Key Developments: Twenty-First Century Fox Inc (FOXA.OQ)

FOXA.OQ on NASDAQ Stock Exchange Global Select Market

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23 Jul 2014
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Latest Key Developments (Source: Significant Developments)

TPG to Acquire Twenty-First Century Fox, Inc's Stake In Phoenix Satellite Television Holdings Limited
Friday, 18 Oct 2013 11:15am EDT 

TPG, one of the private investment firms, and Twenty-First Century Fox, Inc (21CF)announced that they have entered into a definitive agreement, pursuant to which TPG agreed to acquire the remaining 12.15% stake held by 21CF's wholly owned subsidiary Star Entertainment Holdings Limited in Phoenix Satellite Television Holdings Limited (Phoenix TV). Upon completion of the sale, 21CF will no longer hold an equity interest in Phoenix and its representatives will step down from the board.  Full Article

Perpetual Limited And Subsidiaries Becomes Substantial Holder Of Twenty-first Century Fox Inc
Thursday, 3 Oct 2013 02:27am EDT 

Twenty-first Century Fox Inc announced that Perpetual Limited And Subsidiaries has become a substantial holder on October 1, 2013 with 6.46% interest in the Company.  Full Article

U.S. Supreme Court Agrees To Hear Raging Bull Copyright Case Which Involves Twenty-First Century Fox, Inc.'s Subsidiary And MGM Holdings Inc - Reuters
Tuesday, 1 Oct 2013 10:35am EDT 

Reuters reported that the U.S. Supreme Court on October 1, 2013 agreed to take up a copyright dispute over an early screenplay of boxing movie Raging Bull. Paula Petrella, daughter of the deceased screenwriter Frank Petrella, said MGM Holdings Inc and Twentieth Century Fox Home Entertainment had infringed the copyright of a 1963 screenplay upon which the 1980 movie was based. Fox, a subsidiary of Twenty-First Century Fox, Inc., is a named defendant because it has the rights to distribute MGM movies on DVD. Petrella, who inherited rights to the screenplay upon her father’s death, renewed the copyright in 1991 but did not take action until the late 1990s. Then she said MGM was infringing on her rights by continuing to market the movie. MGM successfully claimed that Petrella’s failure to assert her claims earlier meant she had forfeited them.  Full Article

Twenty-First Century Fox, Inc. Announces Change In Fiscal Year
Sunday, 22 Sep 2013 06:34pm EDT 

Twenty-First Century Fox, Inc. announced that on September 19, 2013, the Company has changed its fiscal year from a 52-53 week fiscal year ending on the Sunday closest to June 30 to a fiscal year ending on June 30 of each year. The Company made this change to better align its financial reporting with the media and entertainment assets retained following the separation of its business into two independent publicly traded companies. The Company will not be required to file a transition report because this change is not deemed a change in fiscal year for purposes of reporting subject to Rule 13a-10 or Rule 15d-10 of the Securities Exchange Act of 1934, as amended, as the new fiscal year commences within seven days of the prior fiscal year end and the new fiscal year commences with the end of the prior fiscal year.  Full Article

Twenty-First Century Fox, Inc. Issues FY 2016 EBITDA Guidance; Comments On Long Term Guidance-Conference Call
Thursday, 8 Aug 2013 12:00pm EDT 

Twenty-First Century Fox, Inc. announced that for fiscal 2016, it expects EBITDA target of $9 billion plus, a low-teens annual growth rate over fiscal 2013. The Company also announced that earnings growth would be lower in the next two years, high single to low double-digit in fiscal 2014 as the Company launch US sports and entertainment networks, as well as Asian sports networks. The Company expect revenue growth during the next three years in the high single digits. The Company reported net income of $3.181 billion and revenue of $27.675 billion for fiscal 2013. According to I/B/E/S estimates, analysts were expecting the Company to report net income of $3.473 billion, revenue of $30.228 billion for fiscal 2014; revenue of $32.123 billion, net income of $4.308 billion for fiscal 2015; revenue of $33.583 billion, EBITDA of $8.646 billion for fiscal 2016.  Full Article

