Fox Shareholder Sues to Stop Disney Merger

12 July, 2018, 04:40 | Author: Cecil Buchanan
  • Mai Fyfield is viewed as one of the main architects of Sky's success

Just when you thought Disney had wrapped things up with its huge $71.3 billion bid for 20th Century Fox, The Hollywood Reporter brings word of another speedbump.

Sky's independent committee said Wednesday Fox's new bid "represents a substantial increase in value relative to the Comcast offer", and it will "unanimously recommend" the offer to Sky shareholders, according to the Financial Times.

Comcast believes finding such partners will not only allow it to argue that it can win antitrust approval for the Fox assets as easily as Disney, but will also boost its finances as its prepares to make a second all-cash offer later this month, the sources said.

Fox's new bid values the whole of Sky at £24.5 billion, beating an offer of £22 billion from United States (US) cable giant Comcast for the satellite TV group. Subscribe today and listen on the go!

Fox could face further competition from USA cable giant Comcast however, after it forced Sky's independent directors to drop their previous backing for Fox with an unexpected 12.50 pounds per share bid for the group in February.

Tayyip Erdogan inaugurates Turkey's powerful executive presidency
He vowed to "remain loyal to the rule of law, to the democratic and secular republic, and to Ataturk's principles and reforms". But he has also polarised opinion, cracking down on opponents and putting some 160,000 people in jail.


Kylie Jenner To Become Youngest ’Self-Made’ Billionaire Ever After Making $900 Million
Being part of a family consisting of such powerful, influential women wasn't the easiest thing for Kylie when it comes to finding her passion.


England RL stars get behind Southgate's World Cup stars in hilarious video
Gareth Southgate's side take on Croatia in Moscow tonight in a World Cup semi-final. Southgate added: "He is a player that is really appreciated by the team".


Only this time, it's not Comcast standing in the Mouse House's way, but a shareholder named Robert Weiss, who recently filed a lawsuit to stop the historic Disney-Fox merger.

"They're way behind the curve still", said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky. The European pay-TV company has become a pawn in a wider contest between Comcast and Walt Disney (dis) for the bulk of Murdoch's media empire, as each seeks scale to take on streaming competitors like Netflix.

"It's too low", Odey, a former son-in-law of Murdoch whose eponymous hedge fund is a Sky shareholder, said of the sweetened Fox offer.

Disney will have 90 days following the acquisition to sell off Fox's Sports Regional Networks, but is pleased to reveal that "the transaction will not harm competition, and that we were able to resolve the limited potential concerns to position us to move forward with this exciting opportunity that will enable us to create even more compelling consumer experiences".

Recommended:

  • North Atlantic Treaty Organisation  summit: Trump urges members urged to double defence spending

    North Atlantic Treaty Organisation summit: Trump urges members urged to double defence spending

    He saidthey discussed defense investment and trade, adding: "We have a tremendous relationship with Germany". Trump said: "We're protecting Germany, we're protecting France, we're protecting all of these countries".
    #WC2018: England lead Croatia 1-0 at half-time in semi-final

    #WC2018: England lead Croatia 1-0 at half-time in semi-final

    England play Croatia in Moscow on Wednesday night with a place in only their second major tournament final on the line. But while it beat goalkeeper, it didn't beat the post! Suddenly, England was rattled and Croatia was resurgent.
    Dele Alli: looking for more against Croatia

    Dele Alli: looking for more against Croatia

    I think we've shown maturity in our play to be so dominant but to be patient. "I didn't feel like I was playing as well as I should have been, especially in the first half".
  • Astros option Ken Giles to Triple-A Fresno

    Astros option Ken Giles to Triple-A Fresno

    The Houston Astros won Tuesday's game against the A's in ridiculous fashion , but it wasn't all smiles for the AL West leaders. The Houston Astros have optioned reliever Ken Giles to Triple-A Fresno, a night after he appeared to curse at manager A.J.
    Instagram Model Katarina Zarutskie OK After Nurse Shark Attack in Bahamas

    Instagram Model Katarina Zarutskie OK After Nurse Shark Attack in Bahamas

    Zarutskie encountered multiple complications and doctors believe there may still be "pieces of the tooth" lodged in her arm. A Florida student, who is also a model, says she's lucky to be alive after being bitten by a shark during a photo shoot.
    Seeded Roger Federer wastes match point, loses to Anderson at Wimbledon

