Why Twenty-First Century Fox and Disney Stock Popped Today
Shares of Twenty-First Century Fox (NASDAQ: FOX)(NASDAQ: FOXA) and The Walt Disney Co. (NYSE: DIS) climbed 6.5% and 2.7%, respectively, on Thursday after Disney announced it would acquire most of Fox's assets in an all-stock deal worth roughly $52.4 billion.
More specifically, Fox will first spin off its Fox Broadcasting network and stations to shareholders, including Fox News, Fox Business Network, sports stations FS1 and FS2, and the Big Ten Network into a newly listed company. Then Disney will acquire the Twentieth Century Fox Film and Television studios, as well as its cable and international TV businesses.
Image source: Disney.
Source: Fool.com
