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Disney to Acquire Fox Family Worldwide for 3 Billion
Disney announces the cash purchase of Fox Family Worldwide for 3 billion, assuming 2.3 billion in debt. The deal adds ABC Family, ESPN and Lifetime stakes, with Fox Family Channel to be renamed ABC Family and reach about 81 million US cable subscribers. News Corp and Saban Entertainment each owned 49.5 percent. Saban pressed News Corp to buy out its stake.
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OS Angeles
Walt Disney Co
Fox Family Worldwide Inc
Disney
ESPN
Disney Channel
A&e
Lifetime
Fox Family Channel
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United States
Fox Family
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Saban Entertainment Inc
Saban
Michael Eisner
Rupert Murdoch
Haim Saban
Eisner
Directv
General Motors
Hughes Electronics
Capital Cities
ABC
Fox Kids Europe
Robert A. Iger
Fox Family Worldwide
Michael D. Eisner
Walt Disney Company
Pasadena
Cali
Stocks Slide on Wall Street as Earnings Warnings Rise
The Dow fell 152.23 to 10,424.42 as investors awaited signs of profit warnings amid slowing economy. Nasdaq dropped 40.81 to 1,988.56 and S&P 500 declined 19.82 to 1,191.03 with Lexmark and Goodyear among big losers after mixed quarterly results. Analysts doubt lasting moves, eyeing fourth quarter where profits may look better versus weak year prior.
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