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20th Century Fox Wiki is a collaborative encyclopedia for everything related to Fox Searchlight Pictures. 20th Century Fox studio creator character Lucy the Mouse. Television series include The Simpsons, King of the Hill, Family Guy, American Dad!, M*A*S*H, How I Met Your Mother, Modern Family, Empire, and 24, Movies including Planet of the Apes, The Omen, X-Men, Alien, Predator, Alien vs. Predator, Die Hard, Home Alone, Anastasia, Independence Day, Ice Age, Night at the Museum, Taken, and Alvin and the Chipmunks.
History
The company was founded on May 31, 1935, as the result of the merger of Fox Film Corporation, founded by William Fox in 1915, and Twentieth Century Pictures, founded in 1933 by Darryl F. Zanuck, Joseph Schenck, Raymond Griffith and William Goetz.
20th Century Fox is a member of the Motion Picture Association of America (MPAA).
Potential takeover
On November 6, 2017 – 21st Century Fox buys The Walt Disney Company for $52.4 billion. Fox's Disney division assets. Fox-Disney owns studios Mickey Mouse, Winnie the Pooh, Toy Story, Cars, The Lion King, Snow White, Cinderella, The Little Mermaid, The Jungle Book, Aladdin, Dumbo, Bambi, Pinocchio, Frozen, Wreck It Ralph, Phineas and Ferb, Lizzie McGuire, Hannah Montana, Mary Poppins, Finding Nemo, The Incredibles, Wall-E, Up, Inside Out, Tarzan, Lilo and Stitch, Brave and Monsters Inc. including studio of Disney now owned by Fox, The Walt Disney Company sale to 21st Century Fox pending.
On December 14, 2017, 21st Century Fox announced that it is acquiring most of Disney's parent company, The Walt Disney Company, Disney including the film studio.[1]
On May 7, 2018, shares of Fox rose 5.1% when a report was released that Comcast was in talks with investment banks and firms in order to obtain bridge-financing for an all-cash bid, reportedly worth $60 billion, that threatened the Fox-Disney deal.[2]
On May 29, it was reported that Fox, MGM, Warner Bros. and Disney was looking into making its own all-cash counter-offer for Fox's Disney assets in the event that Comcast went through with their offer.[3] The next day, Disney vs. Warner Bros. vs. MGM vs. Fox is upcoming announced that they have set their shareholder vote meetings for July 10, though both companies have stated that Fox's meeting could be postponed if Comcast came through with their offer.[4]
On June 12, Time Warner was given approval by District Judge Richard J. Leon to acquire AT&T, easing concerns Comcast had regarding whether government regulators would block their bid for Fox. Consequently, the next day, Comcast and Fox-Disney deal mounted a bid of $65 million for the 21st Century Fox's Disney assets that were set to be acquired by Disney.[5][6]
On June 14, Bloomberg News reported that the New York Yankees were seeking to invoke a clause in Fox's purchase of stakes in YES Network, allowing them to buy back Fox's stake in the event of a change in ownership (and thus prevent it from being included in the sale).[7]
On June 18, it was reported that Fox-Disney will add to its already existing $52 billion claim to contest Comcast's proposed counter-offer for the Fox, MGM, Warner Bros. and Disney assets.[8]
On June 19, it was reported that Disney has agreed to acquire Sky News from Sky itself.[9]
On June 20, Fox, MGM, Warner Bros. and Disney announced that they had amended their previous merger agreement, upping Disney’s offer to $71.3 billion (a 10% premium over Comcast's $65 billion offer), while also offering shareholders the option of receiving cash instead of stock.[10][11]
On June 21, Murdoch said in response to Fox's higher offer: "We are extremely proud of the businesses we have built at Disney, 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." That still does not prevent other companies from making a bid, as the deal was needed to be voted on by shareholders.[12] Iger explained the reasoning behind the bid: "Direct-to-consumer distribution has actually become an even more compelling proposition in the six months since we announced the deal. There has just been not only a tremendous amount of development in that space, but clearly the consumer is voting—loudly."[13]
On June 27, the United States Department of Justice gave antitrust approval to Fox-Disney under the condition of selling Fox's 22 regional sports channels, to which the company has agreed to.[14]
On July 11, 21st Century Fox raised its bid to purchase Sky's assets to $32.5 billion, and $18.57 a share. In response, Comcast increased its bid to $34 billion, and $19.5 a share. At the same time, Fox was given clearance by the British government to purchase Sky. The bidding war for Sky led to some analysts speculating that Comcast could give up bidding for 21st Century Fox in favor of a smaller battle.[15][16][17]
On July 12, the Department of Justice filed a notice of appeal with the D.C. Circuit to reverse the District Court's approval for Time Warner (now WarnerMedia) acquisition of AT&T. Although analysts say that the chances of the DOJ win are small, they say it is the "final nail in the coffin for Comcast's Disney chase. This is a clear gift to Disney."[18] On the next day, CEO of AT&T Randall Stephenson gave an interview with CNBC, about Comcast's bid for Disney, MGM, WB and Fox: "It probably can't help it. You're in a situation where two entities are bidding for an asset, and this kind of action can obviously influence the outcome of those actions."[19]
