Fox and Disney Announced Exchange Terms Related to Fox Corp. Shares

Date : 19/03/2019 @ 09:19
Source : Dow Jones News
Stock : Fox Corporation (FOX)
Quote : 31.49  -0.095 (-0.30%) @ 08:14
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Fox and Disney Announced Exchange Terms Related to Fox Corp. Shares

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   By Josh Beckerman 
 

Walt Disney Co. (DIS) and 21st Century Fox Inc. (FOX, FOXA) announced share-exchange terms related to the distribution of Fox Corp.'s shares.

Disney's $71.3 billion purchase of entertainment assets encompassing Fox's movie studio is scheduled to close this week. A new company called Fox Corp. will contain assets that include the Fox broadcast network and Fox News Channel.

Fox and Disney said the distribution adjustment multiple will be 1.357190. The companies said 0.263183 of each share of 21st Century Fox share will be exchanged for one third of a Fox Corp. share.

News Corp, which owns Dow Jones, and 21st Century Fox share common ownership.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

March 18, 2019 18:04 ET (22:04 GMT)

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