Comcast targeting Sky control in Fox deal

Comcast targeting Sky control in Fox deal

Iger, 66, who has already extended his term Disney several times, is now set to retired in 2019.

It is expected that the deal could take about a year to go through the regulatory process.

Disney chief Bob Iger might not be done just yet. After that, Disney meant to keep Iger on as a consultant for three years, for which Iger will receive a quarterly fee of $500,000 for each of the first eight quarters during the consulting period and $250,000 for each of the last four quarters.

Iger has been leading Disney as CEO and chairman since 2005, but recently confirmed a plan to step down in 2019.

Some of the assets that would be acquired in the deal include National Geographic, various sports networks, stakes in Sky and Hulu and of course, Fox's film division.

Fox-owner Rupert Murdoch and his family are favouring a transaction with Disney over Comcast because regulators would be more likely to clear the deal and they would rather be paid in Disney stock, sources told Reuters.

Citing a source familiar with the matter, Bloomberg reports Comcast is interested in Fox's 39 percent stake in Sky, despite strong competition from rival bidder Walt Disney Co. But a deal could be announced as soon as next week.

"We assume DIS would pay ~$78B (equivalent to ~$42/shr), incl. the assumption of $12B in net debt, for almost $5.5B of EBITDA as well as FOXA's unconsolidated assets (SKY, Hulu)".

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