Tag: 21st Century Fox

The Walt Disney Company's acquisition of 21st Century Fox became effective at 12:02 a.m. Eastern today, March 20.

The Walt Disney Company has appointed Ravi Ahuja as president of business operations and chief financial officer upon the close of the 21st Century Fox acquisition.

21st Century Fox's second-quarter net income surged to $10.8 billion, boosted by the pre-tax gain on the sale of its stake in Sky to Comcast Corporation.

Increased advertising and affiliate revenues were partially offset by lower theatrical revenues at 21st Century Fox, which reported total first quarter revenues of $7.2 billion, a 2-percent increase on the year-ago period, and a higher net profit of $1.3 billion.

Key leadership appointments have been made for the new “Fox,” the company to be spun off from 21st Century Fox in connection with the merger with The Walt Disney Company.

21st Century Fox has invested a combined $100 million into the social broadcast platform Caffeine and a newly formed venture called Caffeine Studios.

Fourth-quarter revenues at 21st Century Fox saw an 18-percent increase to $7.9 billion as net income climbed to $920 million from $476 million in the year-ago period.

At separate meetings today, stockholders of 21st Century Fox and The Walt Disney Company approved all proposals related to Disney's $71.3 billion purchase of the Fox assets.

Comcast Corporation has said it will no longer pursue its bid to acquire assets of 21st Century Fox and instead will focus on its offer for Sky.

The Walt Disney Company and 21st Century Fox have announced an updated merger agreement at the higher price of $38 per share, up from the previously announced $28 per share.