The Malta Independent 18 April 2019, Thursday

21st Century Fox is owned by Disney

Wednesday, 20 March 2019, 10:37 Last update: about 29 days ago

European markets finished broadly higher on Tuesday with shares in Germany leading the region. The Stoxx Europe 600 added 0.57% to 384.29. The U.K.’s FTSE 100 climbed by 0.34% to 7,324.00, while The DAX is up 1.13% to close at 11,788.41. France’s CAC 40 gained 0.24% to 5,425.90.

U.S. stocks closed mostly lower Tuesday, with the Dow Jones Industrial Average snapping a four-day winning streak, as investors tried to make sense of a pair of conflicting reports on U.S.-China trade talks. The Dow Jones Industrial Average shed 0.1%, to 25,887.38, while the S&P 500 slipped 0.01% 2,832.57. The Nasdaq Composite Index rose 0.1%, to 7,723.95.

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The Maltese market was closed on the 19th of March due to a Public Holiday – St. Joseph’s Day.

Two of Germany's largest lenders announced they had entered merger talks to explore tie-up options following months of external speculation

German rivals Deutsche Bank and Commerzbank confirmed formal merger talks after the German government expressed its support for the potential tie-up. The announcement came after the German executive indicated it would not object to necessary cost cuts or job losses resulting from the potential tie-up. Under the deal, the merger bank would have around €1.8trn in assets and a market value of $25bn becoming the second largest bank in Europe after HSBC. Deutsche Bank confirmed the discussions and said the bank's board was "reviewing its strategic options". Commerzbank also confirmed the talks.

Disney and Fox’s merger is officially complete

Back in November 2017 the first news leaked revealed the Walt Disney Company had been in talks with Fox to purchase the company's film and cable television divisions. It was massive news from both a business and entertainment standpoint. Over the next few weeks, the potential merger seemed to become more and more likely. It was only a month later that the two sides came to agreement. A year after the deal was struck, the respective shareholders of the two companies approved the merger. Now it's official. 21st Century Fox is part of the Walt Disney Company. Nothing will ever be the same again.

The merger went through at 12:02 am ET, giving Disney full control over a number of 21st Century Fox entities including the company’s entire movie studio division, its 30 percent stake in streaming service Hulu, and the Fox Television Group. The acquisition received final approval from antitrust regulators around the world in recent months. Despite the acquisition, Fox Corp. will retain its independence, and entities like Fox News and Fox Sports in the United States.

 

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

 

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