The Murdoch family has negotiated "a very good swap" in it's £39 billion sale of 21st Century Fox to Disney, according to a leading analyst.
Thursday brought an end to weeks of speculation surrounding the move, but Alice Enders, director of research for Enders Analysis, believes ‘sale’ is the wrong term entirely.
“It’s a swap,” she told TVBEurope. “And arguably a very good one. They’re traded their Fox shares for Disney shares, and will also receive shares in the ‘new Fox’ which includes the Fox News channel, business channel and all the TV assets, which are very profitable.”
Details remain relatively scarce on just how much of a minority stake in Disney the Murdoch family has gained, with reports varying between five and seven per cent.
“It’s clear that in terms of them being the studio wizards, they have moved on,” Enders added. “But they will play a part in Disney via this minority shareholding, which is nevertheless significant. It will allow them to have some form of voice, perhaps a role through James, but we don’t have any of the details around that yet.”
The deal is subject to regulatory clearance in the US and EU, which could delay finalisation until September 2018.