Dec 14, 2017

Opening Quote: Disney-Fox fairytale; ‘Spectacular’ Sports Direct; Ocado

Under the terms of the all-share deal, this will deliver the Murdochs, who own 39 per cent of Fox, an equity stake in Disney of less than 5 per cent, according to people briefed on the negotiations. Mr Murdoch and his family will continue to control News Corp, owner of the Wall Street Journal, The Sun and The Times newspapers, as well as the remaining assets of Fox, which include a broadcast network, Fox News Channel and sports cable network. In the 14 weeks to December 3, it said retail revenue was up 11.6 per cent to £374m, average orders per week were 11.1 per cent higher at 280,000, and average order size was largely flat at £106. Ocado has been increasing the grocery picking capacity at its state-of-the-art customer fulfilment centre in Andover, and has increased the number of orders processed there by 50 per cent in the space of 14 weeks. Mike Ashley, chief executive of Sports Direct has hailed a "Spectacular trading performance", which appears to have delivered a 67.3 per cent drop in reported half-year profit.

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