Walt Disney Co. has discussed reorganizing its news operations under the leadership of Ben Sherwood, its most senior television executive and the former head of its news division, according to people familiar with the matter. Sherwood, who currently runs ABC, Freeform and Disney Channel, would become the head of worldwide news and nonfiction content at the company under one scenario that’s been discussed, said the people, who asked not to be identified because the talks are private.
Walt Disney Co.’s Bob Iger may not have planned it, but his $71.3 billion deal for 21st Century Fox Inc.’s entertainment assets could be about to reshape sports and regional broadcasting in the U.S.
CEO Bob Iger says that Disney won’t have any trouble finding a buyer for the Fox sports channels. “The RSNs will be sold, and the process of selling them is actually already beginning. Conversations are starting, interest is being expressed. And it’s likely that we’ll negotiate a deal to sell them but the deal will not be fully executed or close until after the overall deal for 21st Century Fox closes.”
Disney: New Streamer Won’t Rival Netflix
With Comcast out of the bidding war, Disney is planning to move forward with its $71.3 billion purchase of Fox’s entertainment assets, in part to boost a Disney-branded streaming service set to launch in late 2019. Disney is building the streaming service as more people switch from traditional cable TV bundles to streaming online though services like Amazon and Netflix.
Disney Shares Slide After Earnings Miss
The Walt Disney Co. missed Wall Street estimates in its third quarter, reporting earnings per share of $1.87 and total revenue of $15.23 billion. Disney stock declined more than 2% in after-hours trading, erasing gains during the regular session. Shares earlier in the day hit a three-year high of $117.88 before retreating to close at $116.60, up a fraction.
LOS ANGELES (AP) — Mickey Mouse is getting the full star treatment as the iconic character turns 90 this year. ABC on Tuesday announced “Mickey’s 90th Spectacular,” a two-hour prime-time […]
Exclusives
The withdrawal by Comcast leaves the path open for The Walt Disney Co. to buy the 21st Century Fox assets with its latest offer of $71 billion. The Department of Justice has OK’d Disney’s bid as long as it sells 22 regional sports networks. Fox shareholders are set to vote on Disney’s offer July 27.
The sale of 21st Century Fox’s studio assets to Disney has triggered the first lawsuit from a shareholder, who complains about what was filed with the Securities and Exchange Commission. The putative class action seeks to enjoin the transaction.
The Walt Disney Co.said Monday it will sell its Upper West Side Campus in New York City for a reported $1.2 billion while purchasing rights to property owned by Trinity Church Wall Street, where the media conglomerate will build a home for WABC-TV as well as offices for ABC News, The View and Live With Kelly and Ryan.
Cash may be king but Walt Disney Co.’s stock-based offer for 21st Century Fox’s entertainment assets could give it a $3.5 billion edge over Comcast Corp.’s rival bid.
Rupert Murdoch’s decision to sell much of his company could be viewed as a surrender, or it might turn out to be his most deft move yet, the one where he saves his company, and fortifies his family fortune.
Americans aren’t watching less video entertainment each year. They’re actually watching much, much more—on their smartphones, laptops, and internet-connected TVs—thanks to the rise of streaming, where Netflix, not Disney, reigns supreme. However, Disney is building a streaming product to deliver its content, old and newly acquired, directly to consumers—let’s call it Disneyflix. When it launches, in 2019, it will include several exclusive series and every film in the Star Wars, Marvel Entertainment, Pixar Animation Studios and Disney Animation universes.
Oprah Winfrey: “I really, really pushed him to run for president, so much so that I said to him, ‘Gee, if you ever decide to run for office, I will go door to door carrying leaflets. I will go sit and have tea with people.’ ”
Britain’s takeover regulator said Walt Disney Co. must offer to buy all of Sky if it acquires 21st Century Fox’s 39% stake and if Rupert Murdoch’s Fox is prevented from purchasing all of the European pay-TV company itself.
Rupert Murdoch’s 21st Century Fox is making a new pitch to win approval for its planned takeover of British broadcaster Sky. The first proposal would see 21st Century Fox selling Sky’s news business to Disney Under the second proposal, Sky News would be legally separated from the rest of Sky in a bid to ensure its editorial independence.
As Major League Baseball begins a new season, a former executive is calling foul on the organization’s interactive media and internet company. John Dinn Mann claims in a lawsuit that over 17 years he helped build MLB Advanced Media from a “fledgling startup” into a “media juggernaut,” but was shut out of promised profits when the majority of the unit was sold to Walt Disney Co. for $2.6 billion.
