Entertainment giant Walt Disney has announced the sale of its Miramax film division for about $660m to a group of private equity investors.

The investors, Filmyard, includes construction magnate Ron Tutor and investment firm Colony Capital.
Disney has been negotiating with potential buyers for months to sell the division, which has made films such as Pulp Fiction and Shakespeare in Love.
Earlier this week, Disney bought the social gaming developer Playdom.
"Although we are very proud of Miramax's many accomplishments, our current strategy for Walt Disney Studios is to focus on the development of great motion pictures under the Disney, Pixar and Marvel brands," Disney's chief executive Robert Iger said.
Disney wants to concentrate on these family-orientated divisions, which produce popular films such as Toy Story, that also come with highly profitable merchandising opportunities.
"Disney has been very smart with its film strategy," media analyst Theresa Wise told BBC World Business Report.
"One of the big issues with movies is very few films break even... so they need other revenues. Disney has the fantastic ability to sell family films and all the merchandise that goes with it.
Disney has owned Miramax since 1993 when it bought the firm from Hollywood heavyweights Harvey and Bob Weinstein.
The Weinstein brothers, who recently attempted to buy it back from Disney, named the film company after their parents Miriam and Max.


An up-and-coming French singer, Barbara Weldens, has died on stage, apparently by being electrocuted.

She had been performing at a church in the picturesque village of Goudron, in the Lot region of the south-west, when she collapsed. Storms were reported in the area at the time.
Weldens, 35, suffered an apparent cardiac arrest and emergency services were unable to revive her.
She had released her first album this year and had won several awards.
She had become a singer after growing up in the circus, according to her website. Among her biggest influences was the singer-songwriter Jacques Brel. In 2016, she won the young talent award at the Jacques Brel festival.
She collapsed at about midnight on Wednesday while singing in a local festival. Investigators were looking at electrical equipment on the stage to find out what caused the apparent electrical fault.
Weldens regularly performed with a pianist and acoustic guitarist and was in the middle of a tour. She was due to give further concerts in France and Belgium in the coming months.
Although little known, her February 2017 album Le grand H de l'homme (Man with a capital M) had brought national acclaim. A review on the Mediapart website praised the "softness of the melodies" and "the femininity and masculinity" of her work.
She told Midi Libre newspaper last year: "I've always written poems, even when I was little. Then I took piano lessons as a teen. All I wanted to do was compose".


Last week, Libya's UN-backed Presidency Council sailed to the capital Tripoli and set up shop in the navy base.

They travelled by boat from Tunisia because their rivals in the capital closed the airspace when they tried to fly in. The doomsday scenario of rival militia clashes in Tripoli did not happen.
So is this just a honeymoon period, or is Libya turning a new page?
The numerous militias in western Libya who led the battle for the capital in 2014, forcing the elected parliament to move to the east, remain in place. They are now supporting the Presidency Council.
For five years, Libyan militias have been like an abusive partner in a relationship. The governments that have come and gone have persistently thought they can change them, but the end result is always the same.
The international community has been like an observant and nosey neighbour who has witnessed the abuse, and done nothing.
A European ambassador recently admitted to me that outside powers are aware of the risks of forcing through this agreement without a clear consensus on the ground.
But they have run out of other ideas. "What do we do?" he asked.
To start with, it would help if world powers had a coherent strategy for good governance and nation-building.
They have talked only of fighting illegal migration and halting expansion of the so-called Islamic State (IS) militant group.
But these issues will not be resolved if Libya's military actors are at each other's throats.
The new Prime Minister, Fayez Sarraj, has the unenviable task of broadening the UN-backed political deal and demonstrating that he will not be beholden to the militias supporting him.
On the sidelines of a Libya experts' forum in Tunis last week, I ran into many familiar people - there was the academic who refused to speak on the record because "I can get killed or kidnapped when I go back to Tripoli" and the former ministers who have gone into exile because of militia threats.
Salah el-Marghani, a former minister of justice, says Libyans have no choice but to be hopeful. But he is familiar with the challenges.
"We have to do away with the concept of revolutionaries, or militias, because those groups are uncontrollable - even if they support the government now.
"The moment they see the government contradicting their interests, they will turn against it."
He also thinks Western countries need to play a bigger, more effective role in disarmament because the government cannot deal with it on its own.
However, the immediate priority for Europe and the US is finding potential partners in the fight against IS. This policy will entrench militia rule if it is not coupled with a disarmament and army re-integration plan.
Former Foreign Minister Mohamed Abdelaziz says foreign partners should put more effort into capacity building across various sectors rather than focus on military training alone.
It is also unclear how the contested UN-brokered political agreement will be implemented.
Parliament still has not voted for the cabinet that the council proposed. It must also vote on amending the constitutional declaration for the new government to assume its powers.
Until that happens, the unity government is in legal limbo.
Under the UN-brokered agreement, the elected parliament, the House of Representatives, that sits in eastern Libya remains the nation's legislative body.
The former parliament, the General National Congress (GNC), that resurrected itself in the capital in 2014 becomes a State Council with an advisory role and veto powers.
Both these entities are now split right down the middle over the new government.
Adding to the confusion, the UN's Libya envoy, Martin Kobler, recently tweeted that the unity government "needs legitimacy to work" and that parliament must vote on it.
But he added, "if they can't decide" the government "has to go on".
Unless the plan is to do away with parliament in Libya and rewrite the political agreement, this issue cannot be bypassed.
The international community tends to look at Libya through a political lens focused on western Libya - a policy that has the effect of exacerbating tensions with the east. This area saw the bloodiest conflict with extremist groups for over a year.
Military actors there accuse rivals in western Libya of providing weapons to these groups.
With each side feeling like the rightful army of the country, the next battle will be how to unite these competing factions.
Libya has suffered from a lack of planning, both locally and internationally, that has hindered long-term stability. And politicians who bend to the will of the gun are not doing the country any favours.
Warlords have not been held accountable. Justice and reconciliation is an uphill struggle.
The question has always been how to achieve peace and unity. The answer remains as elusive as ever.


Two businessmen, generations apart, tell us a story of entrepreneurial Scots.

