Disney Acquires 20th Century Fox, Net Neutrality Will Likely Be Repealed Today, and More Bitcoin News
David Royse | LedeTree
Disney hasn’t been a Mickey Mouse operation for a long time. Today, it branches out even more. A decision in Washington could decide how fast Disney and other streaming services can deliver their products to you as the FCC is expected to repeal net neutrality rules. And, more on Bitcoin in today’s LedeTree Eye on Business News
BIG NATIONAL STORY
If you missed it this morning, Disney announced this morning that it will acquire most of 21st Century Fox, a deal aimed at helping Disney challenge Netflix and Amazon in the market for streaming entertainment. It gives Disney a stronger content portfolio as it plans to move heavily into streaming services. Disney has already announced it plans to offer an ESPN-branded sports streaming service, and has plans for an entertainment-based streaming service that is being considered a potential rival to Netflix. The overall deal is valued at $66 billion. The deal doesn’t include Fox News or a few other Fox TV properties. The agreement will be subject to approval of antitrust regulators. The New York Times hit up high in its story on the need for Disney, an old media company, to modernize as it faces a new landscape of viewers who are getting their entertainment in new ways. “It is the biggest counterattack from a traditional media company against the tech giants that have aggressively moved into the entertainment business,” the Times said.
Here’s the New York Times Disney story
More from CNET
The Federal Communications Commission is expected today to vote to repeal net neutrality rules that have prohibited internet service providers from slowing down some websites or charging more to give some sites fasting loader speeds, thereby choosing winners and losers on the internet. Several broadband companies have said they don’t have any immediate plans to give any websites priority over others in terms of web speed, but the issue has generated widespread and vigorous protest from consumers who don’t want internet companies to be allowed to act as gatekeepers determining which sites are viable and which aren’t. Smaller and newer internet companies have much to lose if the rules change. They fear an Internet where the biggest sites like Facebook Google and Amazon have fast download speeds, while many smaller sites will be slow and then die off. Opponents also fear that internet providers will charge customers more for packages that include websites they’ll allow to have fast internet speeds, while cheaper internet service would only allow access to slower service. The FCC is widely expected to vote to repeal the rules today. Opponents are expected to follow that up with a lawsuit seeking to block the rules from changing.
Meanwhile, in another sign that cryptocurrencies like Bitcoin and Ethereum are on the verge of going mainstream, the company that makes cryptocurrency wallets for businesses so they can use them, just got a major round of funding support. BitGo announced it has closed a $42.5 million funding round. More from Coindesk
Also from the Bitcoin world:
And, as we reported last night, somebody wants to sell you a Miami condo for 33 Bitcoin
Thanks for reading, and have a good Thursday