9 Jan

From 21st Century Fox to Fox Corporation

WRITTEN BY Ruchi Gupta

Fox Corporation to trade two classes of stock

21st Century Fox (FOX) recently filed a registration statement with the US Securities and Exchange Commission for Fox Corporation, the new entity that will take its place upon the closing of the Walt Disney Company (DIS) transaction. Disney agreed to purchase most of 21st Century Fox’s entertainment assets for $71.3 billion in cash and stock following a bidding war with Comcast (CMCSA), which also sought to purchase the assets.

Fox Corporation wants to have two classes of stock that will trade on the NASDAQ Global Select Market.

From 21st Century Fox to Fox Corporation

Focus on news and sports programming

Fox Corporation will primarily focus on news and sports programming, but the company suffered a blow after Comcast trounced it in the contest to acquire European broadcaster Sky, which owns the rights to lucrative sports events in Europe.

Sports programming has emerged as an area of interest for Internet companies such as Amazon (AMZN) and Facebook (FB), which have in recent months acquired the broadcasting rights to various high-profile sports. Facebook, for instance, owns the rights to broadcast Spain’s La Liga soccer matches.

Fox’s revenue rose 2.0%

Fox Corporation’s focus on news and sports programming will likely keep it off of Netflix (NFLX), a major disruptor of the traditional media industry. The leading video streaming company, which boasts more than 130 million paying subscribers worldwide, has so far given news and sports programming a wide berth.

21st Century Fox generated $7.2 billion in revenue in its first quarter of fiscal 2019, which ended in September 2018. Its revenue rose 2.0% year-over-year in the quarter.

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.