Jessica Reif, Managing Director of Bank of America Merrill Lynch joins Cheddar to discuss the changing media landscape in America, specifically the Disney / Fox 21st Century deal set to close soon.
According to Reif, this deal will reshape the entire media landscape. She talks about the Murdoch family and their willingness to sell. She says the deal will make other companies think about what they want to be, and how they will compete in the modern era.
Disney isn't interested in Fox's news or sports programming, and that may be because of regulatory issues. Reif says when it comes to sports, the best reach is still, by far, broadcast. She expects sports to stay on traditional TV for a long, long time.
Reif also talks about the amount of money the FANG stocks (Facebook, Amazon, Netflix and Google) are spending on video content, and how they will compete with the traditional outlets.
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
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