The stand-alone Fox Corporation business has begun trading Tuesday, March 19, as Fox investors will now have clarity on where to find their ticker.
Fox Corporation shares were trading down 3.25% Monday to $40.17 a share. Twenty-First Century Fox shares, or (FOXA , which Disney will officially own starting Wednesday, March 20, were trading down 3.66% to $40.17 a share Tuesday.
Disney's purchase of Fox assets will officially close at 12 a.m. Wednesday. Disney shares were flat, trading up 0.12% to $113.21 a share Tuesday.
Here's what media assets Fox Corporation investors are getting exposed to when buying the shares:
- Fox Broadcasting
- Fox Sports
- Fox News
Here's what investors are getting exposed to in Disney's stock:
- Fox movie businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000, Twentieth Century Fox Television, FX Productions, and Fox21.
- Key television programs include landmark shows "The Simpsons" and "Modern Family."
As part of the Disney and Fox combination, Disney was required by the U.S. Department of Justice to agree to selling off regional sports network [RSN] assets, so that the deal would not be considered monopolistic. It was recently reported that Disney will sell the YES Network [Yankees Entertainment and Sports Network] to a group of investors including the New York Yankees, Amazon.com (AMZN - Get Report) , Blackstone, and Sinclair Broadcasting (SBGI - Get Report) .
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