AGL 41.00 Increased By ▲ 2.46 (6.38%)
AIRLINK 127.51 Decreased By ▼ -1.99 (-1.54%)
BOP 6.25 Increased By ▲ 0.64 (11.41%)
CNERGY 4.12 Increased By ▲ 0.26 (6.74%)
DCL 8.40 Decreased By ▼ -0.33 (-3.78%)
DFML 40.50 Decreased By ▼ -1.26 (-3.02%)
DGKC 87.79 Decreased By ▼ -0.51 (-0.58%)
FCCL 33.97 Decreased By ▼ -1.03 (-2.94%)
FFBL 66.27 Decreased By ▼ -1.08 (-1.6%)
FFL 10.55 Decreased By ▼ -0.06 (-0.57%)
HUBC 108.50 Decreased By ▼ -0.26 (-0.24%)
HUMNL 14.50 Decreased By ▼ -0.16 (-1.09%)
KEL 4.67 Decreased By ▼ -0.08 (-1.68%)
KOSM 7.29 Increased By ▲ 0.34 (4.89%)
MLCF 42.74 Increased By ▲ 1.09 (2.62%)
NBP 60.50 Increased By ▲ 0.90 (1.51%)
OGDC 179.00 Decreased By ▼ -4.00 (-2.19%)
PAEL 25.70 Decreased By ▼ -0.55 (-2.1%)
PIBTL 6.07 Increased By ▲ 0.10 (1.68%)
PPL 146.50 Decreased By ▼ -0.20 (-0.14%)
PRL 24.85 Increased By ▲ 1.24 (5.25%)
PTC 16.10 Decreased By ▼ -0.46 (-2.78%)
SEARL 70.25 Increased By ▲ 1.95 (2.86%)
TELE 7.23 No Change ▼ 0.00 (0%)
TOMCL 36.15 Increased By ▲ 0.20 (0.56%)
TPLP 7.84 Decreased By ▼ -0.01 (-0.13%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.30 Decreased By ▼ -0.15 (-0.3%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,793 Decreased By -12.8 (-0.13%)
BR30 29,604 Decreased By -74.4 (-0.25%)
KSE100 92,134 Decreased By -170.4 (-0.18%)
KSE30 28,712 Decreased By -128 (-0.44%)

Walt Disney Co. and 21st Century Fox shares were in the spotlight Wednesday amid reports the two media-entertainment powerhouses were readying a major deal for some of Fox's prized television and film assets. Some reports said the deal - in which Disney would acquire the famed Fox Hollywood studios and key television operations of the Murdoch family-controlled group - could be announced as soon as Thursday.
Fox shares were down 3.6 percent at $32.87 in mid-morning trade, in a pullback after sharp gains over the past few weeks. Disney shares were nearly unchanged at $107.40. According to CNBC television and The Financial Times. Disney is expected to pay $60 billion for the assets. CNBC said the deal would give Fox shareholders 25 percent of an expanded Disney empire.
Disney is believed to be bidding for the Fox studios known for their film and television productions as well as the cable channels FX and National Geographic, plus the company's 39 percent stake in British-based pay TV group Sky. The deal would likely shrink the empire created by billionaire Rupert Murdoch, and controlled by him and his two sons, leaving the Fox broadcast network, Fox News and sports cable channels.
The tie-up is seen as a response to the shifting landscape in the media-entertainment sector disrupted by streaming giants such as Netflix and Amazon. The plan could nonetheless face scrutiny from antitrust regulators because it could concentrate power in the Hollywood studios - and potentially in broadcast sports.
Analyst Brian Wieser of Pivotal Research said a reduced Fox "may lose scale and related efficiencies with the transaction, (but) may benefit from focus, financial leverage and changes to US media ownership rules." In a research note, Wieser said that "international exposure is likely positive for Disney (and) the loss of international exposure is negative for Fox."

Comments

Comments are closed.