So what, if anything, do James Watt and Sir Arnold Clark have in common?
James Watt - the brewer, not the steam engine man - is half of the 34-year old duo that started brewing Brewdog in a Fraserburgh garage ten years ago.
He's been out and about explaining how come the company got to be worth more than £1bn.
That's the valuation placed on it by the Californian consumer goods investment firm that has taken a 23% stake.
As he was doing so, the Clark family announced that Sir Arnold has died, aged 89.
His family wealth was reckoned last year, by the Sunday Times Rich List team, to have topped £1bn, making him the richest car dealer in Britain.
So there's a round figure they've got in common.  But on reflection about such success in business, 50 years apart, there's more than that. Lots more.
What's clear is a determination, and a passion for what they do. While others settle for selling up with enough millions to retire comfortably, they share boundless ambition.
They also got lucky, by timing their business start-up when it was ripe for rapid growth in their sector.
For Sir Arnold, it's nearly 70 years since he bought his first Morris for £70, refurbed it and sold it for a profit. He had just come out of the RAF, where he had trained as a motor mechanic.
Opening his first showroom in 1954, the Arnold Clark story has rarely let up the pace, and shown no sign of doing so recently.
It's still taking on dealerships, now up to 200, with more manufacturers, now at 24.
Sir Arnold spoke in 1985 of seeing that if he had stayed with the woefully poor quality British Leyland in the 1970s, he would have gone down with them, so he branched out to a Renault dealership, and just kept going from there.
Arnold Clark Group has spread to motor finance, insurance, vehicle renting on a fast-expanding scale, fleet management, leasing and the GTG driver training business.
Starting in 2004, the expansion has kept up the pace by spotting opportunities for acquisitions in England, starting in Liverpool and moving through the Midlands.
The company now employs 11,000 people, turns over more than £3bn, sells more than 200,000 cars a year, and keeps a stock of around 20,000 vehicles.
Three of the factors that stand out about the Arnold Clark story: the founder stayed close to the forecourt, he turned used car sales into a more respectable business that respected the customer more than it had, and he kept ahead of industry developments.
He set up Arnold Clark Finance in 1963, replacing the bank manager as the place to finance your purchase. Car hire came not long after.  As with the move away from dependence on British Leyland, such moves were far-sighted.
His good fortune was to set out in car sales at the time that car ownership was being democratised. Through the decades the Arnold Clark badge would be stuck to the rear window of new owners' hopes and aspirations.
There are clearly differences with brewing, and not just that it's been around a lot longer than cars.
The north-east brewer takes some pleasure in showing disrespect - not to its customer base, but to its rivals, the big brewers, and those who want to emphasise alcohol's risks.
It has successfully drawn its customers into a fan base, a club, a fraternity (sisters welcome too) of those who take their beer seriously, and not at all seriously, at the same time.  They court publicity with irreverent shock tactics.
By building capacity and aggressively driving distribution into the supermarket sector, they've built scale, and got ahead of the pack of 100-plus Scottish craft breweries.
By contributing crowd fund investment, those 'Equity Punks' get to share the punk image the brand projects. The company draws you in with offers, samplings, regular communications and an Annual General Meeting-cum-beer-and-music-festival (last Saturday in Aberdeen) attended by 7,000 people.
It sets ever more audacious targets, not only to take on Australia and Asia, but to build a beer-themed Doghouse hotel next to its new Ohio brewery, with what they claim will be a beer-soaked food menu, a mini-bar in the shower, craft beer on tap in every room, a hot tub filled with IPA and beer-based spa treatments.
That beer enthusiast/crowdfunding base took Brewdog to the billion pound valuation before TSG Consumer Partners stepped in with its £213m injection.
Not much like Sir Arnold, perhaps - except that both successes have been driven by breaking the mould.
They've built in a culture that continues to challenge the conventional way of doing things: that reads the way consumer trends and technology are heading.
And both car salesman and brewer have been being lucky enough to have been there for the start of a long-term market upswing, selling a lifestyle and experience as much as a product.


Detectives investigating the suspected murder of a man in Ipswich have made a third arrest.

Dean Stansby, 41, died of stab wounds to the abdomen near Ancaster Road, Ipswich, on Wednesday.
Suffolk police have already arrested a 39-year-old man from Ipswich and a 16-year-old boy on suspicion of murder. Both have since been released on bail.
Officers arrested a 31-year-old man, of no fixed abode, during the early hours of Monday.
For more on this and other Suffolk stories
The man has been taken into custody at Martlesham Police Investigation Centre where he will be interviewed by detectives.
Mr Stansby was taken to Ipswich Hospital for treatment after he was found in Ancaster Road but died a short time later.


A man has appeared before a crown court judge charged with the murders of two women within minutes of each other in separate attacks.

Alan Bennett, 34, is accused of murdering Lynne Freeman, 46, and 30-year-old Jodie Betteridge, in Redcar on Wednesday evening.
Mr Bennett, of Lingholme, Redcar, appeared via a video link for the hearing at Teesside Crown Court.
He made no plea and was remanded in custody. There was no bail application.
He spoke via the link from Holme House prison to confirm his name and that he could hear the proceedings.
Middlesbrough Recorder Simon Bourne-Arton adjourned the hearing until 25 April.
Police were called to Mapleton Crescent in Redcar, where Mrs Freeman lived, on Wednesday evening, then seven minutes later to Ms Betteridge's address in Byland Close.


Manchester City keeper Claudio Bravo was "lucky" not to give away a penalty in the 2-1 win against Manchester United, says Ian Wright.

Wright believes 33-year-old Bravo, who has replaced England's Joe Hart at City, should have been punished for a second-half challenge on Wayne Rooney.
"It's is a penalty. His studs are up," Wright told Match of the Day.
"He jumps in off the ground. He is out of control of his body. It is reckless. It wasn't given and he was lucky."
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Bravo was signed for £15.4m this summer which signalled Hart's departure to Italian club Torino on loan.
But Bravo, making his debut against United, was also at fault when he dropped a free-kick with City leading 2-0, which allowed United striker Zlatan Ibrahimovic to score.
"The way Joe Hart was jettisoned from the squad, I'm thinking Claudio Bravo must be unbelievable," said Wright.
"He has to catch it or punch it and doesn't do either. The communication has to get better. For me, that is terrible."
He added: "I fancy City for the league this season but with him in goal, especially off today's showing, he's going to give people a chance."
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A 76-year-old woman was tied up by two men who broke into her home and stole cash and jewellery.

It happened at about 00:05 at her house in East Cluden Village in Dumfries.
Police said the woman was woken by the men in her bedroom. One they fled she managed to untie herself and seek help from a neighbour.
She was unharmed but said to be "very distressed". Detectives appealed for information to trace the men who they said "preyed upon a vulnerable lady".
The two suspects were described as white, well spoken, possibly with English accents and aged between 30 and 40.
At the time of the incident their faces were covered and they were wearing dark clothing.
Det Ch InspColin Burnie said: "Although unharmed, this was a very distressing experience for this elderly lady and it is important that we trace the men responsible as soon as possible.
"I would like appeal to anyone who may have any information as to who is responsible. These men need to be apprehended as they have preyed upon a vulnerable lady within her own home.
"I would like to reassure the community that despicable crimes like this are rare and we all must do what we can to trace these men as soon as possible. Any information you may have, no matter however small you feel it is, may make all the difference as part of our broader investigation.
Officers were conducting door-to-door inquiries and had deployed specialist resources, including the dog branch, to assist with the investigation.


A gravely ill father is appealing for information to find the killer of his daughter who was sexually assaulted and beaten to death almost 30 years ago.

