21st Century Fox

21st Century Fox wants to buy 10 TV stations from the Sinclair Broadcast Group, presumably the 10 that Sinclair has to sell to win regulatory approval of its acquisition of Tribune Media.

Walt Disney Co joined 21st Century Fox on Wednesday in asking the judge hearing AT&T Inc’s antitrust case to strengthen an order aimed at keeping its data private if it is used at trial next year.

As Disney and 21st Century Fox continue negotiations on the acquisition of a group of prized Fox divisions in a deal that could be announced soon, one of the assets left behind has largely been overlooked in reports on the mega-merger: the 28 Fox O&Os. The stations could be key to Rupert Murdoch’s growth plans for s trimmed-down 21st Century Fox, industry insiders say.

Walt Disney Co.’s planned acquisition of much of Rupert Murdoch’s 21st Century Fox media company — a deal that is expected to be completed as early as this week — could prompt a brain drain of high-level Fox executives in the coming months.

Walt Disney Co. may announce a deal as soon as this week to acquire a large piece of 21st Century Fox, according to a person familiar with the matter, transferring legendary Hollywood properties to new owners. A trust belonging to Executive Chairman Rupert Murdoch and his family would end up with a small stake in Disney in the transaction, the person said.

Walt Disney Co. CEO Robert Iger may stay at the company longer than expected if it buys major entertainment assets from 21st Century Fox. Iger had said he would retire from the Burbank entertainment giant when his deal there expires in 2019. The Disney board is expected to extend Iger’s contract so that he can oversee the integration of Fox properties with Disney, according to a person familiar with the matter who was not authorized to speak publicly.

Walt Disney Co. and 21st Century Fox are closing in on a deal and it could come as soon as next week, according to sources familiar with the matter. The enterprise value of the Fox assets in the deal is seen as more than $60 billion.

The Wall Street Journal reports that Walt Disney Co. has re-engaged in discussions with 21st Century Fox to purchase some of the media giant’s assets, and Comcast Corp. remains in the mix, with deal talks gaining momentum, according to people familiar with the situation. The talks center on the Twentieth Century Fox movie and TV studio and international assets. Fox News, the Fox broadcast network, the Fox O&Os and sports network FS1 aren’t expected to be sold. Journal subscribers can read the full story here.

Twenty-First Century Fox would never be interested in buying CNN, Fox Executive Chair Lachlan Murdoch said on Wednesday. “We wouldn’t be allowed to buy CNN and we would never be interested in buying CNN,” Lachlan Murdoch, Rupert’s oldest son, said at the Business Insider conference.

Industry veterans are struggling to wrap their heads around a notion that would have seemed laughable a year ago: Rupert Murdoch, a seller? The heightened level of activity around the possible sale of some big 21st Century Fox assets is forcing Hollywood to confront the harsh reality of what some are calling the “FAANG” effect: Facebook, Apple, Amazon, Netflix and Google have plowed into the content and distribution business and are reinventing it on their own terms.

21st Century Fox has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor Bill O’Reilly.

Fox’s media/entertainment businesses, which have been rumored to be for sale, could be worth $50 billion in a potential sale, according to one report. Fox is considering selling many of its non-sports, non-news TV businesses, which Michael Nathanson, senior media analyst for MoffettNathanson Research, estimates could essentially split the company in half — leaving $45 billion in sports and news assets.

If the media reports are to believed, Murdoch and his sons James and Lachlan, who are top executives at his companies, have decided that the original content business has gotten too expensive for them. With Netflix planning to spend $8 billion in 2018 on original programming, Amazon.com’s $4.5 billion spending plan, and Apple’s $1 billion budget, it’s easy to understand their misgivings, particularly given the underperformance of 20th Century Fox in both TV production and at the box office this year.

Comcast is interested in the same 21st Century Fox assets that, according to reports last week, Disney had previously looked at. Other companies may also want the Fox assets. A person close to the matter, who wouldn’t speak publicly, said Verizon is not in active discussions with Fox, but that Verizon might be interested in some parts of Fox’s business. (AP Photo | Gene J. Puskar)

21st Century Fox denied a government witness’s allegation that its sports division paid bribes to win television rights for international soccer tournaments.

A shareholder proposal calling for 21st Century Fox Inc to do away with its dual-class share structure was rejected on Wednesday, based on preliminary results announced at the media company’s annual meeting.

A shareholder proposal calling for 21st Century Fox Inc to do away with its dual-class share structure may inflict a symbolic black eye on the media company’s founder Rupert Murdoch and his family at its annual meeting on Wednesday.

Rupert Murdoch is one of the most driven moguls in media, defying the odds for more than a half-century to build a global media empire from a small newspaper in Australia. So many people were startled to learn the 86-year-old tycoon and his sons appear willing to sell some of their prized 21st Century Fox media assets.

