FOXA - Twenty-First Century Fox Inc

[dabuff]

Berkshire disclosed a new holding, albeit relatively small. Does anyone think this is a Weschler holding?

[gfp]

Certainly either a Weschler holding or a Combs holding.  Much too small to be a disclosed Buffett idea.

[boilermaker75]

For the trailing twelve months FOXA has "other income" of $5,048 million, which appears to be non-cash. Does anyone know what this is or how I can go about finding out?

TIA,

Boiler

[Tim Eriksen]

For the trailing twelve months FOXA has "other income" of $5,048 million, which appears to be non-cash. Does anyone know what this is or how I can go about finding out?

TIA,

Boiler

It is clearly detailed in the 10-Q that it is from the sale of Sky Italia and Sky Deutschland. 

[Phaceliacapital]

It's from selling Sky It & Ge to Sky.

They still own 40% of Sky itself.

[Schwab711]

I like the Fox Sports package for its potential. They have some premium niche programming with Fox Sports, Fox News, 20th Century Fox (maybe it's 21st now judging by name), Simpsons, and what seems like a near-monopoly on Australian-based programming. I definitely think earnings power could be much higher than current earnings in a few years as the streaming/bundling mess plays out. This is probably not the case for nearly all over content producers other than DIS.

With the presidential election near you could see some serious revenue growth over the next year. Anyone playing broadcasters for election reasons? You could probably find some with heavy concentration in swing-states to take further advantage of the boost.

[boilermaker75]

For the trailing twelve months FOXA has "other income" of $5,048 million, which appears to be non-cash. Does anyone know what this is or how I can go about finding out?

TIA,

Boiler

It is clearly detailed in the 10-Q that it is from the sale of Sky Italia and Sky Deutschland.

Thanks, I have been looking at the 10-ks, but I didn't think about looking at the 10-Q for something that has occurred since the last 10-k. It should have been an obvious thing to do. Thanks again.

[silverhawk]

I like the Fox Sports package for its potential. They have some premium niche programming with Fox Sports, Fox News, 20th Century Fox (maybe it's 21st now judging by name), Simpsons, and what seems like a near-monopoly on Australian-based programming. I definitely think earnings power could be much higher than current earnings in a few years as the streaming/bundling mess plays out. This is probably not the case for nearly all over content producers other than DIS.

With the presidential election near you could see some serious revenue growth over the next year. Anyone playing broadcasters for election reasons? You could probably find some with heavy concentration in swing-states to take further advantage of the boost.

A lot of things to unpack in Fox.  In terms of the Simpsons, did a related party transaction a year ago to launch an extension of the FX brand - FXX for $750mm that was just a transfer of value between divisions.  Fox and News Corp split in 2013 and News Corp got most of the australian assets - foxtel / fox sports australia.  Advertising as a percentage of revenue should decrease over time as the company grows its affiliate and retransmission revenue.  The majority of political spend is on local television networks which Fox owns a nice portfolio but lift likely to be a delta of 2% for advertising.

[loganc]

Thoughts on this investment with Chase Carey presumably leaving along with Rupert Murdoch?  I have been eyeing FOX for a while and really like the assets, but I had considered Carey to be de facto CEO and assumed he would be staying at the company for quite some time. 

It is also interesting to consider the potential for ValueAct to have more of an impact at the company, given the capital they have raised from paring their VRX position.  Would they be pushing to keep Carey?  I can't imagine finding a much better person to have running the company.

[thefatbaboon]

Thoughts on this investment with Chase Carey presumably leaving along with Rupert Murdoch?  I have been eyeing FOX for a while and really like the assets, but I had considered Carey to be de facto CEO and assumed he would be staying at the company for quite some time. 

It is also interesting to consider the potential for ValueAct to have more of an impact at the company, given the capital they have raised from paring their VRX position.  Would they be pushing to keep Carey?  I can't imagine finding a much better person to have running the company.

Best mustache around