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OFFON

FOX CORPORATION

(FOXA)
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Mexican regulator rejects delaying deadline for Fox Sports sale in Disney-Fox deal

05/06/2021 | 09:00pm EDT
The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles

MEXICO CITY (Reuters) - Mexico's telecoms regulator said on Thursday it has rejected a request to push back a deadline for the sale of Fox Sports in Mexico as part of the terms of Walt Disney Co's acquisition of Twenty-First Century Fox Inc film and television assets.

The Federal Telecommunications Institute (IFT) said the request was made by Disney and Fox and that the deadline for the sale is May 7.

The deadline had been previously postponed for selling the Fox Sports channels because of the difficulty of completing the sale during the coronavirus pandemic.

The IFT said that the "conditions prompted by the COVID-19 pandemic, which previously affected the sale process, today are different ... so extending the suspension period for the sale is not justified."

The IFT in 2019 approved Disney's $71 billion purchase of Fox's film and television assets, subject to the sale of Fox Sports channels, due to the "considerable" accumulation of market power the acquisition would create.

(Reporting by Noe Torres and Anthony Esposito; editing by Grant McCool)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FOX CORPORATION 1.29% 37.63 Delayed Quote.29.22%
GRUPO TELEVISA, S.A.B. 0.30% 56.46 End-of-day quote.72.45%
WALT DISNEY COMPANY (THE) -1.28% 172.42 Delayed Quote.-4.84%
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Financials (USD)
Sales 2021 12 775 M - -
Net income 2021 2 242 M - -
Net Debt 2021 2 186 M - -
P/E ratio 2021 10,1x
Yield 2021 1,56%
Capitalization 21 365 M 21 365 M -
EV / Sales 2021 1,84x
EV / Sales 2022 1,73x
Nbr of Employees 9 000
Free-Float 81,2%
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Technical analysis trends FOX CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 41,64 $
Last Close Price 37,63 $
Spread / Highest target 43,5%
Spread / Average Target 10,6%
Spread / Lowest Target -20,3%
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Managers and Directors
NameTitle
Lachlan Keith Murdoch Co-Chairman & Chief Executive Officer
Steven Silvester Tomsic Chief Financial Officer
Keith Rupert Murdoch Co-Chairman
Paul Cheesbrough Chief Technology Officer & President-Digital
Yoel Flohr Executive Vice President-Technology & Digital
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