Rupert Murdoch telephoned AT&T Chief Executive Randall Stephenson twice in the last six months and talked about cable network CNN, sources briefed on the matter told Reuters. According to one of the sources, the 86-year-old executive chairman of Twenty-First Century Fox offered to buy CNN in both conversations. Another source said Murdoch had “zero interest” in owning CNN.

The brothers who run 21st Century Fox, James and Lachlan Murdoch, seemed to play down the notion that they were seeking to sell parts of their conglomerate during a conference call with analysts on Wednesday. At the same time, said Michael Nathanson, a longtime media analyst, the Murdochs did not offer “an out-and-out no.”

The rise comes from higher retransmission consent revenue and higher Fox Broadcast Network sports advertising revenues being partially offset by lower cyclical political advertising revenues at the TV stations.

Investors are keen to hear from the Murdochs on Wednesday’s earnings call about their long-term strategy for their media and entertainment company.

Sky has threatened to close Sky News if it stands in the way of 21st Century Fox’s proposed $15 billion takeover of the pay-TV operator. Sky says regulators should not assume it will continue to provide a news service because the company would probably review the operation “in the event that the continued provision of Sky News in its current form unduly impeded” the merger.

Personalities, egos and dollar signs never can be discounted when sizing up major media business maneuvers, but one motivation above all others led 21st Century Fox and Disney to the negotiating table: the rapidly shifting media landscape.

21st Century Fox has been holding off-and-on talks to sell most of the company to Walt Disney Co., leaving behind the broadcasting and sports assets, according to people familiar with the situation. The talks have taken place over the last few weeks and there is no certainty they will lead to a deal.

James Murdcoch, CEO of 21st Century Fox, said the amount of the $32 million sexual harassment settlement paid by former Fox News host Bill O’Reilly was “news to me.”

Revelations that U.S.-based Fox News renewed O’Reilly’s contract after he settled a sexual harassment lawsuit for $32 million came just a month after Britain’s culture secretary asked competition regulators to review the takeover. Karen Bradley said one of the reasons for her decision was that Fox News’ handling of a broader sexual harassment scandal raised concerns about corporate governance at Rupert Murdoch’s 21st Century Fox.

Bill O’Reilly and Roger Ailes haven’t worked for 21st Century Fox in months. Indeed, Ailes, who built and led the company’s financial engine, Fox News, passed away earlier this year. But their shadows continue to hover over some of the corporation’s most critical business efforts.

As 21st Century Fox continues its pursuit of full control over European pay-TV group Sky, chairman James Murdoch won re-election today despite significant shareholder opposition.

The stock price of 21st Century Fox fell on Wednesday, a day after the U.S. soccer team was ousted from the 2018 FIFA World Cup event to be held next year in Russia.

“There is no basis” for the story in The Street that says that Fox and Ion are forming a joint venture to own and operate their combined stations, the Wells Fargo analysts says in a note to clients. “This is a complete overreaction based on no underlying research, data or factual information, in our view.”

21st Century Fox stands to gain from an elevated offer from TV station owner Ion Media Networks for a joint venture that would combine the companies’ TV stations. According to two people familiar with the talks, the potential deal would give Fox as much as 90% of the retransmission fees for its affiliated stations collected by the JV from pay-TV operators. That’s a marked increase from where talks stood during the summer, the industry sources said.

The annual compensation for all three of 21st Century Fox’s Murdochs — Rupert, Lachlan and James — fell in the most recent fiscal year, according to a company SEC filing. Rupert Murdoch’s compensation as executive co-chairman dipped from $34.6 million in FY 2016 to $29.3 million. His son Lachlan, also executive co-chairman, made $20.6 million, down from $23.7 million. CEO James dipped from $26.4 million to $20.3 million.

Avaaz, an activist group that has opposed 21st Century Fox’s bid for European pay TV giant Sky on Friday filed court papers seeking a judicial review of British media regulator Ofcom’s conclusion that the company would remain a “fit and proper” broadcast license holder if Fox, controlled by the Murdoch family, takes full control of it.

Which means Netflix and Amazon have to make more of their own shows. Fox, like other big studios/networks, has been making noise about reclaiming its old shows from other people — namely, Netflix — and it is starting to do that: If you want to watch old Fox shows, you increasingly have to watch them on Fox properties (or Hulu, partly owned by Fox).

In its first major international acquisition, the U.S. giant stunned the Fox mogul with a deal that gives the Leslie Moonves-led company a foothold in the fourth-largest English-speaking market.

21st Century Fox Executive Chairman Lachlan Murdoch says the three-month delay between a film’s release in theaters and in the home will change “sooner rather than later,” portending a dramatic, if long-awaited, shift in the movie industry’s traditional business model.