Wendy Knell, 25, was found dead in her bedsit in Guildford Road, Tunbridge Wells, on 23 June 1987.
Her father, 82-year-old Bill Knell, who has cancer, said: "I want to know, why did he have to kill her?
"They can't do any more for me and I would really like [her killer] caught before the end comes."
Pam Knell, Wendy's 80-year-old mother, said she still kisses a photograph of her daughter every time she leaves her home in Tonbridge.
Kent Police have a full DNA profile of Miss Knell's suspected killer but have never found a match.
A police spokesman said detectives had found there were no clear signs of a forced entry and no one else who lived at the bedsit had heard anything unusual.
Her keys and diary were missing and have never been found.
Miss Knell's murder is being linked to that of 20-year-old Caroline Pierce five months later on 24 November, 1987.
Ms Pierce, also from Tunbridge Wells, was found dead on Romney Marsh.
She had last been seen in Grosvenor and Hilbert Park. Her keys were also missing.
Both women had worked in Camden Road in Tunbridge Wells.
A Kent Police spokesman said both investigations remained live and detectives were committed to solving the murders.
Det Ch Insp Rob Vinson said: 'I don't think any of us can imagine the sheer horror these families have been through over all these years.
"I know this was 30 years ago, but someone may have had their suspicions at the time, or even just recently formed."


Women's Super League One club Yeovil Town Ladies are to play their home games in the 2017 WSL Spring Series at three different grounds around Somerset, rather than just Huish Park.

The Lady Glovers will make their top-flight debut in April following their promotion as WSL 2 champions in 2016.
Their opening game will take place at their Huish Park home, against Liverpool Ladies, on 23 April.
Yeovil will then play their games at Taunton Town FC and Bridgwater Town FC.


Thousands of people are due to converge on Holyrood for the fourth annual Pedal on Parliament event in Edinburgh this weekend.

Those taking part will be calling for improved facilities and safer roads for both cyclists and pedestrians.
But is Scotland moving forward? Are we on the road to becoming a cycle-friendly country?
"Funding has increased from central and local government, mainly through match funding programmes like the Community Links partnership run by Sustrans.
"Some local authorities are committed to 20mph, design of infrastructure is improving and programmes delivering training and awareness of walking and cycling are more sophisticated.
"Cycling is increasingly part of strategic planning and is recognised as a way to improve people's health.
"We are meeting ministers and national politicians much more easily than before and they are sympathetic.
"There are lots of positives, but we are only at the beginning of a journey toward a nation where short trips are easily made by foot and bicycle."
"Scotland has enormous potential for increasing the number of people walking and cycling, leading to better health and wellbeing for everyone in our country.
"Cities like Edinburgh have shown that with political leadership and sustained investment you can achieve a significant increase in the number of people choosing to walk and cycle.
"No parent wants their child to share the road with HGVs, buses and fast moving motorised vehicles.
"That's why I'll be at Pedal on Parliament with my family asking our political leaders for the resources and determination needed to change our streets into places that put people first."
"Cycling is becoming an everyday activity for more people of all ages and abilities.
"Inverness and Edinburgh regularly have 1 in 10 journeys to work by bike.
"38% of primary schools offer Bikeability Scotland on-road cycle training, up from 32% just three years ago thanks to Transport Scotland funding.
"Midlothian provides training in 87% of schools and East Renfrewshire in 100% of schools.
"The figures show it is possible to increase cycling in communities anywhere in Scotland but there is clearly much more to be done."
"As a grassroots campaign group, Pedal on Parliament (Pop) has opened up campaigning beyond "cyclists" to everyone wanting safer roads, a healthier population, and cleaner air.
"We're the first national campaign to call for infrastructure protecting cyclists from motor vehicles, but which doesn't take space away from pedestrians.
"Since Pop started, active travel funding has stopped falling, but is still just 2% of the transport budget.
"To meet the government's goal of 10% of journeys by bike by 2020, we need 5 times that investment, and a long-term commitment to spending it on quality infrastructure."


It never feels good for any politician to wake up the morning after an election defeat.

Today it's hard to imagine many senior Labour figures got much sleep at all last night.
No doubt lying awake contemplating their humiliating defeat by the Tories who knocked them decisively into third place.
But also having to ask deeper existential questions about whether there is still a place for the Labour party in the Scottish political landscape.
Labour can spend the next few days and weeks asking if it was their polices that voters didn't like.
Was it a mistake to offer to raise income tax for almost every taxpayer in Scotland? Was it their young and inexperienced leader who has only been in the job nine short months? Was Jeremy Corbyn's leadership a factor?
But arguments over their manifesto or personalities are to miss the point. This election was clearly about the constitution.
Scottish politics are still totally dominated by the independence question which was certainly not settled on 18 September 2014 and still seems to take precedence in voters' minds over any other issue. And it's an issue on which Labour cannot win.
"We have to get our story straight on where we stand on independence", is what very depressed Labour figures were telling me on Thursday night. But they had different ideas about what that story should be.
Labour can never form another government in Holyrood or win back many of their Westminster seats unless they appeal to former Labour voters who have now decided they favour an independent Scotland and are currently voting SNP.
But what we learned last night was that if Labour don't take a hard line on their support for the union they haemorrhage votes to the Tories.
Labour tried to reach out to Yes voters by saying that if there was another referendum Labour politicians would be free to campaign on either side.
Kezia Dugdale even suggested in one interview that she might consider voting for independence in the event of a Brexit but then tried to row back from that - whilst also saying that she resolutely opposed the idea of having another referendum and would vigorously campaign for a no vote if there was to be another indyref.
That left space for the Tories to proclaim themselves the only true party of the Union.
They accused Labour of being soft on independence and it seems to have worked. The roughly 10% of voters the Tories seem to have grabbed from Labour are largely unionists who wanted to express their opposition to independence at the ballot box once more.
So where does that leave Labour? If the SNP are the party of independence and the Tories the party of the union, what is the point of the Labour Party? They will continue to argue that they care most about social justice and poverty. But as long as voters remain split over the constitution that may not win back many voters.
One small consolation for Scottish labour leader Kezia Dugdale - it seems unlikely she will face a leadership challenge even despite this terrible result.
Why? Partly because Labour have finally realised changing leaders every time they lose an election hasn't helped.
But mostly because no-one wants the job of Scottish labour leader right now. And who can blame them?


Aberdeen-based First Oil Expro has entered administration.

As a result, Enquest and Cairn Energy will take on the company's 15% stake in the Kraken North Sea Oil field.
Enquest will now have a 70.5% interest in the vast field, and Cairn a 29.5% interest.
First Oil began reviewing its operations last year as the oil price fell and started the process of selling parts of the business.
Zennor Petroleum is expected to take on its interests in the Mungo and Monan, Bacchus, Cormorant East and Causeway fields.
Blair Nimmo, joint administrator and head of restructuring at KPMG in Scotland, said the sales, via the administration process, were a reflection of the "significant challenges facing UK North Sea oil and gas companies in the current oil price environment".
He said: "These sales will ensure that the group's four largest field interests are smoothly transferred to new ownership, and provide time to resolve the position concerning the smaller assets in the group's portfolio."


Glasgow-born singer-songwriter Jim Diamond, who had hits including I Should Have Known Better, has died aged 64.

