Travel & Entertainment M&A » By The Online Investor Staff, updated Tue., Aug. 9, 3:07 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #20. 21st Century Fox — Majority Stake in YES Network
Acquirer:
21st Century Fox (NASDAQ:FOX)
Acquiree:
Majority Stake in YES Network
Details:
21st Century Fox (NASDAQ:FOX,FOXA) today announced an agreement to acquire a majority stake in the Yankees Entertainment and Sports Network (YES Network), raising its ownership position in the regional sports network to 80 percent from the current 49 percent it acquired in 2012. The YES Network delivers exclusive live local television coverage of New York Yankees baseball and Brooklyn Nets basketball, as well as other Emmy Award-winning local and national sports programming. The acquisition is expected to close by the end of the first calendar quarter, subject to regulatory and other requisite approvals.
Fox is a news, sports and entertainment company. Co. has three segments: Cable Network Programming, which consists of the production and licensing of news and sports content distributed primarily through cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors; Television, which consists of the production, acquisition, marketing and distribution of broadcast network programming and advertising-supported video-on-demand services under the FOX and Tubi brands, respectively; and Other, Corporate and Eliminations, which includes FOX Studio Lot that provides television and film production services.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 20th percentile
(ranked lower than approx. 80% of all stocks covered)
Analysts' Target Price: FOX Stock Forecast Based on Zacks ABR data; powered by Xignite |
