The Daily Populous

Thursday December 14th, 2017 night edition

image for Disney to Buy 21st Century Fox Assets, Including Film Studio; Bob Iger Extends Through 2021

The Walt Disney Co. has agreed to acquire big parts of 21st Century Fox in an all-stock deal worth $52.4 billion, or approximately $66.1 billion when including debt, valuing shares of Fox at around $40 apiece while they had traded Wednesday at $32.75.

In another key news update, Disney said that longtime boss Bob Iger has extended his contract as chairman and CEO through the end of 2021.

Management said the full financial benefits of the deal would become visible by 2021.

The deal will make Rupert Murdoch, executive co-chairman of Fox, and sons James (CEO) and Lachlan (co-executive chairman) key shareholders of Disney stock.

"Furthermore, I'm convinced that this combination, under Bob Iger's leadership, will be one of the greatest companies in the world.

Under the terms of the agreement, shareholders of Fox will receive 0.2745 Disney shares for each Fox share they hold, subject to adjustment for certain tax liabilities.

Disney will also assume approximately $13.7 billion of net debt of Fox. »

Disney to Buy 21st Century Fox Assets for $52.4 Billion in Historic Hollywood Merger

Authored by
image for

The deal values the 21st Century Fox assets in the transaction at $66.1 billion, including $13.7 billion in 21st Century Fox debt, or $28 a share.

21st Century Fox shareholders will receive 0.2745 Disney shares for each Fox share held, giving Fox shareholders about 25% of Disney.

21st Century Fox will spinoff Fox Broadcasting Co., Fox Sports, Fox News, Fox Television Stations and a handful of other assets into a new company that will have revenue of $10 billion and earnings of about $2.8 billion. »

Here's a List of the Members of Congress Who Just Told Ajit Pai to Repeal Net Neutrality

Authored by
image for

Wednesday afternoon, 107 Republican members of Congress sent Federal Communications Commission Chairman Ajit Pai a letter supporting his plan to repeal net neutrality protections ahead of the commission’s Thursday vote.

“The record is exhaustive, every viewpoint is well represented, and the time has come for the Commission to act,” the letter says.

Many of their signatures are illegible, and the committee did not release a typed list of the members who signed it. »

Teen Cannabis, Cigarette, and Other Drug Use Drops in States With Legal Medical Marijuana

Authored by
image for

Many expected its use among teenagers to increase due to its broader availability and the normalization of its use in society.

An increase would be troubling for policymakers since there is evidence that early marijuana use may have a negative impact on developing brains.

A study released this week in Drug & Alcohol Dependence supports this growing consensus that medical marijuana laws are not encouraging teens to use pot. »

Walt Disney buys Murdoch's Fox for $52bn

Authored by

Walt Disney has agreed to buy the bulk of 21st Century Fox's business for $52.4bn (£39bn), in a deal both companies said position them to compete in the rapidly changing media industry.

The move is a sharp shift for 86-year-old Fox owner Rupert Murdoch after more than half a century of media expansion.

Image copyright Disney Image caption Disney's long-standing chief executive Bob Iger struck the deal with Rupert Murdoch. »