He first entered the UK singles charts in 1982 with the song I Won't Let You Down - recorded with his band Ph.D.
He went on to achieve international success with I Should Have Known Better and Hi-Ho Silver, the theme tune for ITV series Boon.
His family said they were "deeply shocked by his sudden death".
He passed away at his home in London.
A family spokesman added: "He was a devoted family man who loved his wife Chrissy and his children Sara and Lawrence, and the music that he continued to make.
"He dedicated a lot of time over recent years to the Cash for Kids charity appeal in Scotland with his friend Sir Tom Hunter and was still active and well respected on the music scene.
"He'll be much missed by all who knew him and everyone who loved his music and his unique voice and style."
Born in Glasgow's East End, Diamond was influenced by the voices of Ray Charles and Otis Redding and joined his first band at the age of 14.
After moving to London he formed the band Bandit and his haunting voice was brought to the attention of the father of British blues Alexis Korner, who invited him to work with him.
He later went to Los Angeles where he worked with Eddie Kramer, the legendary producer of Jimi Hendrix.
On his return to London he formed the band Ph.D with Tony Hymas and Simon Phillips. Their first single I Won't Let You Down went on to sell millions.
When Ph.D went their separate ways, Diamond signed to A&M Records.
His single I Should Have Known Better went straight to number one and was nominated for an Ivor Novello award. His next single Hi Ho Silver was another top 10 hit.
At the Edinburgh Festival in 1993, the Scotsman newspaper described Diamond as "Scotland's answer to Ray Charles".
In the late 90s, he teamed up with saxophonist Chris "Snake" Davis from soul outfit M People. They performed together and later worked on Diamond's album Souled and Healed which was released in 2005.
In 2011, he released an album of soul covers featuring Scottish musicians including Wet Wet Wet drummer Tommy Cunningham and Greg Kane of Hue & Cry.


David Haye defeated Dereck Chisora with a fifth-round knockout in an enthralling contest at Upton Park.

Haye floored Chisora with a brutal left-hook, right-hand combination in the fifth.
Chisora just managed to climb to his feet but after three right hooks and two lefts from Haye the fight was over.
Earlier, Chisora had controversially rocked British rival Haye with a punch after the bell had sounded in the third round.
"As expected, Haye was too quick and too slick for the ponderous Chisora, although the manner of the victory will have surprised some. Chisora has sturdy whiskers and it took a magnificent barrage from Haye to put him away. Vitali, were you watching? But perhaps more important were the hugs and smiles after the dust had settled - this wasn't, as some had predicted, the end of boxing as we know it but just an entertaining fight."
The victory will now open up the possibility of a fight against WBC world heavyweight champion Vitali Klitschko - who Haye has been calling out for over two years.
On a possible fight with Klitschko, Haye said: "I've sent out a very scary message. I'll be surprised if Vitali Klitschko wants to fight me after that. He will no doubt try to fight some chump nobody has ever heard of and then retire to be a politician."
For Haye this was redemption following his comprehensive points defeat to Wladimir Klitschko last year. Haye retired following that defeat but was tempted to make a return to the ring after he was involved in an ugly brawl with Chisora at a news conference in Munich in February 2012.
That set up a widely-hyped grudge match and in front of 30,000 fans at a rain-soaked Upton Park this fight lived up to its billing.
Chisora, 28. entered the ring hooded and masked to the theme music from Gladiator as the rain pelted down while Haye as ever looked relaxed and focussed.
And it was Chisora who landed the first clean punch of the fight - a solid left hook that rattled the chin of Haye. But Haye, wearing trainers, was in the mood to fight and he shaded the opening three action-packed rounds before the first moment of controversy.
As the bell sounded Haye was caught with two cheap shots from Chisora, the second - a huge left - rocked Haye as he stumbled back to his stool.
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It served only as motivation for Haye, and after the pair stood toe-to-toe trading some fierce shots in a thrilling fourth round, the 31-year-old finally floored his man in explosive fashion.
After stalking his man throughout the round, a huge left-right combination from Haye in the final minute of the fifth floored Chisora who bravely climbed to his feet.
It took five more brutal punches for Haye to finish the fight - all of which Chisora took flush, including a sickening final left hook - with the end coming just in time for the bell. Again Chisora climbed to his feet, but he was in no condition to box on and the contest was ended by referee Luis Pabon.
Despite starting the contest as bitter rivals, the pair embraced at the conclusion of the fight, shaking hands and bringing an end to their feud.


France's richest man has made a £10bn move to combine the Christian Dior fashion house and luxury goods firm LVMH under the same ownership.

Bernard Arnault is the boss of LVMH, which runs Louis Vuitton and Moet champagne, and is also the main shareholder in Christian Dior.
Under the complex deal, the Arnault family will offer to buy the rest of Dior that it does not already own.
LVMH will also buy Dior's high-end fashion line for 6.5bn euros (£5.5bn).
That will unite Christian Dior Couture, the 70 year old fashion label which has been worn by film stars from Elizabeth Taylor to Jennifer Lawrence, with the Christian Dior perfume and beauty business already owned by LVMH.
The move was welcomed by investors, who have called for Mr Arnault to simplify the structures of LVMH and Dior.
Shares in Christian Dior jumped about 11% and LVMH shares rose 5.4% on Tuesday.
Mr Arnault said the move would be an "important milestone" and underlined the confidence of his family group in LVMH.
"The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide," he said.
Christian Dior Couture, which almost exclusively sells its goods through its 198 high-end stores, had revenues of more than 2bn euros last year and profits of 270m euros.
Mr Arnault has a fortune of nearly $51bn (£40bn), according to Forbes.
As well as LVMH and Dior, he also owns stakes in French luxury goods rival Hermes and supermarket chain Carrefour.
LVMH, which was created through the merger of Louis Vuitton and Moet Hennessy, owns more than 70 brands worldwide. They include:


The number of special constables in Wales is to be increased to help police dealing with the heightened security threat, their representing body says.

There are currently about 450 police volunteers in Wales, but more will be recruited by 2020.
The Association of Special Constabulary Chief Officers (ASCCO) said specials often had skills from their day jobs to help in areas such as cyber crime.
North Wales Police hopes to recruit an extra 100 special constables by 2020.
The other Welsh police forces are also increasing their numbers, although they have not given themselves a target.
Special constables are fully-trained frontline officers who can respond to 999 calls.
Ian Miller, chairman of the ASCCO, denied more specials were being recruited due to police cuts, saying they added value to policing.
"I think by increasing the number of specials, it gives resilience to police forces with the security threat," he said.
"There's an advantage in being able to call on fully qualified people to provide an additional resource during times of need."
Mark Owen, chief officer for North Wales Police's Special Constabulary, said the Manchester terror attack proved how invaluable specials were.
"A lot of special constables in north Wales turned up for duty without anybody asking them following the attack," he said.
"They knew officers were going to help in Greater Manchester so they came in, put their coats on and went out on the streets of north Wales. It gives us that flexible workforce."
Special constables have been working alongside paid police officers in England and Wales for the past 185 years.
In addition to their regular jobs, they must carry out at least 16 hours of police work a month - although many do much more - and have the power to arrest people.
Some work as specialist officers, such as with the the road safety unit or fighting rural crime, while others are recruited for knowledge obtained in their regular jobs to help in the fight against cyber crime and fraud.
North Wales Police - which has 188 special constables - held a recruitment event in Llandudno on Saturday to coincide with National Specials weekend.
Recruitment is a big issue for the police forces, as many special constables go on to join the police service as paid officers, leaving vacancies.
Gwent Police and South Wales Police have recently taken on more specials, taking both of their totals to 108.
Dyfed-Powys Police is also recruiting in the coming months to add to its 89 specials.
Officers include people who are cyber experts, mental health nurses, doctors, managers and accountants in their regular jobs.
Cairn Newton-Evans, chief officer for Dyfed-Powys Police's Special Constabulary and the Welsh representative for ASCCO, decided to become a special after he was the victim of a violent homophobic attack in his hometown of Ammanford, Carmarthenshire, in 2008.
"I thought maybe I could try and stop anyone else from going through what I had," said Mr Newton-Evans, who also works in retail and is studying for a degree in law and public services.
"You're giving up your own time and you're not getting paid. You have to really want to do it and make a difference to your community.
"I'm proud I don't get paid - I'm doing it to make people feel safe."


