Verizon Mulls Deal For Walt Disney

Walt Disney shares rose nearly 2% on Monday after the New York Post reported that Verizon Communications was eyeing a deal to acquire the company.

Disney stock closed the day up 1.1% to $107.46. Verizon was up 0.8% to $45.00. 

In June, Verizon completed a revised acquisition of Yahoo for $4.48 billion. In May, the communications company hinted that more acquisitions were coming.

In 2015, Verizon bought AOL for $4.4 billion. In 2016, AOL had $2.9 billion in revenue, while Yahoo had $5.1 billion in revenue.

A report early in June also noted that Verizon offered $100 billion for Charter Communications — a deal the cable operator rejected. Verizon may be switching its focus to major TV/movie content companies.

Its main competitor — AT&T— has a pending deal to buy Time Warner, valued at $85.4 billion.

The market capitalization of Walt Disney stock was valued at $166.3 billion at the close of the market on Monday. Verizon was valued at $182.2 billion.



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