Tag Archives: 21st Century Fox

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

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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.

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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.

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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.

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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.

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

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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.

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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.

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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.

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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.

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