We spoke to One Direction fans at their final concert last night to see if they think the boys are splitting up for good, or just taking a break.

1 November 2015 Last updated at 09:22 GMT
The last gig of the 'On The Road Again' tour took place at Sheffield Arena, following sell-out gigs worldwide.
Lots of emotional fans, many dressed up for Halloween, gave their opinions on whether this was farewell for good or not.
The boys will play the BBC Music Awards in December, they will be taking a year off from March 2016, following release of their fifth studio album.


David Willey will miss England Lions' winter fixtures against Pakistan A to play in the Big Bash.

The Yorkshire all-rounder, 28, is joining Perth Scorchers for Australia's domestic Twenty20 competition, which starts on 21 December.
He misses five T20 matches in the United Arab Emirates, plus the one-day series in January.
The England and Wales Cricket Board says it will "support his continued development for England and Yorkshire".
ECB director of cricket Andrew Strauss added: "This is an excellent opportunity for David.
"It will be the ideal preparation for him leading into the ICC World T20 in India next year."
Willey, who left Northamptonshire at the end of last season to move to County Championship winners Yorkshire, will join the full England squad next month for the limited-overs matches against Pakistan in the UAE.
His replacement in the Lions squad will be named later.


Blackpool chairman Karl Oyston has been charged with misconduct by the Football Association in relation to exchanges of text messages with a fan.

The 47-year-old is alleged to have breached five FA rules by sending abusive and insulting words to a Blackpool supporter.
He has previously apologised for sending "unacceptable" texts after his mobile number was put on social media.
Oyston has until 30 March to respond to the charges against him.
An FA statement said: "It is alleged that the misconduct constituted five breaches of FA rules, and that during the text message exchange, Mr Oyston used abusive and/or insulting words towards a supporter of Blackpool FC.
"It is further alleged that each of these five breaches of FA Rule E3 (1) is an 'Aggravated Breach' as defined in Rule E3(2), as each included a reference to disability."
The exchange of texts took place in December.
In a statement issued at the time, Oyson said: "I regret stooping to the level of those threatening and abusing my family.
"Given my position, I should have acted with more responsibility."
He added that he should have "reported the abusive text messages, phone calls and answer phone messages to the police, rather than get embroiled in such an exchange".
The Blackpool Supporters' Trust (BST) criticised Oyston after the texts were made public, while the Blackpool Gazette newspaper decided to drop him as a weekly columnist.
The club were in the Premier League as recently as 2010-11, but are currently 10 points adrift at the bottom of the Championship, with relegation seemingly inevitable.
Oyston has faced numerous protests from supporters about his continuing involvement in the club, with hundreds boycotting Saturday's home match against Leeds, many of whom went to watch AFC Blackpool in the North West Counties Premier Division instead.
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Wasps owner Steve Hayes has announced he is looking to sell the club.

Hayes, who also owns Wycombe Wanderers FC - Wasps' fellow tenants at Adams Park -  bought the Premiership outfit in 2008.
Hayes said a failure to receive backing for a new stadium at Wycombe Air Park had contributed towards the decision.
"The vision of planning and developing this facility was one of the key reasons I got involved in the club," he told the Wasps website.
"And being unable to bring this to fruition remains bitterly disappointing.
"I fully believe that a new stadium for Wasps is essential in the coming years as we have always said that Adams Park was unsustainable as a long-term option.
"I will work with any potential owners to develop the sporting village model we had already come up with at an alternative location."
In his three years at the club Hayes has started an annual St George's Day game at Twickenham and oversaw an English club's first competitive game overseas.
"Any new owner will have to show me that their aspirations are to provide London Wasps with the right level of investment and structure to ensure that they are once again a team in the hunt for titles at the end of every season," the businessman added.
Former Wasps forward Lawrence Dallaglio, who is a member of the club's board, said: "Steve's passion and vision over the past number of years has helped bring the club to new audiences around the world and any new owners will take on a club in a healthy position in terms of the direction it is heading on and off the pitch."
Hayes insisted he will remain at the helm of Wycombe, but has not ruled out a future sale of the League One side.
"I want to assure [Wycombe supporters] that I remain fully committed to Wycombe Wanderers," he explained.
"Of course, as ever, if approaches are made to me for the club then these would be considered carefully based on what is best for the club but for now my intention is to remain the owner for the foreseeable future."


Uruguay has unveiled a plan to allow state-controlled sales of marijuana to fight a rise in drug-related crime.

Under the bill, only the government would be allowed to sell marijuana to adults registered on a database.
Defence Minister Eleuterio Fernandez Huidobro said this was part of a plan to remove profits from drug dealers and divert users from harder drugs.
He said that the recent increase in murder rates was a clear symptom of a rise in drug trafficking crimes.
"We believe that the prohibition of certain drugs is creating more problems for society than the drugs themselves... with disastrous consequences," Mr Fernandez Huidobro said, presenting the bill.
"Homicides related to settling scores have increased, and that's a clear sign that certain phenomena are appearing in Uruguay that didn't exist before," he said.
The authorities blame the rise in crime in Uruguay on hard drugs, specifically crack cocaine.
The new bill envisages that some shops would be allowed to sell marijuana cigarettes at a price fixed by the authorities.
The government also wants to create a user database to supervise consumption.
BBC regional correspondent Vladimir Hernandez says the move is seen as groundbreaking in South America.
Several Central American leaders - including the presidents of Guatemala and Costa Rica - have spoken of the need to consider decriminalising some drugs in an attempt to undermine cartels.
In Uruguay alone, the illegal marijuana market is estimated to be worth about $75m (Â£48m) a year.
But the new bill has already proved controversial, and the debate in Congress could take several months, our correspondent says.


Logs have been embedded into the grass at a huge city park in Edinburgh in a bid to encourage insects and other wildlife to the area.

The initiative at The Meadows, along the Melville Drive side, comes ahead of a wildlife meadow being planted.
At least 10 large tree logs have been installed by the City of Edinburgh Council after Friends of the Meadows and Bruntsfield requested them.
The logs have been donated by the forestry service.
Lesley Hinds, City of Edinburgh Council's environment convener, said: "We have been working closely with Friends of the Meadows and Bruntsfield Links over recent months to install these logs, which will not only deter drivers from parking along the edge of the Meadows, but will help our efforts to encourage and diversify wildlife in the area, along with a new wildflower meadow."


