Disney’s auction of Fox’s chain of local sports TV networks has proven to be such a complicated process that the Mouse House has decided to offer up the networks piecemeal.
Disney’s Direct-To-Consumer & International unit has reached a deal with Google for advertising technology in a bid to increase revenue across its vast digital footprint.
Bidding has begun for the 22 regional sports TV networks Disney acquired from 21st Century Fox. Amazon is bidding for all of the networks, including the YES Network, sources familiar with the matter said. In addition to Amazon, Apollo Global Management, KKR & Co, The Blackstone Group, Sinclair Broadcast Group and Tegna also made first round bids for the full slate of networks, the sources said.
Analysts had worried that China might use Disney’s $71.3 billion deal to buy most of 21st Century Fox as a weapon in a trade war with the United States.
When Disney finally closes its deal to acquire 21st Century Fox’s film and TV assets early next year, the company will gain — among many things — ownership of Hulu, which has never before had just one company hold a controlling stake. But with Disney also readying the launch of its own Disney-branded streaming service next year, it will now have ownership of two competing streaming services, which begs the question: How will Disney be able to launch Disney+ while allowing Hulu to continue to grow?
Veteran media and tech executive Michael J. Wolf predicts that established media brands — including The Walt Disney Co. and WarnerMedia — will be among the handful of winners in the emerging direct-to-consumer world.
Disney has finally given a name to its upcoming streaming service. It’s Disney+, but there’s still no word on the launch date or price for the OTT platform.
The Walt Disney Co. beat Wall Street’s earnings and revenue forecasts for its fourth quarter. Net income for the quarter ended Sept. 29 rose 33% to $2.32 billion, or $1.55 per share, from $1.75 billion, or $1.14 per share last year. Excluding one-time items, net income totaled $1.48 per share.