    Seeded Roger Federer wastes match point, loses to Anderson at Wimbledon

    The 32-year-old became the first opponent to win a service game, and then a set, against Federer at this year's Championships. It will be Djokovic's first semi-final at a major since the 2016 French Open when he completed the career Grand Slam.
  • Pound crocodile caught by Australian rangers after decade-long hunt

    Pound crocodile caught by Australian rangers after decade-long hunt

    Crocodiles are farmed for their meat and hides, but large and battle-scarred crocs are usually unsuitable for the handbag market. The caption warned: "Large crocodiles can move around Top End waterways undetected and you should always Be Crocwise".
    Honeymooners in horror fatal zip line collision

    Honeymooners in horror fatal zip line collision

    Zip-lining as been suspended at a Royal Caribbean Cruises excursion in Honduras after a couple was involved in a deadly crash. Guerrero confirmed the death of the man and that the woman had been taken by ambulance plane to the U.S.
    Dier wary of 'world class' Rakitic and Modric

    Dier wary of 'world class' Rakitic and Modric

    Croatia has played an accumulated game time of 240 minutes in two matches in the round of sixteen and the quarters. They took photographs of themselves with the crowd and unfurled a banner saying "we play for you".
  • Three Lions Is Officially Number 1 In The UK

    Three Lions Is Officially Number 1 In The UK

    It's the ninth goal England has scored from a free kick, corner, or penalty thus far in the tournament, more than any other team in the field .

    Ex-UCLA Basketball Player Billy Knight Dead at 39

    At the end of the video, Knight spoke dearly of his brother, Eric, whom he seemed to express remorse for treating badly. He detailed his struggle with mental illness, saying, "I isolated myself from my family members".
    Judge Doubles Down On Order To Move Manafort To New Jail

    Judge Doubles Down On Order To Move Manafort To New Jail

    Marshals to move Manafort "promptly", though no specific timeline for the move was immediately known. Ellis concluded that Manafort's ability to prepare for trial "trumps his personal comfort".


Popular

Froome and Quintana struggle in opening Tour de France stage
Froome, who is looking for his fifth Tour de France title, crossed the line 51 seconds behind Gaviria. "It was all about trying to win the stage".

Facebook faces first fine over Cambridge Analytica scandal
Mr Collins said his own committee will publish its interim report about disinformation and data use in political campaigns later this month.

Israeli military says it shot down a Syrian drone
Conricus said that after the drone was destroyed by a single Patriot missile, its remains landed near the Sea of Galilee. Prime Minister Benjamin Netanyahu reiterated that warning during a visit to Moscow for talks with Vladimir Putin.

Woman accidentally stole vehicle , kept it for two weeks
The keys she turned in belonged to a Nissan Infiniti rather than a Sentra, leaving the manager "slightly confused", said police. Since the Infiniti owner had reported his vehicle stolen, the police were able to track him down and return the auto .

Wimbledon 2018: Rafael Nadal Prefers Not To Face Roger Federer In Final
Anderson scented blood and, out-duelling Federer time and again, he broke in the seventh game to level the match at two sets all. Federer, the No. 1 seed, had match point up 5-4 in the third set, but could not put Anderson, the No. 8 seed, away.

Rosenberg on rate hike: 'I would have done absolutely nothing'
CPI inflation is expected to edge up further to about 2.5 per cent before settling back to 2 per cent by the second half of 2019. As with other monetary policy officials, the BoC shed some light on the impact of trade disputes and tariffs on the economy.

Trump readies tariffs on another $US200m of Chinese goods
High-level talks between the two countries starting in May had failed to deliver a breakthrough to head off a trade war. China then fired back with retaliatory tariffs on $ 34 billion worth of US goods, including soybeans and pork.

Djokovic slams Wimbledon crowd after being booed
Djokovic has twice before played a British opponent at Wimbledon , losing to Andy Murray in 2013 and beating James Ward in 2016. Rosengren said: "He is in unbelievably good shape mentally".

Trump, May get Croatian jerseys ahead of England World Cup semi-final
Nicknamed "the Fiery Ones", that team has stood as an example to their successors ever since. These games will decide the final winners.

Wimbledon 2018 -- Men's quarterfinal matches
Kevin Anderson , who played at the University of IL , knocked defending champion Roger Federer out of Wimbledon Wednesday. The Wimbledon legend was relegated because Rafael Nadal and Novak Djokovic were put on Centre Court.