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Disney/FOX Acquisition Thread

Again I ask, why do we actively want any of the parks to "hurt"? We should want both resorts to thrive. Competition rewards the consumer.
Because I am a petty, disgruntled, ex visitor to the mouse. What they have done to that place in the name of "thrive" is criminal IMO. It was one of my favorite places to be but now? Unless I am on the deck of the Nomad on a cool day I have n0 desire to visit. Universal on the other hand...... See? I said I am petty....
 
Again I ask, why do we actively want any of the parks to "hurt"? We should want both resorts to thrive. Competition rewards the consumer.

I've been wondering this exact same thing every time someone says that. It's so odd.
 
From a Comcast perspective, putting the "hurt" on the mouse is exactly the aim. As well as the hotels on I-Drive area.
 
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ugh...less than 1% of stockholders so far are accepting Comcast's offer...making me feel this entire thing now was a waste of time
Comcast Extends Deadline For Sky Shareholder Approval | Deadline
That's how this always works until there's only one offer left on the table. Nobody offers their shares before the bidding war is done.

Once there's a clear winner, we'll see everybody pony up their shares for the offer. I'd expect Comcast to get 51%+ of the shares if Disney/Fox drops their bid.

I'd also point out that the current stock price of Sky is above Comcast's offer (and well above Fox's offer). So obviously, why would you offer your shares to Comcast at 14.75 when you can sell them on the market for 15+?

Once the bidding war ends, Sky's stock price will fall below the highest bid and we'll see people offer their stock to Comcast or Disney/Fox.
 
Two things:

First off, Comcast acquistions will continue so we stay on the look out for that....

Brian Roberts

Second, we’ve built the Company by looking at lots and lots and lots of acquisitions. And we’ve done some and we’ve looked at a lot more. And our goal again is to find a way to create -- accelerate what the operating business can do with more shareholder value, whether that was AT&T Broadband, QVC or NBCUniversal or a host of others. And so, yes, we’ve looked at Fox, not because we went looking for it, because it came to market. And I think ultimately, the same with Sky. And I can’t talk more about it other than to say, the notion of that means, you don’t love your core business just isn’t right. We’ve proved that with our results, I hope. And I think that we -- the proof in the pudding is if you bought our stock in 1972, you’d have a 17.5% compounded return for nearly 50 years. If you put that same money in the S&P 500, it would be just over 10%. As you all know, the power of that compounding makes it exponentially believably different of where you’d be. We are all in on shareholder and long-term returns, and yet it’s times in the Company where we felt we had to do deals and there’ve been times in the Company where we felt we were in a strategically great place.

Right now, I feel we’re in a strategically great place and any deals we’re doing we’re trying to play offense in a belief that we over the long term can create exceptional shareholder value. Sometimes that’s hard to prove on day one. Over time, we hope we can do so. And nobody’s got a perfect track record, certainly we don’t. But, the best way to judge us is that long-term stock return, and I think we’re very proud of that.

Brett Feldman

So, it’s basically safe to say that right now you’re thinking about M&A as being something that could be additive to your business not changing.

Brian Roberts

Absolutely, could have just said that and been a lot shorter
......

Brian Roberts
Definitely. We have more television viewing than any other media company when you look at any kind of ratings or viewership share. We have in the last 12 months the number two film studio based on box-office from this time back a year. And every new over-the-top player, every new entrant basically took all of our products. They want it and need it to be -- to have us to be part of their bundle. So, almost any way you measure it, we have a very fluid and relevant seat at the table. Again, if someone puts themselves for sale, we’re going to take a look. Some prices, we’re buyers; in other prices, we pass. And that’s I think my job is to do. But, I don’t feel, as I said earlier, that we need to do anything when. When we bought NBCUniversal, we got a wonderful with scale. The one business that we don’t have in the 2018 results in a meaningful way is animation just in the way things went this year. But as we look to 2019 and 2020, one of the reasons we brought DreamWorks Animation to go along with illumination as increasing our capabilities on what has for us been the most profitable part of the film business, on a sustainable basis.

