Latest in 21st Century Fox

Veteran Wall Street media analyst Michael Nathanson got straight to the point in his latest note to clients of his firm, MoffettNathanson. “Fox's early life as a new company has been nothing short of disappointing,” he wrote in the note, which is titled “Please Turn the Page.” Cord-cutting and the associated softening…

EXCLUSIVE: DriveTribe, the motoring social network founded by The Grand Tour team, is planning to turn its first profit in 2020 after growing the business and taking £2.5M ($3M) of investment from Elisabeth Murdoch. DriveTribe was launched by Jeremy Clarkson, Richard Hammond, James May and Andy Wilman in November 2016…

Disney and Sinclair Broadcast Group have formally closed their $9.6 billion transfer of 21 regional sports networks once owned by 21st Century Fox. In order to close its $71.3 billion acquisition of most of Fox, Disney agreed to sell off the RSNs so as to avoid monopoly issues given the scope of its ESPN holdings. The…

Fox Corp. beat Wall Street estimates in its first full quarter as a stand-alone company, with affiliate revenue and digital licensing powering the performance. Adjusted earnings per share came in at 62 cents, which was 3 cents greater than Wall Street analysts’ consensus but 7% lower than the 67 cents reported in the…

Fox Corp. stock slipped 2% on Monday to close at $35.92 after Guggenheim Partners analyst Michael Morris downgraded the shares to “neutral” from “buy.” Morris, who also lowered his 12-month price target on the stock to $38 from $43, cited the company’s reliance on traditional carriage fees and upcoming renewals with…

Fox brought down the curtain on its previous chapter as the larger media entity 21st Century Fox, reporting third-quarter results that exceeded Wall Street expectations. Excluding items, earnings per share came in at 76 cents, almost a dime better than estimates, and revenue of $2.75 billion beat forecasts for $2.61…

Fox Corp. has confirmed it received a $2 billion cash payment from Disney, which reduces the “transaction tax” the new entity paid to 21st Century Fox to $6.5 billion. Both were expected steps following the closing of the $71.3 billion Disney deal, which became official just after midnight Wednesday. The newly minted…

UPDATE: At 12:02AM ET, one of the most consequential mergers in Hollywood history became official. The Walt Disney Co. has acquired about two-thirds of 21st Century Fox, altering the entertainment landscape at a time of dramatic change. For $71.3 billion, Disney has acquired a range of film and TV assets including the…

UPDATED with Rupert Murdoch memo: With fewer than 24 hours remaining before the acquisition of 21st Century Fox by Disney closes, the remaining stand-alone entity Fox Corp. begins trading today and has announced new members of its board of directors. The company will maintain the ticker symbols FOXA and FOX for its…

Nearly 52% of shareholders in 21st Century Fox, the entity that is about to be acquired by Disney, have expressed a preference to receive cash in exchange for their shares after the Disney-Fox deal closes early Wednesday. About 37% of shareholders said they would prefer shares in New Disney (as the Fox-ified company…

Mexican regulators have given the final sign-off to Disney’s $73.1 billion merger with the assets of 21st Century Fox, clearing the way for the companies to complete the deal by March 20. The country’s Federal Telecommunications Institute (IFT) said Tuesday that during its regular session the day before it unanimously…

Disney has set a March 20 closing date for the acquisition of 21st Century Fox. The date was included in a release in which Disney indicated that the company has received the last major approval for the deal from regulators in Mexico. According to Disney, 21st Century Fox shareholders will have until Thursday to…