Iger Asked To Stay Disney CEO After Making Fox Deal

Esequiel Farfan
Diciembre 8, 2017

Disney chief Bob Iger might not be done just yet.

The deal, which would include Fox's movie assets and part of its TV assets, could be sealed as soon as next week, according to reports by CNBC.

The potential sale comes as Mr Murdoch struggles to finalise an £11.7bn deal to buy the 61pc of Sky that Fox does not already own after Culture Secretary Karen Bradley referred the acquisition to Britain's competition watchdog for an in-depth investigation. After that, Disney meant to keep Iger on as a consultant for three years, for which Iger will receive a quarterly fee of $500,000 for each of the first eight quarters during the consulting period and $250,000 for each of the last four quarters.

However, things have since changed, with Disney believed to be close to a deal worth between US$60 billion and US$70 billion for the entertainment assets of Fox, minus the broadcast, news and sports networks.

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Disney is in the lead to acquire much of Fox's media empire, though rival suitor Comcast Corp remains in contention, Reuters reported on Tuesday.

Apparently, Fox is looking to sell off its film and TV studios, the FX family of networks, the National Geographic TV branch, its 30 percent stake in Hulu, and some worldwide TV networks.

Jefferies analyst John Janedis estimates the deal would cost Disney about $78 billion and that the company would nearly entirely finance the deal with equity. A key difference in the most recent reports are DIS's interest in the RSNs which we value at $18B (9.0x F19E EBITDA).

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