Business
Plane and simple: Airbus is still out-delivering Boeing

Plane and simple: Airbus is still out-delivering Boeing

2/15/24 7:00PM

Higher plane

Airbus flew further ahead of Boeing last year for commercial aircraft deliveries, reporting 735 plane shipments and receiving a record 2,094 net orders; its closest rival in the air space, on the other hand, delivered just 528 units, with the plane-maker still suffering from a string of incidents involving its flagship Max models — not least the recent mid-air cabin panel blow out in January.

To compound Boeing’s woes, Airbus also forecast 800 deliveries in 2024: almost certainly enough to see it retain the top manufacturer spot for the 6th consecutive year, after the fatal 737 Max crashes of 2018 and 2019 saw the Boeing jets grounded worldwide for 20 months and orders wane.

Turbulence

Even though the European aviation giant is extending its lead over its American counterpart, the skies haven’t been completely clear for Airbus either. Indeed, CEO Guillaume Faury described the company’s supply chain as a “world of bottlenecks”, suggesting that Airbus might struggle making headway on its mounting backlog of ~8,600 commercial aircraft orders for some time.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

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