Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Feb. 3, 10:56 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 other digital platforms, primarily in the U.S.; Television, which produces, acquires, markets and distributes programming through the FOX broadcast network, AVOD service TUBI, 29 full power broadcast television stations, including duopolies, and other digital platforms; 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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Strong Buy (4.00 out of 4) 91st percentile
(ranked higher than approx. 91% of all stocks covered)
Analysts' Target Price: FOX Stock Forecast Based on Zacks ABR data; powered by Xignite |
