Disney announced today it will buy some of the assets of 21st Century Fox for $52.4 billion in stock. That includes Fox’s film and television studio and its international and cable TV businesses. Disney will also take on about $13.7 billion in debt. Shares of Fox are up 0.75% $32.80 a share. The deal could help Disney become a player video-streaming as well as power up the company’s television business. The Fox Network and channels will be listed in a separate company.
The preliminary readings for manufacturing and services activity went different directions in December. The flash U.S. manufacturing Purchasing Managers Index rose to 55 from 53.9 in November, while services fell to 52.4 from 54.5.
Freddie Mac reports mortgage rates held steady this week. The 30-year fixed-rate mortgage averaged 3.93% this week, down from last week’s 3.94%. A year ago it was 4.16%. The 15-year was unchanged at 3.36%. A year ago it was 3.37%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
