Comcast Plans to Oubid Disney for Fox

Comcast Plans to Oubid Disney for Fox

Revenue increased 9% year-on-year to $14.5bn, driven by gains in the company's film unit. That compares to net income of $2.4 billion ($1.50) for the same period a year earlier. Parks and resorts saw revenues rise 13%.

Disney will report earnings after the bell Tuesday and investors will no doubt be looking for guidance from Iger on the pending deal.

The TV business was hampered by a decline in advertising revenues, lower income from program sales and higher network programming and marketing costs, Disney said.

A handful of notes from Wall Street analysts said Comcast's involvement was likely to push Disney to raise its existing offer. The phenomenal success of Black Panther helped drive total revenue of $14.55 billion, easily beating a Thomson Reuters estimate of $14.11 billion.

According to the WSJ report, Murdoch has told associates that he will not be moving to Disney and will return to venture capital and media investment, areas he was involved in before he took on the top executive roles at his father's media empire. It comes as Disney faces a number of headwinds, including the continued shedding of cable subscribers afflicting its cable and networks division.

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Murdoch agreed to sell USA entertainment assets - though not the highly profitable Fox News Channel - to Disney, rejecting a higher offer for those assets from Comcast.

That includes the launch of ESPN+, a $4.99 monthly online TV service, as well as a multiyear deal to stream live UFC "Fight Night" matches and other programs on the service and across ESPN television, social and digital platforms beginning in January.

That being said, should the Time Warner and AT&T amalgamation pass, pending government approval, of course, in addition to 21st Century Fox, Comcast would also acquire United Kingdom satellite TV provider Sky - which would see the global telecommunications conglomerate's bid reach the $100B mark.

Disney's box office dominance is expected to continue for the rest of 2018. The film from Disney's Marvel Studios has exceeded expectations with $1.3 billion in global ticket sales, making it the ninth-highest grossing film in movie history.

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