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As cable news begins to feel the squeeze from cord-cutting, arch-rivals Fox News and CNN are stepping up efforts to adapt to the trend that poses a long-term threat to their businesses.
For the first time, Fox News will make its most popular programming available online to consumers who don’t subscribe to cable.
The conservative news network announced Tuesday that its nightly prime-time opinion shows “Tucker Carlson Tonight,” “Hannity” with Sean Hannity and Laura Ingraham’s “The Ingraham Angle” will be available to subscribers of its Fox Nation streaming service starting June 2.
The full episodes will be available on demand at 5 a.m. Eastern the day after they air on Fox News.
Apollo Global Management (NYSE:APO) is making another run at Tabcorp’s betting and media businesses. It is offering nearly $3.1 billion for the Australian company’s sought-after assets, while topping a recently revised bid of $2.7 billion from Entain Plc (OTC:GMVHY).
Ladbrokes signs at an Australian horse race. Owner Entain is getting competition from Apollo in a bid for Tabcorp assets. (Image:
Racing Post)
There are conditions with the Apollo pitch, which is valued at $4 billion in Australian dollars, or $3.09 billion based on current exchange rates.
At that price, the private equity firm wants Tabcorp to include its gaming services unit along with the media and sports-wagering businesses. If the Aussie bookmaker doesn’t want to part with the gaming services enterprise, Apollo, at least for now, is simply matching Entain’s offer for the media and sports betting arms.
Australia: Apollo makes $3.1b bid for Tabcorp’s betting, media units
Sydney, Australia. Photo: Unsplash
May 7, 2021
Private equity major Apollo Global Management has proposed to acquire the wagering and media and gaming services units of Tabcorp Holdings, the largest gambling company in Australia, for a combined value of A$4 billion ($3.1 billion).
In a filing with the Australian Securities Exchange, Tabcorp said, alternatively, Apollo offered to acquire Tabcorp’s wagering and media business alone for a value of A$3.5 billion.
Tabcorp said the revised proposal is subject to numerous conditions, including due diligence, arranging financing, receipt of all relevant regulatory approvals and obtaining various third-party approvals and consents.
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