About 16 police officers either move home or have special security measures installed at their house every year because they are under threat.

The average figures since 2010 were confirmed by the PSNI.
They came after a senior police officer said officers were coming under threat predominately from dissident republicans, but also from loyalist paramilitaries.
"There is a steady drumbeat of that," Det Ch Const Drew Harris said.
"We could expect every month one or two officers to be in the position where they're having to move home." he told the BBC's Nolan Show.
The figures released by the PSNI indicated that an average of seven officers had been moved after being threatened since 2010.
On average, nine officers were also admitted into the PSNI Home Security Aid scheme per year. The scheme involves security features, such as reinforced doors, cameras and security lights, being installed at the homes of officers.
Meanwhile, an investigation by the BBC's Nolan Show found that mental health-related absence within the PSNI had increased by almost 40% in four years.
Mr Harris said this created huge upheaval.
Last month, the PSNI said it was working hard to bring those carrying out paramilitary shootings to court after the number of such attacks doubled in the last year.
Twenty-eight paramilitary-style shootings were recorded in 2016-17, with republicans believed to be responsible for 25 and loyalists for the other three.
A further 66 people were the victims of paramilitary-style assaults, police said.
In February, it was revealed that police in Northern Ireland deal with one paramilitary death threat against a member of the community each day.
Last month, the leader of Northern Ireland's largest party said all paramilitary groups should disband.
Asked if the Ulster Defence Association (UDA) should disband immediately, Democratic Unionist Party leader Arlene Foster said: "There should be no paramilitary organisations."


A postman has been hailed a hero after rescuing a woman who was trapped under her car for two hours.

Jimmy Waters, who was on a delivery round, found the injured woman lying outside her home near West Linton.
He is the second postman from Royal Mail's Peebles office to be recognised for his heroics.
His colleague, Lawrence Fairbairn, was invited to the Queen's garden party after saving a woman who was trapped in her bath for three days.
Mr Waters, 61, discovered the woman while he was delivering mail in a rural part of the Scottish Borders at 12:00 on 4 June.
She had been trapped under her car since 10:00, when it had apparently suffered a problem with its handbrake and rolled backwards on top of her.
The postman, who has 18 years experience, released the woman before raising the alarm, waiting with her until the ambulance arrived.
His manager, Gary Watson, praised Mr Waters by saying: "It could have been totally different had Jimmy not arrived when he arrived.
"The consequences of somebody being trapped for a significant period of time doesn't bear thinking about.
"What the lady went through must be absolutely horrific.
"But I believe she's on the way to making a full recovery now and she's obviously extremely grateful to Jimmy, as we all are, for his actions on the day."
The incident came just two months after Mr Fairbairn discovered a woman stuck in her bath in her flat in Peebles.
He called an ambulance and waited with her until help arrived.
Mr Watson said: "I am immensely proud of both Lawrence and Jimmy.
"It just goes to show that for a postman or postwoman in a rural area, it's not just all about delivering the mail.
"They can literally make a difference to some people and in this instance, clearly they have."


New rules to allow people to hail all taxis in Belfast are set to come into place later this year.

Current laws only allow public hire taxis, commonly known as black taxis, to be hailed on streets in the city.
All other taxis must be booked.
But from 31 May, that will change between midnight on Friday and Saturday nights until 06:00 the next morning.
All taxis will be able to stop for passengers who have waved them down.
The rule will apply within a two-mile radius of the city centre.
Environment Minister Mark H Durkan said he was "modernising and improving" taxi regulations by making the change.
"In effect, these changes will mean that people in the north will get a much better taxi service."
A spokesman for the Department of the Environment (DoE) said that the change was being made "because often demand outstrips supply".
But public hire taxi drivers are unhappy with the change.
Sean Beckett, of the Public Hire Coalition, said: "If this is just to clear the streets [of people], it's wrong.
"You must know that the clientele and the general public are getting into a legitimate taxi and not some renegade that doesn't have insurance, so on and so forth."
Alliance Party MLA Anna Lo said the move was long overdue, but added that the two-mile Belfast zone "could be confusing" for the public, and tourists in particular.
"In any big cities where taxis are an essential means of transport, people take it for granted they can hail them anywhere without having to book in advance or walk to a taxi rank," Ms Lo said.
"I hope this move will see such practice become the norm in Belfast."
The DoE is also introducing new roof signage that some taxis will be required to display, as well as a new test for taxi drivers.


The UK fracking industry needs a new regulator to give the public more confidence in the fledgling sector, an industry-backed body has concluded.

Current regulation, involving a number of government departments, is "complex and relatively unapproachable", says a report by the Task Force on Shale Gas.
It said a new regulator should independently monitor fracking sites.
"Britain has one of the most robust set of regulations in the world for shale gas," a government spokesperson said.
"Both the Health and Safety Executive and the Environment Agency have full authority and responsibility to monitor all shale sites - independent of the industry," the spokesperson, from the Department of Energy and Climate Change, added.
But the taskforce, which is funded by shale companies, said it operates independently, and urged the new government in May to legislate to create a regulator as soon as possible after the general election.
"Speaking to local communities, we have been struck by how complex the regulatory framework appears, and how this leads to a lack of confidence in the system," said Chris Smith, chairman of the Task Force on Shale Gas.
"If the industry develops and the number of applications rises, there will be a need for a single, simplified system," Lord Smith added.
He said the new regulator would also involve the local community in the monitoring process and assess the integrity of wells to make sure any problems that could lead to leaks are discovered and remedied.
Ken Cronin, chief executive of industry body UK Onshore Oil and Gas (UKOOG), said the industry was already addressing many of the areas highlighted in the report.
"Public confidence in our regulatory system is vital, we will look in detail at this report and discuss with the Task Force how to take their interim recommendations to the next stage after further research," he added.
There's often concern and suspicion in communities close to shale gas sites. This report says that the complex regulatory regime - which involves the Environment Agency, the Health & Safety Executive and the Department of Energy - doesn't help.
So it wants a new bespoke regulator which would pull together those responsibilities. The task force - led by Lord Smith, the former head of the environment agency - also wants more monitoring of fracking sites - with local people involved.
And it wants firms to engage with communities long before a drilling proposal is submitted.
Fracking, or hydraulic fracturing to give it its proper name, is a way to extract natural methane gas trapped inside layers of densely-packed shale rock a mile or so underground.
Engineers drill down, line the well with metal and cement casings, and then use controlled explosions to open up fractures in the rock.
They then pump down millions of gallons of water at high pressure, along with sand and chemicals, to prop open the fractures so the gas can escape.


An English language project for Syrian refugees living in Scotland is to be piloted by four local authorities.

Organisers say the scheme will see them join local people to practice their English, share cultures and get involved with community activities.
Scotland has become home to 1,000 Syrian refugees since a summit was held last year aimed at helping to address the international crisis.
It has not yet been decided which councils will host the pilots.
Equalities Secretary Angela Constance said the project, which has been given Â£85,000 of funding, would build on the English language training all Syrian refugees have received.
She said: "We have been inundated with offers of support from the public since we launched our Scotland Welcomes Refugees website last year and I am pleased that we can take advantage of these kind offers and get people volunteering locally.
"Many of the refugees owned their own businesses or were teachers before war and terrorism forced them to flee Syria.
"I hope this project will also allow them to share their skills and talents to help strengthen and diversify our communities."
At last September's summit, First Minister Nicola Sturgeon said that Scotland should accept 1,000 refugees "as a starting point for a meaningful discussion".
The UK government has agreed to resettle 20,000 Syrian refugees through its vulnerable persons resettlement (VPR) scheme over the next five years.


