It's official. Disney will buy Fox properties for $52 billion in stock. Rich Greenfield, Media & Tech Analyst at BTIG, joins Cheddar soon after the announcement to break down why he thinks this deal cements Disney in the past, rather than projecting it into the future.
Greenfield says if Disney bought Snap, Twitter, Activison, or Spotify it would have been more exciting than this Fox deal. Its mobile strategy is lacking, so although it will have tons of content, it still doesn't have that mobile presence and is taking on a lot of risk by buying Fox. Who are the biggest losers in this deal? Greenfield believes it's the consumer.
As far as how this deal impacts streaming networks: Greenfield thinks this will actually help Netflix in the short-term. Hulu, though, will still be a mess ownership-wise, as no one was able to give a clear answer as to who's in charge of the streaming network.
This deal is not a slam dunk and will have to jump through many regulatory hurdles before it's closed in the projected 12-18 months. Fox shareholders will hold a 25% stake in Disney, and the deal is expected to save $2 billion in costs. Disney CEO Bob Iger will stay at the company through 2021.
Mark Spoonauer, Global Editor-In-Chief at Tom's Guide, discusses the craze behind the latest Nintendo Switch 2 and why it already flying off shelves. Watch!
Bob Lang, Chief Options Strategist at Explosive Options, joins J.D. Durkin on the floor of the NYSE for a look at how traders are approaching the markets.
Seth Schachner, Managing Director at Strat Americas, talks Disney's taking control of Hulu, Warner Bros. and Discovery's split and how if affects the viewers.
The Tony Awards on Sunday lured 4.85 million viewers to CBS, its largest broadcast audience in six years. CBS says Monday that Nielsen data shows the telecast — hosted by “Wicked” star Cynthia Erivo — scored a 38% increase over last year’s 3.53 million viewers. That’s the largest audience for the Tonys since 2019, when the telecast that year nabbed 5.4 million viewers and “Hadestown” was crowned best new musical. The latest version also had to compete with the second game of the NBA Finals, between the Thunder and Pacers,
