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Media News

BRIEF-The Walt Disney Co To Acquire Twenty-First Century Fox For $52.4 Billion In Stock

Dec 14 (Reuters) - Walt Disney Co:

* THE WALT DISNEY COMPANY TO ACQUIRE TWENTY-FIRST CENTURY FOX, INC., AFTER SPINOFF OF CERTAIN BUSINESSES, FOR $52.4 BILLION IN STOCK

* WALT DISNEY CO - SHAREHOLDERS OF 21ST CENTURY FOX WILL RECEIVE 0.2745 DISNEY SHARES FOR EACH 21ST CENTURY FOX SHARE THEY HOLD

* WALT DISNEY CO - DISNEY WILL ALSO ASSUME APPROXIMATELY $13.7 BILLION OF NET DEBT OF 21ST CENTURY FOX

* WALT DISNEY - 21ST CENTURY FOX TO SPIN OFF FOX BROADCASTING NETWORK AND STATIONS, FOX NEWS, FOX BUSINESS, FS1, FS2 AND BIG TEN NETWORK TO ITS SHAREHOLDERS

* WALT DISNEY CO - TOTAL TRANSACTION VALUE OF DEAL IS APPROXIMATELY $66.1 BILLION

* WALT DISNEY CO - TRANSACTION TO INCLUDE 21ST CENTURY FOX’S FILM AND TELEVISION STUDIOS, CABLE ENTERTAINMENT NETWORKS AND INTERNATIONAL TV BUSINESSES

* WALT DISNEY CO - BOB IGER AGREED TO CONTINUE AS CHAIRMAN AND CEO OF WALT DISNEY COMPANY THROUGH END OF CALENDAR YEAR 2021

* WALT DISNEY CO - ACQUISITION IS EXPECTED TO YIELD AT LEAST $2 BILLION IN COST SAVINGS FROM EFFICIENCIES REALIZED THROUGH COMBINATION OF BUSINESSES

* WALT DISNEY CO - DEAL EXPECTED TO BE ACCRETIVE TO EARNINGS BEFORE IMPACT OF PURCHASE ACCOUNTING FOR SECOND FISCAL YEAR AFTER CLOSE OF DEAL

* WALT DISNEY CO - 21ST CENTURY FOX REMAINS FULLY COMMITTED TO COMPLETING CURRENT SKY PLC OFFER

* WALT DISNEY - ASSUMING FOX COMPLETES SKY DEAL BEFORE CLOSING DEAL WITH DISNEY, CO WOULD ASSUME OWNERSHIP OF SKY

* WALT DISNEY CO - BOARDS OF DISNEY AND 21ST CENTURY FOX HAVE APPROVED TRANSACTION Source text for Eikon: Further company coverage:

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