Goldman Sachs cashes in over $100m from advising Fox on Disney tie-up
Financial giant Goldman Sachs will cash in over $100m (£75.9m) for its work advising on 21st Century Fox’s recent sale to Disney.
According to a regulatory filing to the Securities and Exchange Commission, Goldman Sachs received $58m for its work with Fox since August 2017 before Disney agreed on a $52.3bn deal to buy Fox in December.
It will take an additional $47bn for providing a bridging loan for the set up of an entity that will house the remainder of Rupert Murdoch’s broadcasting assets including the Fox broadcast network and Fox News.
Disney’s advisers JPMorgan and Guggenheim Partners are both expected to make around $27.5m each in fees, according to the filing.
Read more: Disney gazumps Comcast with revised $71.3bn offer for Fox assets
When the deal is finalised, Disney will own Fox’s movie studio, some of its TV channels, and its stakes in streaming website Hulu, Sky and Endemol Shine.
A spanner was thrown in the works of Disney’s plans to take over Fox earlier this month when Comcast waded in with a superior $65bn offer for the assets.
But Disney quickly replied with an even bigger $71.3bn offer for the firm which could ignite a fierce bidding war for the highly sought after Fox properties.
It’s unclear whether Goldman would make even more money in the event of a lengthy scrap over the assets.
Read more: Fox to make decision on starting negotiations over Comcast takeover