Disney-Fox Deal on Track for Thursday Announcement (Report)
Fox and Disney on 'glide path' for Thursday deal announcement: Sources from CNBC.
Disney and Fox are on a “glide path” for a deal to be announced on Thursday, CNBC’s David Faber reported this morning.
While anything could still change here, Faber has been all over this news — so you might as well circle December 14 on your calendar. Thursday happens to be the same day the new “Star Wars” opens in the United States. Busy one for Mickey Mouse & Friends.
On Monday, Comcast officially bowed out of the Fox takeover sweepstakes, publicly paving the way for the Walt Disney Company to finish this thing off. Disney did not immediately respond to TheWrap’s request for confirmation on the Thursday target. Fox declined comment when reached.
Also Read: Can Fox Broadcast Network Survive If Disney Buys TV Studio?
A week ago, Faber first reported the pricetag and timeframe for the $60 billion deal, which would give Disney the majority of 21st Century Fox’s assets — save for its broadcast channel, cable news station and national sports network. The assets Fox is keeping would be worth “at least $10 a share,” per Faber’s sources.
Disney would get Fox’s studio, its cable networks like FX and Nat Geo, the company’s regional sports networks, India’s Star, Fox’s Sky and Hulu holdings, as well as Endemol Shine Group, among other pieces. That makes for one big(ger) company, so long as the Department of Justice doesn’t try to stop this one, too.
Watch Faber and Jim Cramer discuss the latest news about the looming deal via the video above.
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