A search operation related to a police investigation into dissident republican activity is continuing in Kinawley, County Fermanagh.

On Wednesday, a 43-year-old man was arrested as a result of "suspicious activity".
A 35-year-old was also arrested in north Belfast on Thursday morning.
Two men arrested in west Belfast have both been released unconditionally.


The main Venezuelan presidential hopefuls ended their campaigns with massive rallies, ahead of Sunday's election of a successor to President Hugo Chavez, who died last month.

Hundreds of thousands of acting president, Nicolas Maduro's, supporters took to the streets of Caracas.
Opposition candidate Henrique Capriles spoke to another large crowd in the northern city of Acarigua.
Venezuelans will choose the successor to the late Mr Chavez on 14 April.
In his final speech, Mr Capriles promised to revive the economy within a year and said his team was already working at their first measures.
"I ask you for the opportunity to show that I can indeed govern and make things right," he told the crowd.
Mr Capriles says he will not dismantle Chavez-era social programmes, but promises to eradicate official corruption.
The charismatic leader died last month after 14 years in office.
In Caracas, the main avenues were filled with red-shirted crowds, the favoured colour of Chavez supporters.
Mr Maduro, who was handpicked by Chavez as his political heir, described himself as a son of the leader and vowed to continue his socialist revolution.
Mr Capriles, a 40-year-old lawyer and politician, says he wants to encourage free-market economies and tackle crime, without neglecting strong social policies.
He is very critical of Mr Chavez's left-wing policies and says he is inspired by the Brazilian model of former President Luiz Inacio Lula da Silva, whose government managed to achieve economic growth and lift millions of people out of poverty.
Mr Lula da Silva, however, recently released a video expressing his support for Mr Capriles' opponent, Nicolas Maduro.
Opinion polls say acting President Maduro has a strong lead over his rival.


A Briton has been remanded in custody in Spain on suspicion of killing a man he had caught filming his daughter on a tablet, reports say.

The British man, 40, was reportedly held on Saturday after the German national was attacked in a restaurant in the resort of Sotogrande.
The victim, 43, had been arrested days before for allegedly possessing indecent images of children, the Civil Guard told the Press Association.
The Foreign Office is investigating.
"We stand ready to provide consular assistance if requested," a spokeswoman said.
Police said they had found the victim with "very serious" wounds. He died later in hospital in nearby La Linea de la Concepcion.
A spokeswoman for Spain's Civil Guard told the Press Association: "The discussion apparently began because of alleged recordings that the victim was making of the aggressor's daughter.
"When he saw what was happening, he took the tablet off him, saw the recordings, threw the device to the ground and attacked him."
Officers said that the suspect had been remanded in custody after appearing before a magistrate.
A post-mortem examination has been carried out and authorities are awaiting results to determine how the victim died.


Newcastle United midfielder Jonjo Shelvey feels like he is "going to school again" following the recent arrival of manager Rafael Benitez.

The Magpies have lost to leaders Leicester and drawn with local rivals, and fellow strugglers, Sunderland since the Spaniard took over two weeks ago.
"You're always being watched - you feel like you're on trial if you like," Shelvey told BBC Newcastle.
"Everyone's looking to impress and being a lot busier than normal."
The 24-year-old continued: "But that's part and parcel of football, you need to show what you're about.
"When a new manager comes in, it's like going to school again."
Following Sunday's 1-1 draw with Sunderland, the Magpies remain next to bottom, one place below the Black Cats, and three points adrift of safety - although both teams have a game in hand over 17th-placed Norwich City.
The Tynesiders have four points fewer than at the same stage of the 2008-09 season, when they were last relegated from the top flight.
However, Shelvey is confident Benitez can make a big difference during the two-week international break.
"People are listening to what he says. His record speaks for itself," he said.
"[The break] will be a good chance to really knuckle down. We've not had much time since he's come in because everything has been a bit rushed."
Newcastle are next in action against Norwich at Carrow Road on 2 April.
The former Swansea midfielder added: "Rafa will come up with a game plan because that's what he does.
"I'm sure we'll go to Norwich and give a very good account of ourselves."


The Pentagon has urged US citizens not to carry out armed patrols outside military recruitment centres.

Civilians acting as unofficial guards have appeared outside some centres since five service personnel were shot dead last week in Tennessee.
Military personnel are generally barred from carrying firearms at recruitment centres and bases.
The Pentagon says it appreciates the support but armed civilians could pose an unintended security risk.
"While we greatly appreciate the outpouring of support for our recruiters from the American public, we ask that individuals not stand guard at recruiting offices as it could adversely impact our mission, and potentially create unintended security risks," said spokesman Peter Cook in a statement.
"We continue to partner with and rely on first responders for the safety of the communities where our service members live and work."
US authorities say 24-year-old gunman Muhammed Youssef Abdulazeez acted alone when he attacked two military facilities in Chattanooga, Tennessee, killing five US service members.
Abdulazeez was shot and killed by police during the attack. His motive was unclear.
Since then, armed civilians - some of them members of private militias - have turned up outside recruitment centres saying they are supporting those inside.
One group appeared in Cleburne, Texas, armed with assault rifles and calling themselves Operation Hero Guard.
In Lancaster, Ohio, armed civilians were ordered off the property after one accidentally discharged his rifle into the pavement.
US officials say there is no indication of further danger to recruitment centres and the government does not intend to change the way they are staffed.


Shares in Burberry closed 8% lower after the luxury retailer reported a fall in revenue in Asia.

Group revenue was flat at £1.1bn in the first half of the year, but investors focused on the dip in sales in China, where the company said trading was "increasingly challenging".
The sales dip feeds into wider concerns about the slowdown in the Chinese economy.
The retailer said it would ramp up cost savings to offset slowing sales.
"The external environment became more challenging during the half, affecting luxury consumer demand in some of our key markets," said Burberry boss Christopher Bailey.
"In response, we have intensified our focus on driving sales and productivity, while taking swift action on discretionary costs."
He said he expected sales to pick up in the second half of the year.
Richard Hunter, head of equities at broker Hargreaves Lansdown, described the results as "underwhelming" and said the group was suffering in Asia and the US, as "general economic malaise" hit demand.


Powerful second-half headers from Marc-Antoine Fortune and substitute Theo Robinson gave Southend United victory at in-form Oxford to boost their League One play-off hopes.

