They don't have freedom to talk with Comcast. What's more interesting is that both Disney and Comcast might not have a choice but do this. It's not even about cooler heads or logic, it's literally about not being stupid. A counter by Comcast will inflate Sky numbers for an unreasonable amount. Basically, the bidding war will keep going, but the target will be Sky. Disney wins Fox, Comcast wins Sky.
If Disney doesn't bid for Sky again Comcast should take that as a win. Sky is great.
A thought I had today, though-If a bidding war for Sky will ensue does Comcast bidding on Fox actually get the value of Sky higher than it would get anyway?
The more I think about it the more I agree with avaya that Comcast should get a large Telecom company like Vodafone. It just makes sense.
39% of Sky is worth more than 30% of Hulu. It would not be a 1-1 trade.
Why does everyone keep saying this? Kodera the new CEO of Sony , when laying out his plan for the future of the company has said Sony's way forward is as an IP company. In what way does literally selling off ip (film and TV) division help with that?
Agreed completely. Like I've said, I do see a bidding war coming, but not for Fox any longer. And those thinking that the numbers won't be nuts haven't realized how much both Disney and Comcast want Sky.
I also agree with this but once again I think the price for Sky will exceed the floor set through the Fox purchase, so Comcast may seek to further increase the price of Fox to Disney in order to price Disney out of outbidding Comcast on Sky. I really hope I’m wrong because I’m ready for the Fox deal to be finished, but I could see this motivating Comcast to make at least one more bid on Fox knowing how committed to it Disney is.
They'll sell Sony Pictures if the price is right I'd imagine.
I'd imagine Disney/Marvel would (providing this were to happen a few years from now and Disney balances their debt properly) attempt to negotiate for the Spider-Man film rights again just to make sure everything Marvel is in house again.
Technically anything in the world is for sale at the right price, but I get what you're saying. Speculation game, considering that sony has said the cornerstone of their company going forward is IP, what's a price that would get them to sell?
I expect one more bid from Comcast, so they can disrupt Disney as much as they can. I truly believe that Disney would've entered a bidding war for Sky if the number for FOX current number was still at 52 Billion, but now that they're in the $70s-$80s for FOX? Bob Iger & Kevin Mayer are probably like "nah, we'd just take Star India though".
Would Comcast have to bring something else to the table or does Disney just take Comcast’s Hulu share and call it a day
not Kodera :) Kodera is CEO of SIE. The new CEO of Sony is Kenichiro Yoshida
Comcast dosn't have the capital and isn't big enough to form a new counter. They had to borrow the money they countered the first time. What private entity would help them against DIS of all companies. Plus still no stock option which would save on taxes. If they were to up their bid anymore it'll hurt the bottomline.
This is what is happening. Was in NYC last week for a conference, prevailing view now is that Comcast have come to their senses and have settled on Sky with a view to buying something much larger in Europe down the line. Which is the sensible strategy. They would be acquiring significant FCF that way in addition to much greater control of distribution. Outside chance at the moment for Disney is that Roberts has been making feelers our to PE funds if they want to get involved in breaking up Fox. Comcast doesn't want the studios business at all.
So will we hear something official about comcast withdrawing its fox bid and turning its attention to Sky? Or do you think theyll quietly fade into the background again.
At 31B (which will probably go up if Fox closes at 71B given what's happening), the 39% is worth 12B. Let's go with that number.
Thanks for the explanation, I completely forgot about Hulk
Wait they have the Spider-Man Japanese Theme Park rights? Holy shit, Universal lucked out before the Disney buyout.
Yoshida is the new CEO.
Thanks for the insight! What do you think about the domestic market, though?
So if you think the media stuff is actually about advertising and data then Verizon went a very different route via AOL and Go90. The latter is shuttered now, but with Vestberg now CEO it kinda feels like they have the wrong guy in place to manage a more aggressive M&A strategy. I was almost certain Ronan Dunne would end up with the top job since he was brought in from O2 UK to run Wireless, where he was very successful. Verizon Charter or Verizon Comcast has a similar impact, the problem is Malone is very difficult to buy assets from, he never cedes on valuation so he will make Charter difficult.
I had thought Verizon would have gone with Stratton as their next CEO, who seemed he was fully invested in the belief that content is the future of the Company and was a champion of Oath. I don't know much about Vestberg, but it makes me doubt they will really pursue anything aggressive in the upcoming time frame, but happy to be surprised.
It's the weekend and next week is USA's biggest national holiday. I think the next "big news" will be that Comcast will officially bid for Sky in the UK. They still haven't made the official proper offer, they have up until July 13th for that.
I had no idea about this. What gives them that deadline? Hopefully they will indicate their position on the Fox bid when announcing an official Sky bid to give a little clarity on things.
Much appreciated thanks for sharing (and always providing relevant updates to this thread). It will be interesting to see what happens in the next couple of weeks.
Just trying to help, haha. I think the pathway is clear to Disney getting Fox and a bidding war to ensue for Sky.
This is just the start. Net neutrality gutted, incomes the price gouging. This is mobile even though it's piggyback off Verizon, but take everyone in here who said Comcast can't be trusted because them owning it as an ISP and owning a huge share of IPs and content would just pay wall it off
Does the ends justify the means? Is it okay that this might have gone through faster for Disney-Fox because Trump likes Murdoch and dislikes Time Warner?
It would not surprise me, DOJ probably hated the thought of Comcast getting bigger.
I'm actually wondering if it's the inverse.
Guess I should say no one rational, as Kree pointed out.
I swear "But Disney Monopoly" sounded like the next "But her e-mails"
