Disney Makes $52.4 Billion Deal for 21st Century Fox
Disney is buying 21st Century Fox assets for just over $52 Billion dollars in stock. Axios Media Reporter Sara Fischer breaks down what this deal means for the future of media consolidation.
Fischer says Disney has been trying to figure out how it can scale to compete against Netflix in the streaming service space. This deal will give Disney ownership of Fox's 30 percent stake in Hulu. It is worth noting this deal isn't quite complete, as it still awaits regulatory approval from the Department from Justice.
Recently, the DOJ sued to block the merger between AT&T and Time Warner. Fischer says Disney and Fox executive say this deal doesn't pose the same type of anti-competition problems as AT&T and Time Warner because they don't have a broadband service that reaches consumers directly. But Disney's pending stake in Hulu could give the mouse house favorable content access.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
