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Disney and 21st Century Fox are closing in on a deal that could come as quickly as next week, according to a CNBC report citing sources familiar with the matter.
The transaction would involve Disney acquiring Fox’s studio and television production assets – a portion of the business that has an enterprise value of more than $US60 billion, CNBC’s sources say. Disney dropped on the news.
Elsewhere in deal news:
- CVS made a $US69 billion bet it can become the first place you go when you’re sick
- The big loser in the CVS-Aetna deal already seems pretty clear
- Cineworld is buying Regal Entertainment for $US3.6 billion
- Nestle to buy vitamin maker Atrium Innovations for $US2.3 billion
In Wall Street news, JPMorgan says traders are suffering in the fourth-quarter. Bank of America just told investors that its stock is cheap. Apple’s Venmo killer is finally here – here’s how it works. But Apple will never catch Venmo, according to Credit Suisse.
In markets news, a tug-of-war is raging over control of the stock market. Bitcoin hit another record high as JPMorgan touted its potential as an “emerging asset class.” And Ethereum’s blockchain is jamming up because of a new game that lets people buy virtual cats.
The fight over the Republican tax plan isn’t over – here are the biggest differences between the House and Senate bills. A last-minute change to the Senate tax bill could cause significant problems for companies. And Goldman Sachs doesn’t think the Republican tax bill would be a big boost to the US economy.
Greg Coffey, a star hedge fund manager nicknamed ‘the Wizard of Oz’ who bowed out of the industry in 2012, is said to be eyeing a comeback.