Disney reportedly held talks to acquire most of 21st Century Fox, and while a deal currently being discussed, Sean Aune, director of operations at Techno Buffalo, joined Cheddar to expound on what a potential tie-up could mean.
For starters, Aune says this is an interesting move for Fox, given that the company “was born out of being a movie studio.” The potential deal would have seen those properties move over to Disney, leaving Fox with its sports and news properties. While a sale would be a risky move, Aune says the remaining assets are still Fox’s forte.
“If anyone can make it work, Fox can,” he said.
As for Disney, there’s a lot of content to play with, and says that could make the company more “content-hungry.” In addition, an acquisition would boost Disney’s competitive edge in negotiating prices for its content, due to new creators in its resource pool.
“There’s a lot of things that Disney is going to gain out of this,” he said, including the rights to "X-Men” and the “Fantastic Four”. Aune points out that would largely close the company's attempted acquisition of Marvel several years ago.
He suggested that all of the new content would smooth out challenges for Disney, which is launching its own streaming service.
On the streaming front, many investors fear what a potential acquisition would mean for Netflix. Aune, however, is not worried.
He says that by the time the Disney product launches, Netflix will be a largely “original content”-only platform, something that works in favor of the streaming giant.
“Most of what I watch on Netflix is their original content,” Aune said. “I don’t think there’s much to worry about here.”
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
