Bob Iger's $71 billion bet on Fox is all about getting investors to value Disney more like Netflix.
Disney's $71 billion deal for the majority of 21st Century Fox's entertainment assets has closed. It will take years to judge whether Disney CEO Bob Iger spent his company's money wisely, but the benchmark for success should be clear -- make Disney look and trade like Netflix.
Just this week, Netflix CEO Reed Hastings reiterated that his company is more of a media company than a technology company. Disney's forward P/E ratio is 15. Its enterprise value/EBITDA ratio is 11. That's a lot lower than Netflix.
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