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Everything We Know About Disney's Bid For 21st Century Fox Assets

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Everything We Know About Disney's Bid For 21st Century Fox Assets
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Walt Disney Co (NYSE: DIS) is reportedly on track to announce a $60 billion all-stock deal this week to acquire most of Twenty-First Century Fox Inc (NASDAQ: FOXA)’s assets.

The media parties, whose talks were first reported Nov. 6 and drew the since-abated interest of Comcast Corporation (NASDAQ: CMCSA) and Verizon Communications Inc. (NYSE: VZ), have negotiated the transfer of Fox’s movie and TV studios, 22 regional cable sports networks, cable networks such as FX and National Geographic, and stakes in Hulu, Sky and Star.

Fox will retain Fox News, FS1, and a broadcasting unit between the Fox network and local stations — assets with aggregated earnings before interest, taxes, depreciation and amortization of $2.8 billion.

Upon the deal’s closing, Fox’s shareholders will hold 25 percent of the expanded Disney, receiving shares in a fixed exchange ratio coupled with one share of the new Fox valued near $10 per share.

CNBC has reported official terms of the deal could be released as soon as Thursday without management-related updates, although Disney CEO Bob Iger is expected to extend his tenure another two to three years to facilitate the asset integration.

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