Fox results fall short as deal to unload entertainment assets looms
By Bloomberg
10 May 2018 |
3:50 pm
Bloomberg Intelligence's Geetha Ranganathan discusses Fox's earnings, its plan to sell about $52 billion of entertainment assets to Disney, and a potential counterbid from Comcast.
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Charlize Theron, Margot Robbie & Nicole Kidman star in Fox News sexual harassment movie
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The Chief Executive of Disney, Bob Iger, has stepped down from the top job at the entertainment giant after fifteen years. It was a surprise move which sees the head of the company's theme parks business, Bob Chapek, take up the role. Iger will stay on as Executive Chairman, where he will focus on the creative element of the business. Also today, we look at some of the latest warnings from businesses on the impact of the coronavirus.
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Walt Disney Co will close its Disneyland and California Adventure theme parks in Anaheim, California, starting on Saturday (March 14) amid the global outbreak of coronavirus, a company spokesperson said in a statement on Thursday.
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The Walt Disney Company has said its profits in the first three months of the year are $1.4 billion lower because of the coronavirus lockdowns in many parts of the world. The company saw a particular slump in income from its theme parks, which have been shut down due to the virus spreading. Also today: more bad news in the travel industry, as the home rental giant Airbnb cuts 25 percent of its workforce. Our Business Editor Stephen Carroll tells us more.
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