FLASH :Disney, Fox Deal Made $52.4-B
Walt Disney Co. agreed to a $52.4-B deal to acquire much of the global empire that media baron Rupert Murdoch assembled over three decades, from a fabled Hollywood studio to Europe’s largest satellite-TV provider to one of India’s most-watched channels.
Holders of Murdoch’s 21st Century Fox Inc. (NASDAQ:FOXA) will get 0.2745 Disney (NYSE:DIS) share for each Fox share, for assets including the movie and TV production house, a 39% stake in Sky Plc, Star India, and a lineup of pay-TV channels that include FX and National Geographic, the companies said in statements Thursday.
The price amounts to about 29.54/share, based on Disney’s closing price Wednesday
The deal announced Thursday, will end more than 50 years of expansion by Rupert Murdoch, 86 anni, who turned 1 Australian newspaper he inherited from his father at age 21 into one of the world’s most important global news and film conglomerates.
The $75-B+ pact will see Disney acquire Key entertainment and sports assets from 21st Century Fox, including its film and TV studio.
Fox shareholders would hold 25% of the New Disney.
But there is not expected to be an announcement regarding the management of the new company, the sources said.
The FT also said Disney-Fox talks about the price were continuing.
A spokesman for Fox declined comment.
A Disney spokeswoman did not immediately respond to a request for comment.
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