FOXA

Twenty-First Century Fox Inc

TMT, Event Driven/Special Sit


Presented:05/17/2018
Price:$37.77
Cap:$70.18B
Current Price:$41.83
Cap:$19.17B

Presented

Date05/17/2018
Price$37.77
Market Cap$70.18B
Ent Value$82.81B
P/E Ratio17.41x
Book Value$10.24
Div Yield0.84%
Shares O/S1,858.00M
Ave Daily Vol8,811,782
Short IntN/A

Current

Price$41.83
Market Cap$19.17B
Twenty-First Century Fox, Inc. is a media company, which engages in television broadcasting and film production. It operates through the following segments: Cable Network Programming; Television; Filmed Entertainment; Direct Broadcast Satellite Television, and Other Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of programming distributed through cable television systems and direct broadcast satellite operators. The Television segment offers broadcasting of network programming. The Filmed Entertainment offers production and acquisition of live-action and animated motion pictures for distribution and licensing in entertainment media. The Direct Broadcast Satellite Television segment involves in the distribution of basic and premium programming services via satellite and broadband directly to subscribers. The Other, Corporate and Eliminations segment comprises of corporate overhead and eliminations. The company was founded in 1979 and is headquartered in New York, NY.

Publicly traded companies mentioned herein: AT&T Inc (T), Comcast Corp (CMCSA), Netflix Inc (NFLX), Sky PLC (SKY LN), Time Warner Inc (TWX), Twenty-First Century Fox Inc (FOX, FOXA), Walt Disney Co/The (DIS)

Highlights

The presenter is long shares of Fox (FOXA), seeing favorable fundamentals for the FOX SpinCo, consisting of its news and broadcast businesses and sports network assets, that will be created as a result of Disney’s planned acquisition of the FOX RemainCo. In addition, he sees the possibility of a competitive bid between Comcast and Disney for the RemainCo, given both companies likely view it as having imperative strategic importance. He thinks SpinCo will trade up to $18 - $19, while the ultimate price of the RemainCo could be $36 - $37; thus, there could be ~50% upside for FOX shares.

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