Faber. That dollar amount is an approximate enterprise value of the assets involved in the potential agreement.

Also Read: Uday Shankar Named President of 21st Century Fox, Asia

If this thing goes through, Disney would likely get Fox’s film studio, its cable entertainment networks like FX and Nat Geo, the company’s regional sports networks, India’s Star, Fox’s Sky and Hulu holdings, as well as Endemol Shine Group, among other pieces.

The Mouse House would not get Fox’s broadcast network, Fox Sports or Fox News.

Faber reported that the deal could be announced as early as next week.

The “Squawk on the Street” co-anchor said that Fox is still in talks with Comcast — the parent of his home CNBC — but the conversation with Disney has gone “far deeper and further.”

Disney and Fox did not immediately respond to TheWrap‘s request for comment on the latest news from their ongoing discussions.

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Fox boss James Murdoch declined an opportunity to speak about his company’s talks to combine some of its film and TV assets with either Disney or Comcast, a pair of possible mergers which picked up more attention on Tuesday following a CNBC report.

At Tuesday’s UBS Global Media and Communications Conference, Murdoch shot down a moderator’s question about the “elephant in the room.”

“It would be wrong to comment on market speculation. We always make a policy of not commenting on market speculation, what’s out there in the press or wherever,” he said.

 

“So, no, there’s nothing to add to that, other than the nothing that we’ve said so far,” he continued, before suggesting that the company was open to exploring all potential deals.

“I would said, look, when we’re running the business — the way we think about the business is really about value, and about long-term value,” he said. “The extent [to which] we change the business as we have over the last number of years — changing the shape of the business is always going to look at what is going to create the most value to all of our shareholders.”

Disney and 21st Century Fox are close to a $60 billion merger deal, according to CNBC’s David Faber. That dollar amount is an approximate enterprise value of the assets involved in the potential agreement.

If this thing goes through, Disney would likely get Fox’s film studio, its cable entertainment networks like FX and Nat Geo, the company’s regional sports networks, India’s Star, Fox’s Sky and Hulu holdings, as well as Endemol Shine Group, among other pieces.

The Mouse House would not get Fox’s broadcast network, Fox Sports or Fox News.

Faber reported that the deal could be announced as early as next week.

The “Squawk on the Street” co-anchor said that Fox is still in talks with Comcast — the parent of his home CNBC — but the conversation with Disney has gone “far deeper and further.”

Disney and Fox did not immediately respond to TheWrap‘s request for comment on the latest news from their ongoing discussions.

Related stories from TheWrap:

Disney Resumes Talks to Buy Bulk of Fox Film and Television Divisions

Bitcoin Hits (Another) High: Now Bigger Than Disney, Comcast, General Electric

Disney Casts Its Lead in Live-Action 'Mulan' Movie

Verizon Explores Charter Merger That Would Unite Giants (Report)

Verizon Communications Inc. is exploring a merger with Charter Communications Inc., according to the Wall Street Journal.

The Journal, citing “people familiar with the matter,” said a deal would “unite two giants in search of growth in a rapidly consolidating media and telecom landscape.”

The Journal reports that Verizon chief Lowell McAdam has made “preliminary” talks to “officials close to Charter” and had hired experts to study a possible merger. Charter is the second largest cable operator, behind only Comcast, and the 2016 takeover of Time Warner Cable gave the company a significant presence in major markets, now valued at over $80 billion, according to the Journal.

Also Read: Marissa Mayer to Step Down From Yahoo Board as Company Changes Name to Altaba

Verizon, which has a market capitalization of $203 billion, is already the largest wireless carrier and second-largest telecommunications company behind AT&T Inc. The potential deal would create a telecommunications and cable monster, pushing the combined company past Comcast Corp. as the No. 1 Internet provider in the U.S., according to Bloomberg.

Shares of Charter rose more than nine percent after the Journal report came out, while Verizon shares fell as much as 2.5 percent. However, CNBC’s David Faber said Thursday that the deal won’t happen immediately.

“Based on the reporting I’ve done on this, it’s got to be very, very early days,” Faber said.

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Verizon Communications Inc. is exploring a merger with Charter Communications Inc., according to the Wall Street Journal.

The Journal, citing “people familiar with the matter,” said a deal would “unite two giants in search of growth in a rapidly consolidating media and telecom landscape.”

The Journal reports that Verizon chief Lowell McAdam has made “preliminary” talks to “officials close to Charter” and had hired experts to study a possible merger. Charter is the second largest cable operator, behind only Comcast, and the 2016 takeover of Time Warner Cable gave the company a significant presence in major markets, now valued at over $80 billion, according to the Journal.

Verizon, which has a market capitalization of $203 billion, is already the largest wireless carrier and second-largest telecommunications company behind AT&T Inc. The potential deal would create a telecommunications and cable monster, pushing the combined company past Comcast Corp. as the No. 1 Internet provider in the U.S., according to Bloomberg.

Shares of Charter rose more than nine percent after the Journal report came out, while Verizon shares fell as much as 2.5 percent. However, CNBC’s David Faber said Thursday that the deal won’t happen immediately.

“Based on the reporting I’ve done on this, it’s got to be very, very early days,” Faber said.

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Verizon Explores Charter Merger That Would Unite Giants (Report)

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