Fox and Disney Announced Exchange Terms Related to Fox Corp. Shares
March 18 2019 - 06:19PM
Dow Jones News
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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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