Disney Claims Control of Hulu Ahead of Disney+ Streaming Rollout
Pitchbook data reveals that $9.5 billion was invested across 27 M&A deals in the U.S. last week, 6 fewer deals and $75 billion less capital after outsized M&A activity in the week prior. Two deals – targets Cray and Hulu - were in the billion-dollar range. The Walt-Disney Company acquired full control of Hulu for $5.8 billion, after what once was joint ownership by Disney, 21st Century Fox, Comcast, and Time-Warner.
Last week’s economic news was slightly disappointing, as a number of indicators missed estimates, though jobless claims fell to a 45-year low. Still, given the higher than usual number of states estimating claims, the jobless claims number is a rough estimate.
According to the Federal Reserve’s latest release, industrial production increased 0.2% in November, following an upwardly revised October at 1.2%. Manufacturing production also increased 0.2%, marking it's third consecutive monthly increase. Compared to November 2016, industrial production increased 3.4%. Excluding post-hurricane gains of 3.0% in oil and gas extraction, total industrial production would have been unchanged in November from October. November capacity utilization for the industrial sector was 77.1%, which is 2.8% below the long-term average from 1972 to 2016.