Kevin Mayer, Walt Disney Co.’s longtime strategy chief, is moving from behind the scenes to a starring role. Mayer, who previously weighed acquisitions for Disney, will be responsible for executing the company’s shift from traditional TV to on-demand viewing.
The Walt Disney Co. today unveiled a sweeping reorganization that prepares the company to integrate 21st Century Fox assets. Two Disney executives received major promotions.
Walt Disney Co said today its shareholders, in a non-binding vote, rejected the executive compensation plan for CEO Bob Iger and other leaders of the entertainment and theme park company.
Comcast Corp’s roposal to buy Sky Plc for $31 billion has raised the specter of a potential bidding war between with Rupert Murdoch’s 21st Century Fox and Walt Disney Co.
With U.S. media giants 21st Century Fox, Walt Disney Co. and Comcast all circling European broadcaster Sky Plc, the economics of English Premier League soccer have never been more important. The sport has been a key tool for attracting subscribers to Sky’s service over the past 25 years. Now, its ability to retain rights until 2022 to show matches featuring Manchester United’s Paul Pogba and Tottenham Hotspur’s Harry Kane — and at a reasonable price — could have a major impact on the company’s worth in the eyes of its U.S. suitors.
Even though Comcast may revisit its bid for assets from 21st Century Fox, network chief Peter Rice is content with Disney’s $52.4 billion deal. “We struck a deal that we thought was good for Fox shareholders,” he said Monday night, adding that the Fox assets are “a great fit for Disney.”
Comcast is considering a new offer for Rupert Murdoch’s 21st Century Fox assets, despite an agreement in December to sell them to Walt Disney Co for $52.4 billion, according to people familiar with the matter. Comcast’s deliberations indicate that it believes it still has a chance to clinch a deal with Fox, even though its previous bid last year for more than $60 billion was rejected over concerns that regulators worried about media consolidation could thwart it, the sources said.
The Disney streaming service is beginning to crystallize. The studio has been conducting meetings within the creative community to give a sense of its new OTT service that will launch in fall 2019. Perhaps not surprisingly at this point, there was no mention of how the assets of Fox will fit into the new service.
Disney Beats Wall Street Estimates
Disney outpaced Wall Street expectations in the fiscal first quarter of 2018, helped by the release of Star Wars: The Last Jedi and a $1.6 billion boost from the new federal tax law. Media Networks, the division that includes ABC, BAMTech and the cable networks, has historically been a fairly steady profit engine. It had flat performance this quarter, and the cable portion saw revenues inch up just 1% to $4.5 billion and operating income decline 1% to $900 million.
Comcast may consider topping Disney’s bid for Fox, according to people familiar with the matter. No decision has been made by Comcast on a topping bid yet, said the people, who asked not to be named because the decision is private.
BURBANK, Calif. (AP) — Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey will be leaving the board of The Walt Disney Co. Neither executive will stand for re-election at […]
As Walt Disney Co.’s own plan to purchase the bulk of Murdoch’s 21st Century Fox looms in the background, the U.K.’s merger watchdog is set to issue provisional findings this week on whether the Sky takeover would give Murdoch too much influence in the U.K. and if Fox upholds broadcasting standards. With a final deadline scheduled for the start of March, Murdoch has little time to address any concerns.
Robert Iger, the chief executive of Walt Disney Co., saw his total compensation decline 17% in the recently concluded fiscal year to $36.3 million, according to the company’s latest proxy statement filed Friday to the Securities and Exchange Commission. The drop from last year’s $43.9 million was due in part to a smaller cash bonus to Iger that Disney said was the result of an “absence of growth” in the fiscal year.
Disney, which two weeks ago announced a deal to buy $52.4 billion of Fox TV and movie assets, has made clear its intention to go head-to-head with Netflix, saying it plans to yank its Disney movies and TV shows from the streaming giant in 2019 for its own soon-to-be-launched service.
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.
Why Disney Could Dominate Streaming
Disney’s purchase today of much of Fox’s assets could make the company the most dominant force in streaming, both live and subscription video on demand.
Disney’s $66 billion acquisition of Rupert Murdoch’s 21st Century Fox will help it accelerate its digital direct-to-consumer strategy, accelerate growth at Hulu and allow ESPN to become a global powerhouse, CEO Bob Iger said this morning in a call with investors.
Star Wars’ value to the Burbank entertainment giant goes well beyond the box office. Aside from spawning new video games, toys and theme park attractions, the space opera franchise will play a pivotal role in Disney’s efforts to build an online destination that can rival Netflix when it debuts in 2019.
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.
