Disney Wins Approval to Buy 21st Century Fox Assets
Disney won approval for its $71.3 billion bid to buy 21st Century Fox assets on the condition that it sells off Fox's local sports networks, the Justice Department said on Wednesday.
The news came after reports that Comcast is reportedly considering strategic partnerships with other companies or private equity firms in order to outbid Disney, according to the Wall Street Journal. While no immediate plans are in the works, the Journal said Comcast could turn to these options, if bidding for Fox got into the $90 billion range.
Fox announced last week it agreed to Disney's offer, which the company was forced to raise from its original $52.4 billion bid made last December. The increase came after Comcast put in a competing all-cash $65 billion offer in the wake of a judge's approval of AT&T's acquisition of Time Warner earlier this month.
Both media giants are looking for new revenue streams amid increasing competition from streaming companies like Netflix and Hulu.
One potential strategy for Comcast, according to the Journal, would be for a partner to take Fox's U.S. properties ー ie, its movie and TV studios and regional sports networks ー while Comcast gets the international assets, including Britain's Sky and Star India.
It's unclear when and if Comcast will make a move, though, as Disney and Fox postponed a shareholder vote on their deal originally scheduled for July 10. Potential partners were also not disclosed.
The DoJ is only one of the many regulators Disney needs to appease to get final approval for its deal.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
