Diamonds and Dogs
Crazy like a fox. Twenty-First Century Fox (FOXA) is up nearly 3% not far from a 52 week high after China received unconditional approval to allow Disney to buy Fox's film and television assets for $71.3 billion. Disney received approval from European Commission earlier this month. A deal could be completed as early as spring 2019. The deal will give Disney Fox's movie studios, networks National Geographic and FX, Star TV, and stakes in Sky, Endemol Shine Group and Hulu, as well as regional sports networks. Disney is trading up a percent.
A tough year just got tougher at Nissan (NSANY). The Japanese auto company is down 7% to a three year low after their Chairman was arrested for allegations of financial misconduct. 2018 hasn't been a great year for the auto industry as slowing demand, trade tariffs and rising commodity prices have crimped sales and profits. Now Nissan has to find a new Chairman who has been accused of basically fraud for misrepresenting compensation amounts to the Tokyo Stock Exchange and personal use of company assets.