Disney and Fox on Wednesday announced they'd reached a new merger deal, after the media giant raised its offer for the assets of 21st Century Fox by about 35 percent.
Disney will now pay $38 a share in cash or stock, compared to the original all-stock offer of $28. That values the assets at $71.3 billion.
In a statement Fox called the deal "superior" to the $65 billion all-cash bid made by Comcast last week.
But not everyone thinks Disney would benefit from an acquisition. Research firm Pivotal cut its rating on the stock from "hold" to "sell" earlier this week, saying the company finds itself in a lose-lose situation. If it raises its bid and wins the battle, that ultimately reduces the value it gets out of any deal. At the same time, if it loses its bid, it won't benefit from the synergies it was hoping to achieve.
The two suitors are vying for properties that include Fox's TV and film studios, with rights to franchises like *X-Men*, *Avatar*, and *Simpsons*; its stake in Hulu; stakes in international outlets like India's Star TV and the UK's Sky; and cable channels including FX and National Geographic.
Fox's board of directors are scheduled to consider Comcast's offer at a meeting on Wednesday. The company postponed those discussions to give shareholders a chance to examine the new deal.
The Q-Collar helps protect athletes from impact-related concussions. Now, the U.S. Army is evaluating if the device could help reduce traumatic brain injury cased by blast weapons.
Co-founder and executive chairman of the board at Vaxxinity Lou Reese shares how the company is working to bring vaccines for chronic illnesses like heart disease and Parkinson’s to market with an eye for accessibility.
Mario Veneroso, Kingsview Asset Management Partner, weighs in on the latest economic data and whether the market is pricing in too many rate cuts for the coming year.
Apple has rolled out an update to its operating system this week with a feature called Stolen Device Protection. It makes it a lot harder for phone thieves to access key functions and settings, and users are being urged to turn it on immediately.
The U.S. economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and frustrating price levels.
Alan Becker, CEO and Investment Adviser Representative at Retirement Solutions Group and RSG Investments, shares his thoughts on the latest GDP data plus why he's not sold cryptocurrency as a long-term asset.