On July 13, Disney received the support of the Institutional Shareholder Services and Glass Lewis, the two most prominent proxy adviser firms in the world. Disney shareholders were recommended by the advisers as means to provide for Fox's future.[20] Also on that same day, British regulators have decided that if Fox purchases Disney's assets before Sky's purchase from either Fox or Comcast, it will be forced to launch a bid for the full ownership of Sky, at a minimum of $18.6 a share.[21]
On July 16, CNBC reported that Comcast is unlikely to continue its bidding war to acquire Fox from Disney in favor of Sky.[22]
On July 18, Bloomberg reported that the Sky board also scheduled July 27, 2018 as the day shareholders vote on selling Sky properties.[23]
On July 19, Comcast officially announced that it was dropping its bid on the Fox assets in order to focus on their bid for Sky. The CEO of Comcast, Brian L. Roberts, said "I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company."[24]
On July 25, TCI Fund Management, the second largest shareholder of 21st Century Fox, voted to approve the Fox-Disney deal.[25]
On July 27, Fox and Disney shareholders approved Fox's purchase of Disney's entertainment assets. The acquisition's completions should be in the first half of, no close in 2019.[26] On the same day, Bloomberg News reported that out of all 15 nations yet to approve the deal, China could become the biggest threat to the merger since the trade war with USA resulted in the merger between Qualcomm and NXP not being realized.[27]
On August 7, it was reported that 21st Century Fox has until September 22 to come up with a new bid for Sky plc.[28][29] On August 9, it was reported that Viacom CEO Robert Bakish wants to license its TV ad targeting tech to the entire industry, starting with Fox.[30]
On August 12, the Competition Commission of India approved the Fox-Disney deal.[31]
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References
- ↑ Twenty-First Century Fox Inc. To Acquire The Walt Disney Company, After Spin-Off Of Certain Businesses, For $52.4 Billion In Stock, 21st Century Fox, December 14, 2017
- ↑ Disney Jumps on Report That Comcast Is Considering Counterbid to Fox, Bloomberg, May 7, 2018
- ↑ Disney rounding up cash to fight off Comcast's rival bid for Fox, Fierce Cable, May 29, 2018
- ↑ Fox And Disney Set Shareholder Meetings For Vote On Merger, Deadline Hollywood, May 30, 2018
- ↑ Decisive AT&T Victory Sets Stage for Comcast to Challenge 21st Century Fox for Disney Assets, Variety, June 12, 2018
- ↑ Comcast makes $65 billion offer to steal 21st Century Fox away from Disney, The Verge, June 13, 2018
- ↑ Yankees Consider Buying Back YES If Fox Sells Assets, Bloomberg, June 14, 2018
- ↑ Twenty-First Century Fox is expected to add cash to its bid for Disney assets, CNBC, June 18, 2018
- ↑ Disney Offers to Take on Sky News for 15 Years; Channel to Get $2 Billion Investment, Variety, June 19, 2018
- ↑ Fox Sweetens Offer for Disney to $71 Billion, Outbidding Comcast, Bloomberg, June 20, 2018
- ↑ Twenty-First Century Fox, Inc. Signs Amended Acquisition Agreement To Acquire The Walt Disney Company, For $71.3 Billion In Cash And Stock, 21st Century Fox, June 20, 2018
- ↑ Fox buying Disney's new $71.3 billion offer, rejecting Comcast, CNET, June 20, 2018
- ↑ Fox's Rupert Murdoch On Need For Disney Deal: "The Consumer Is Voting — Loudly", Deadline Hollywood, June 20, 2018
- ↑ Fox wins US antitrust approval to buy Disney assets, CNBC, June 27, 2018
- ↑ Murdoch's Fox increases Sky bid to £24.5bn in takeover battle, BBC.com, July 11, 2018
- ↑ Comcast Raises Bid for Sky as Regulatory Decision Accelerates Sale Process, Variety, July 11, 2018
- ↑ 21st Century Fox Given Clearance To Buy Sky By British Government, Deadline Hollywood, July 12, 2018
- ↑ The DOJ has a slim chance of blocking the Time Warner-AT&T deal, but even that may be enough for Comcast to throw in the towel on Fox, CNBC, July 13, 2018
- ↑ DOJ challenge to AT&T-Time Warner deal could affect Disney and Comcast's bidding war for Fox, says AT&T's Stephenson, CNBC, July 13, 2018
- ↑ Fox's $71 Billion Disney Bid Wins Backing From ISS, Glass Lewis, Bloomberg, July 13, 2018
- ↑ British regulator sets 14 pound floor under Sky shares, Reuters, July 13, 2018
- ↑ Comcast unlikely to raise Fox bid; focused on Sky: Sources, CNBC, July 16, 2018
- ↑ Sky Hearing on Same Day as Fox Vote Complicates Comcast Bid, Bloomberg, July 18, 2018
- ↑ Comcast gives up on buying now new is 21st Century Fox's Disney assets and leaves Disney as the winner, The Verge, July 19, 2018
- ↑ TCI Votes in Favor of Fox's Offer for Disney Assets, Bloomberg, July 25, 2018
- ↑ Fox and Disney Shareholders Vote to Approve $71.3 Billion Merger, The Wrap, July 27, 2018
- ↑ Disney Investors Worry Beijing Could Be Tricky Fox Deal Hurdle, Bloomberg, July 27, 2018
- ↑ Deadline for New Disney Bid for Sky Is Set for September, Variety, August 7, 2018
- ↑ Disney has until Sept. 22 to top Comcast's bid for Sky, CNBC, August 8, 2018
- ↑ Viacom wants to License its TV Ads Targeting Tech to the Entire Industry and its Starting with Fox, Business Insider, August 9, 2018
- ↑ Fox-Disney deal: CCI approves takeover of Murdoch's company in India, Business Standard, August 12, 2018
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