Twenty-First Century Fox, Inc. Completes Separation Of Business Into Two Independent Publicly Traded Companies-Form 8-K
Wednesday, 3 Jul 2013 06:30am EDT 

Twenty-First Century Fox, Inc. reported in its Form 8-K that effective June 28, 2013, the Company completed the previously announced separation of its business into two independent publicly traded companies. The Company has retained the media and entertainment businesses and the new News Corporation (News Corp) holds businesses consisting of the Company’s former newspapers, information services and integrated marketing services, digital real estate services, book publishing, digital education and sports programming and pay-TV distribution in Australia. On June 28, 2013, the Company entered into certain agreements with News Corp related to the Separation.  Full Article

News Corp And The New News Corporation Execute On Stockholder Rights Agreements; Announces Name Change
Sunday, 16 Jun 2013 06:28pm EDT 

News Corp and New News Corporation announced that, in advance of the separation of the Company into two distinct publicly traded companies (the Separation), 21st Century Fox (which will be the new name of the Company after the Separation) and the new News Corporation, the Company and the new News Corporation have each entered into the previously announced stockholder rights agreements as of June 14, 2013. In connection with the rights agreements, the Company and the new News Corporation will distribute one right for each outstanding share of their common stock held by all stockholders at the close of business on June 21, 2013, with the distribution conditioned upon the completion of the separation. Each right entitles the holder to purchase one one-thousandth of a share of 21st Century Fox Series A junior participating preferred stock or the new News Corporation Series A junior participating preferred stock (each subject to anti-dilution provisions), as applicable, upon the occurrence of certain triggering events. The purchase price for the 21st Century Fox Series A junior participating preferred stock and the new News Corporation Series A junior participating preferred stock will be the exercise price of $150.00 and $90.00, respectively, subject to certain adjustments. The rights agreements will expire on May 24, 2014, in the case of the Company, or one year after the date of the Separation, in the case of the new News Corporation.  Full Article

News Corp Announces Management Changes
Thursday, 13 Jun 2013 04:05pm EDT 

News Corp announced that its veteran Chief Financial Officer David DeVoe will retire at the end of this fiscal year. Mr. DeVoe will maintain his seat on the Company`s Board of Directors, on which he has served since 1990, and remain a senior advisor to the Company. John Nallen has been appointed Senior Executive Vice President and Chief Financial Officer of the Company, which will be re-named 21st Century Fox and hold News Corporation`s media and entertainment businesses following its separation on June 28 into two independent, publicly traded companies. Mr. Nallen`s appointment is effective July 1, 2013.  Full Article

News Corp Announces Management Changes
Thursday, 13 Jun 2013 04:05pm EDT 

News Corp announced that its veteran Chief Financial Officer David DeVoe will retire at the end of this fiscal year. Mr. DeVoe will maintain his seat on the Company`s Board of Directors, on which he has served since 1990, and remain a senior advisor to the Company. John Nallen has been appointed Senior Executive Vice President and Chief Financial Officer of the Company, which will be re-named 21st Century Fox and hold News Corporation`s media and entertainment businesses following its separation on June 28 into two independent, publicly traded companies. Mr. Nallen`s appointment is effective July 1, 2013.  Full Article

News Corp Approves Proposals Related To Company Split-DJ
Tuesday, 11 Jun 2013 10:34am EDT 

Dow Jones reported that News Corp.'s shareholders voted to advance the media Company's plans to split off its publishing assets into a separate publicly-traded entity and rename the remaining TV and film-focused business 21st Century Fox. At a meeting in New York, shareholders easily approved three amendments to News Corp.'s certificate of incorporation that position the Company to complete the separation on June 28, News Corp. Chairman Rupert Murdoch said at the meeting.  Full Article

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Carey pressured from both sides of Fox Time Warner deal to stay in job

LOS ANGELES/NEW YORK - Chase Carey, Twenty-First Century Fox's president and chief operating officer, may be feeling pressure to stay in his job for several more years both from his boss, Rupert Murdoch, and from the company Murdoch is trying to buy, Time Warner Inc.

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