Disney struck a deal on Thursday to help build up its arsenal of content as it prepares to launch its own video streaming service.
The media giant agreed to pay more than $52 billion for most of 21st Century Fox, adding the company's film and TV studios, international properties and channels such as FX.
But BTIG analyst Rich Greenfield says doesn't understand why the company wants to increase its exposure to the "troubled legacy media business."
"This feels like Disney is cementing itself in the past, rather than aggressively moving into the future," he told Cheddar in an interview shortly after the deal was announced. "There were a lot of transactions they could've done that would've been a lot more exciting than this."
The alternatives? Greenfield says Snap, Twitter, Activision-Blizzard, or Spotify would all have been better options.
But the deal does give Disney ownership of high-profile franchises such as "X-Men" and "The Simpsons," titles that could make the library for its own planned streaming service more attractive.
The company said in August that it will pull content off Netflix in 2019. Instead, films from "Iron Man" to "Star Wars" to "Toy Story" will only be available on its own platform.
To watch the full interview, [click here](https://cheddar.com/videos/btig-analyst-rich-greenfield-on-disney-fox-deal).
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
Tesla drivers in the U.S. were in more accidents than drivers of any other car brand this year, according to a study.
The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs.
Monsanto was ordered to pay $857 million to students and parent volunteers at a Washington school.
A federal judge has struck down hundreds of lawsuits filed against the makers of Tylenol and generic acetaminophen.
California regulators are preparing to vote on new rules for turning recycled wastewater into drinking water.
Hackers accessed Xfinity customers’ personal information by exploiting a vulnerability in software used by the company, the Comcast-owned telecommunications business announced this week.
Some folks want to leave the cold for a quick getaway. Bobby Laurie, travel expert, joined Cheddar News to provide tips on how and when to look for a winter escape.
Julia Pollak, chief economist with ZipRecruiter, joined Cheddar News to provide tips on navigating a job loss and explain the benefits of working with a recruiter to find new employment.
