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).

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More