Top executives from Fox Corp. and Roku say Fox’s $22 billion acquisition of the streaming giant is a win-win transaction, but Wall Street appears to have reservations. Fox shares fell 18% in the first hour of trading Monday after the deal was announced, a sharper-than-usual haircut for a company making a major acquisition. Roku stock […]

Roku shares rocketed to a 4-year high on Friday after word emerged that the streaming company is in talks to sell itself to an unnamed media company. The stock surged 20% to close at $143.66, rising another fraction in after-hours trading, after Bloomberg reported that a media company had held acquisition talks with Roku. Reuters […]

Most of the senior corporate management team at local TV giant Tegna has left the company as the legal battle over its merger with rival Nexstar continues. One of the leadership moves – Fox stations vet Patrick Paolini’s start on Monday as CEO, succeeding Mike Steib – was reported earlier this week by Deadline. Other […]

Nexstar has fired back at a lawsuit filed by DirecTV and attorneys general of several states aiming to derail the local TV giant’s $6.2 billion merger with rival Tegna. In a request for an expedited appeal filed with the Ninth Circuit on Wednesday evening, the company called a federal judge’s preliminary injunction in April that […]

Deal still under UK scrutiny with new investigation, and could face lawsuit from state attorneys general

Donald Trump’s Department of Justice has decided to approve the $111bn merger of Paramount Skydance, controlled by the Ellison family, and Warner Bros Discovery, the parent company of networks like CNN and HBO.

The deal was approved by the justice department’s anti-trust division after months of review, and despite the concerns of many people in the entertainment and media industries who believe it will hurt competition by reducing the number of film studios and – most likely – merging two news networks, Paramount’s CBS News and CNN.

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© Composite: The Hollywood Reporter via Getty Images, Zuffa LLC

© Composite: The Hollywood Reporter via Getty Images, Zuffa LLC

© Composite: The Hollywood Reporter via Getty Images, Zuffa LLC

ABF’s bakeries arm would be likely to exit the market entirely if the deal did not proceed, CMA finds

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A £75m deal for the owner of Kingsmill to buy Hovis to create the UK’s biggest bread brand has been cleared by the competition watchdog.

The Competition and Markets Authority (CMA) ruled that Associated British Foods’ proposed takeover of Hovis did not raise competition concerns because if the deal did not go ahead “the most likely outcome” would be ABF’s bakeries arm leaving the UK market entirely.

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© Illustration: Premier Foods/PA

© Illustration: Premier Foods/PA

© Illustration: Premier Foods/PA