Television

Disney makes $70.3 billion counterbid for Twenty-First Century Fox

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2018/06/20/FOX.jpg?itok=Gjpr7sjw

MUMBAI: 21st Century Fox has announced that it has entered into an amended and restated merger agreement with The Walt Disney Company pursuant to which Disney has agreed to acquire for a price of $38 per 21CF share the same businesses. Disney agreed to acquire under the previously announced merger agreement between 21CF and Disney. 

This price represents a significant increase over the purchase price of approximately $28 per share included in the Disney Merger Agreement when it was announced in December 2017.  The amended and restated Disney Merger Agreement offers a package of consideration, flexibility and deal certainty enhancements that is superior to the proposal made by the Comcast Corporation on June 13, 2018.

Under the amended and restated Disney Merger Agreement, Disney would acquire those businesses on substantially the same terms, except that, among other things, Disney's offer allows 21CF stockholders to elect to receive their consideration, on a value equalized basis, in the form of cash or stock, subject to 50/50 proration. The collar on the stock consideration will ensure that 21st Century Fox shareholders will receive a number of Disney shares equal to $38 in value if the average Disney stock price at closing is between $93.53 and $114.32. 

"We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry," said Rupert Murdoch, Executive Chairman of 21st Century Fox. "We remain convinced that the combination of 21CF's iconic assets, brands and franchises with Disney's will create one of the greatest, most innovative companies in the world.”

In light of the revised terms contained in the amended and restated Disney Merger Agreement, 21CF's board, after consultation with its outside legal counsel and financial advisors, has not concluded that the unsolicited proposal it received on June 13, 2018 from Comcast could reasonably be expected to result in a "Company Superior Proposal" under the Disney Merger Agreement. 

However, the amended and restated Disney Merger Agreement contains no changes to the provisions relating to the Company's directors' ability to evaluate a competing proposal.

As announced on May 30, 2018, 21CF has established a record date of May 29, 2018 and a meeting date of July 10, 2018, for a special meeting of its stockholders to, among other things, consider and vote on a proposal to adopt the Disney Merger Agreement.  21CF has determined to postpone its special meeting of stockholders to a future date in order to provide stockholders the opportunity to evaluate the terms of Disney's revised proposal and other developments to date. Once 21CF determines the new date for 21CF's special meeting of stockholders, the date will be communicated to 21CF stockholders.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/dangal.jpg?itok=9xNS02rS
Always First. always right: Counting Day with CNN-News18 and News18 India

As the entire nation and the political parties await the verdict of the fiercely contested General Elections, CNN-News18 and News18 India are set to present the most exhaustive reportage of the Counting Day on 23rd May.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/modi.jpg?itok=ob3jx3Z5
‘Modi: Journey Of A Common Man’ Goes Live on Eros Now

Eros Now, a cutting-edge digital over-the-top (OTT) South Asian entertainment platform owned by Eros International PLC (NYSE:EROS)

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/espn.jpg?itok=0eXTTssh
ESPNcricinfo announces its programming and content plans for ICC Cricket World Cup 2019

As the cricket community around the world gears up for the ICC Cricket World Cup 2019, ESPNcricinfo, the go-to destination for all things cricket, has announced its content and coverage strategy and programming.

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/ICC.jpg?itok=2kVul-cF
ICC announce broadcast and digital distribution plans for ICC Men's Cricket World Cup 2019

The ICC have announced the broadcast and digital distribution plans for the ICC Men’s Cricket World Cup 2019, providing cricket fans across the world with the widest range of platforms to access the tournament across television, radio and digital platforms, as well as news, in cinemas, at Fan Parks...

Television TV Channels Sports
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/sunny.jpg?itok=f5tBN1xr
From pornstar to bollywood princess The improbable journey of Bollywood actress Sunny Leone Revealed in Powerful Documentary ‘Mostly Sunny’ First time on Indian television at 9:00 pm, May 24 on Discovery and TLC channels

The transformation of a small-town Canadian girl from Porn Star to Queen of one of the biggest film industry Bollywood, Sunny Leone is the subject of a revealing documentary ‘Mostly Sunny’ which will be telecast on 24th May at 21:00 hrs on Discovery Channel, Discovery HD World, TLC, TLC HD World.

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/sujeet.jpg?itok=r-1RE-iQ
Zee Media VP and head of marketing Sujeet Mishra resigns

The VP and head of marketing at Zee Media Sujeet Mishra has resigned from his post, suggest media reports.

Television TV Channels People
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/22/Chrome_800.jpg?itok=WY2IQUJo
Kids genre emerges as most benefitted in Chrome DM week 20

Kids genre has grown 3.83 per cent in week 20 of Chrome Data Analytics and Media. In this genre, Nickelodeon Junior gained the highest OTS with 77.5 per cent in All India 1 Lakh+ market.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/21/Natgro.jpg?itok=5o0O0fUM
National Geographic announces an epic production to chronicle the world’s largest election

When 11 million poll officials, over 900 million electorate and 8000 candidates converge across one million polling booths to participate in the world’s largest democratic exercise, you get an incredible story at hand.

Television TV Channels Factual @ Discovery
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/05/21/sony.jpg?itok=TOplVIzz
Sony Music, Societe General, Adidas Partner for Upcoming Inspiring true story on Rugby-based UK/India Co-production ‘Jungle Cry’

Global sportswear brand, adidas, has partnered with the much-awaited sports biopic ‘Jungle Cry’ that recently completed filming in India and Wales. ‘Jungle Cry’ will unveil its official trailer and poster at special events during the 72 nd Festival de Cannes.

Television TV Channels Music and Youth

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories