Entertainment Giant Walt Disney (NYSE: DIS) and the Chinese Entertainment Platform for Music Tencent Music (NYSE: TME) make headlines during trading after the trade on Tuesday.
- Walt Disney will complete the acquisition of The Twenty-first Century Fox (NASDAQ: FOXA) (NASDAQ: FOX) in the late evening.
- Tencent Music (TME) showed strong growth in the fourth quarter.
Walt Disney completes acquisition of Fox
In an announcement after the market was closed on Tuesday, Disney said that the acquisition of Twenty-First Century Fox's assets, including the film production businesses, of the television creative Units, Fox's interests in Hulu and more, will be closed tomorrow at 12:02 pm EDT.
"An unprecedented collection of high-quality creative content, outstanding talent and cutting-edge technology will enable Disney to accelerate its direct-to-consumer campaign to expand its consumer strategy and global presence," the company said in its press release.
"This is an exceptional and historic moment for us – a moment that will give our company and our shareholders a significant long-term value. "added Robert Iger, CEO of Disney.
New content and distribution acquired through this merger, will help Disney expand its direct-to-consumer business: ESPN + and its upcoming Disney + streaming service, and management has identified these new streaming platforms as central to the company's evolution into a multiscreen Internet-enabled environment Hulu will also be responsible for the development of Company, as Disney will now have a controlling stake in the streaming TV service.
Tencent Music recorded rapid growth
In its first quarter reported as a listed company The company, Tencent, said that fourth quarter revenue increased by 50.5% to 5.4 billion yuan (RMB), or 785 million USD rose. The Company's net loss for the period was $ 127 million, but was primarily attributable to a one-time, share-based fee of $ 221 million related to the Company's shares in Warner Music Group and Sony Music Entertainment ,
Monthly active mobile users for the company's online music service grew 6.8% year-on-year. Even faster, the number of active monthly users paid increased 39.2% year-on-year. This means that at the end of the quarter, paying users were 27 million or 4% of Tencent's 644 million monthly active mobile users.
The company's monthly active, active social entertainment users or users who have accessed one of the TME singing or live environments. Streaming Services grew 9.1% year-over-year to reach $ 228 million
"In the fourth quarter of 2018, we saw strong growth in our businesses, including online music and social entertainment, and consolidated our market leadership," said the CEO by Tencent Music, Cussion Kar Shun Pang.
Investors apparently had higher expectations for the fourth quarter of TME. The shares fell 7.2% in the trade at 7:30 in the afternoon. EDT.