So, television, yes; film, yes; theme parks are an amazing business for us. We have one competitor. We’re the smallest of those competitors. And many more than just that competitor as you look around the world, but in Orlando in particular and Los Angeles. And we’ve been growing faster than any part of the company. And we’ll have some lumpiness from quarter-to-quarter, but we have a strategy, we’re opening an exciting park in China in a few years, Osaka, Orlando and Hollywood with hotels and a roadmap. So, we really excited about that business, and looking for new attractions and new opportunities.

Additionally, Disney/Fox only have ten more days to up their Sky bid and Sky investors only have until Oct 6 to accept Comcast's offer.

Comcast says Sky shareholders have until October 6 to accept offer | Reuters
 
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Two things:

First off, Comcast acquistions will continue so we stay on the look out for that....



Additionally, Disney/Fox only have ten more days to up their Sky bid and Sky investors only have until Oct 6 to accept Comcast's offer.

Comcast says Sky shareholders have until October 6 to accept offer | Reuters
My understanding of the situation (which may be incorrect since I have no expertise in British law) is that if neither Fox (backed by Disney) nor Comcast makes their offer a "final offer" by Sept. 22, then the British Takeover Panel automatically takes over and forces both sides into a bidding war.

So unless Fox (backed by Disney) changes their offer to a final offer or revokes their offer, then this is automatically going to a forced bidding war.
 
Sky Takeover: Auction Set for Comcast, Fox to Duke It Out – Variety

Auction rules set:
Start time = 5pm London Friday September 21.

End time = Evening London Saturday September 22.


3 rounds of bidding with offers in British pounds:

1st round: Lower bidder as of September 21 at 5pm (Fox right now) gets to choose whether to outbid the Higher bidder (Comcast right now).

2nd round: Then the Higher bidder (Comcast right now) gets to counterbid.

If the Lower bidder (Fox right now) doesn't concede:

3rd round: Both bidders may table final bids and shareholders will get to choose between them (whoever is higher will win).

Either way we'll get resolution to the Sky question by Saturday night...
 
Sky Takeover: Auction Set for Comcast, Fox to Duke It Out – Variety

Auction rules set:
Start time = 5pm London Friday September 21.

End time = Evening London Saturday September 22.


3 rounds of bidding with offers in British pounds:

1st round: Lower bidder as of September 21 at 5pm (Fox right now) gets to choose whether to outbid the Higher bidder (Comcast right now).

2nd round: Then the Higher bidder (Comcast right now) gets to counterbid.

If the Lower bidder (Fox right now) doesn't concede:

3rd round: Both bidders may table final bids and shareholders will get to choose between them (whoever is higher will win).

Either way we'll get resolution to the Sky question by Saturday night...

I agree with everything except the last paragraph. If it goes to the shareholders it will not be resolved by Saturday
 
I agree with everything except the last paragraph. If it goes to the shareholders it will not be resolved by Saturday
True but it's fair to assume that one bidder will place a significantly higher bid in the final round (by significant I mean a difference of 0.10-0.20 pounds).

Whichever bid is higher will win because 1) 90+% of shareholders in that 61% publicly trading will tender to the higher bidder, and 2) likely that the other bidder will just forfeit and withdraw their final bid if its at least 0.10-0.20 pounds below.


My guess is Comcast's final bid will be around 16.75 pounds and Disney's around 16.50 pounds.

If something like that occurs we can assume 90+% of Sky shareholders in the 61% will sell to Comcast.
 
Comcast won in the final round, went quite a bit higher than Disney; the big question that people are asking is whether Disney will sell too (they can choose to tender their 39% at this price):



The bids make it clear just how badly Comcast wanted Sky.
 
Comcast won in the final round, went quite a bit higher than Disney; the big question that people are asking is whether Disney will sell too (they can choose to tender their 39% at this price):



The bids make it clear just how badly Comcast wanted Sky.

wow. not even close. That's a pretty high bid for what it is.
 
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