News broke yesterday afternoon that 21st Century Fox is looking to sell part of their company to the Walt Disney Company. Although it appears talks are stalled at the moment on the deal. The deal would not include Fox News Network, Fox Business, or Fox Sports Networks. Here is the article from CNBC by David Faber:
21st Century Fox has been holding talks to sell most of the company to Disney: Sources
21st Century Fox has been holding talks to sell most of the company to Walt Disney Co., leaving behind a media company tightly focused on news and sports, according to people familiar with the situation.
The talks have taken place over the last few weeks and there is no certainty they will lead to a deal. The two sides are not currently talking at this very moment, but given the on again, off again nature of the talks, they could be revisited.
For Fox, the willingness to engage in sale talks with Disney stems from a growing belief among its senior management that scale in media is of immediate importance and there is not a path to gain that scale in entertainment through acquisition. The company is said to believe that a more tightly focused group of properties around news and sports could compete more effectively in the current marketplace.
The media landscape has changed considerably in recent years with giants such as Facebook, Google (Alphabet), Amazon and Netflix changing the way people consume media and dominating the digital distribution of digital video content. Being able to compete in that changing landscape, many people believe, requires scale that a Disney has, but 21st Century Fox does not.
For Disney, the opportunity to take control of another movie studio and significant TV production assets as it readies a direct-to-consumer entertainment streaming offering is attractive as is Fox's significant exposure to international markets, such as the U.K., Germany and Italy — both through its networks and 39 percent ownership of Sky. Disney recently announced it will pull all of its movies from the Netflix platform and will establish two direct-to-consumer offerings: one for sports and one including its key franchises such as "Star Wars" and Marvel.
Disney would not purchase all of Fox, according to people with knowledge of the talks.
The company could not own two broadcast networks and would therefore not buy the Fox broadcast network. It would not buy Fox's sports programming assets in the belief that combining them with ESPN could be seen as anti-competitive from an antitrust standpoint and it would not buy the Fox News or Business channel. Disney would also not purchase Fox's local broadcasting affiliates, according to people familiar with the negotiations.
In addition to the movie studio, TV production and international assets such as Star and Sky, Disney would also add entertainment networks such as FX and National Geographic.
The contemplated structure of the deal or the price that has been discussed could not be learned. Given it would involve the sale of many, but not all of Fox's properties, it's unclear how Fox would mitigate potential tax consequences of a deal.
Officials at Disney and Fox declined to comment.
Source: CNBC
New Carousel of Progress Sorcerers of the Magic Kingdom Card for Mickey's Very Merry:
With the first Mickey's Very Merry Christmas Party taking place on Thursday, there is a new Sorcerers of the Magic Kingdom card being released for the party. This year's card features Rover from Carousel of Progress.
This year’s party-exclusive card, “Rover’s Christmas Carousel of Progress” features our trusty companion Rover from Carousel of Progress. According to Imagineer Jonathan Ackley, Carousel of Progress was chosen to be featured on this season’s card “because Merlin is inspired by the Carousel of Progress’ celebration of human innovation.”
The card will be available at the Firehouse on Main Street, USA where guests can pick up this party exclusive as well as complimentary cards and can purchase additional cards.
Source: Disney Parks Blog