Oxford had won their previous five games in all competitions but they struggled to break through against a dogged Shrimpers defence.
Just after the hour mark - after a pacy overlap on the right - Jason Demetriou delivered a perfect cross for Fortune to head powerfully home.
And with just two minutes remaining, Robinson smartly peeled away from the goal-line to head in Luke O'Neill's right-wing corner.
Oxford were not at their best and their better opportunities came in the first half.
Chris Maguire fired an angled 20-yard free-kick into the side netting.
And from a Maguire corner, centre-half Chey Dunkley was unlucky to see his thumping header come back off the inside of the post.
Dunkley had another header saved at a corner after the break, but Southend were always threatening in the second half and sealed maximum points.
Report supplied by the Press Association.
Match ends, Oxford United 0, Southend United 2.
Second Half ends, Oxford United 0, Southend United 2.
Attempt missed. Antonio Martínez (Oxford United) right footed shot from the right side of the six yard box misses to the left.
Michael Timlin (Southend United) wins a free kick in the attacking half.
Foul by Robert Hall (Oxford United).
Attempt missed. Antonio Martínez (Oxford United) right footed shot from outside the box is too high.
Goal!  Oxford United 0, Southend United 2. Theo Robinson (Southend United) header from very close range to the centre of the goal. Assisted by Luke O'Neill with a cross following a corner.
Corner,  Southend United. Conceded by Curtis Nelson.
Robert Hall (Oxford United) wins a free kick in the defensive half.
Foul by Anthony Wordsworth (Southend United).
Corner,  Southend United. Conceded by Philip Edwards.
Substitution, Southend United. Luke O'Neill replaces Simon Cox.
Attempt missed. Robert Hall (Oxford United) left footed shot from outside the box is close, but misses to the right from a direct free kick.
Philip Edwards (Oxford United) wins a free kick in the attacking half.
Foul by Theo Robinson (Southend United).
Antonio Martínez (Oxford United) wins a free kick in the defensive half.
Foul by Ryan Leonard (Southend United).
Attempt saved. Cheyenne Dunkley (Oxford United) header from the centre of the box is saved in the centre of the goal.
Corner,  Oxford United. Conceded by Michael Timlin.
Jason Demetriou (Southend United) is shown the yellow card for a bad foul.
Curtis Nelson (Oxford United) wins a free kick on the left wing.
Foul by Jason Demetriou (Southend United).
Kane Hemmings (Oxford United) wins a free kick in the attacking half.
Foul by Theo Robinson (Southend United).
Foul by Conor McAleny (Oxford United).
Michael Timlin (Southend United) wins a free kick on the left wing.
Substitution, Southend United. Nile Ranger replaces Marc-Antoine Fortuné.
Conor McAleny (Oxford United) wins a free kick in the attacking half.
Foul by Jason Demetriou (Southend United).
Substitution, Oxford United. Conor McAleny replaces Chris Maguire.
Attempt missed. John Lundstram (Oxford United) right footed shot from outside the box misses to the right.
Substitution, Southend United. Theo Robinson replaces Jermaine McGlashan.
Attempt blocked. Robert Hall (Oxford United) left footed shot from the centre of the box is blocked.
Corner,  Oxford United. Conceded by Adam Thompson.
Attempt missed. Ryan Ledson (Oxford United) right footed shot from outside the box misses to the right.
Goal!  Oxford United 0, Southend United 1. Marc-Antoine Fortuné (Southend United) header from very close range to the high centre of the goal. Assisted by Jason Demetriou.
Substitution, Oxford United. Kane Hemmings replaces Liam Sercombe.
Ryan Ledson (Oxford United) wins a free kick on the left wing.
Foul by Simon Cox (Southend United).
Hand ball by Ryan Ledson (Oxford United).


The foreign ministry in Madrid has summoned France's ambassador after French farmers seized Spanish lorries and drained their cargo of wine.

Spain said the attack by the French protesters was a "flagrant violation of various basic principles" of the EU.
On Monday, farmers protesting against unfair competition attacked the lorries at a border crossing.
The farmers blame falling food prices on foreign rivalry, supermarkets and distributors.
Spanish farming organisations say tens of thousands of litres of wine were dumped as five vehicles were targeted near Le Boulou, in southern France.
The Spanish government says it reported the incident to the European Commission.
"These incidents, which are occurring all too frequently, are grounds for concern for the Government of Spain," the foreign ministry said in a statement.
"Spain has already officially passed on its protest to the French authorities, and urges them to adopt all appropriate measures to guarantee, with absolute security, the free movement of people and goods, one of the basic principles of the European Union."
A Spanish association representing lorry drivers said French police had not acted to prevent the attacks.
Frederic Rouanet, president of the winemakers' union of the French region of Aude, vowed to continue the protests.
Protesters were protecting their products from cheap wine coming from Spain and Italy, he told AFP news agency.
In July, Madrid issued a similar protest after French farmers targeted Spanish lorries importing farm produce.


Nigeria's central bank governor Lamido Sanusi has been suspended by the president for "financial recklessness and misconduct".

Mr Sanusi caused shockwaves in Nigeria when he alleged that $20bn (£12bn) in oil revenue had gone missing.
Nigeria's state oil firm has denied failing to account for the money, saying the claim was "unsubstantiated".
Mr Sanusi is widely respected after undertaking reforms to the banking sector since his appointment in 2009.
He was named central bank governor of the year for 2010 by Banker magazine.
By Will RossBBC News, Lagos
To say that Lamido Sanusi has become a fly in the ointment for President Goodluck Jonathan would be something of an understatement.
His allegations threaten to expose high-level fraud in Nigeria's notoriously opaque and corrupt oil sector. He says over a 19-month period, more than $1bn was unaccounted for every month.
The controversy comes at a time when elections loom and some of the president's senior officials are being asked some very awkward questions.
Mr Sanusi's critics wonder about his own political ambitions and question whether he is using his job to harm President Jonathan's chances in 2015. But to many Nigerians it will appear that the president has chosen to suspend the whistleblower rather than focus on stopping fraud.
Efforts to tackle corruption rarely get anywhere in Nigeria.  In 2007 Nuhu Ribadu was suspended as the head of the Economic and Financial Crimes Commission. As Nigeria's pidgin speakers would say: "To fight corruption. No be easy job o."
He told the BBC he would challenge his suspension in order to preserve the central bank's independence.
Foreign exchange, bond and money markets have stopped trading because of uncertainty caused by the move, Reuters news agency reports.
The BBC's Will Ross in Lagos says Mr Sanusi's allegations threaten to expose high-level fraud in Nigeria's notoriously opaque and corrupt oil sector. Nigeria is one of the world's biggest oil producers.
"The reality is anyone who challenges the oil sector is striking at the heart of the vested interests that control the Nigerian state and one should be ready for the consequences," Mr Sanusi told the BBC's Focus on Africa programme.
The controversy also comes ahead of next year's elections, with the governing party split over whether President Goodluck Jonathan should contest.
Earlier this month, Mr Sanusi told a senate committee that out of $67bn of oil sold between January 2012 and July 2013, $20bn had not been accounted for.
The Nigerian National Petroleum Corporation said the allegations showed "little understanding of the technicalities of the oil industry".
Mr Sanusi is currently in Niger attending a meeting of top officials, which he has now left.
His deputy, Sarah Alade, who is travelling with him, will fill in until a new governor is appointed.
President Jonathan asked him to resign in December but Mr Sanusi refused, sources told the BBC Hausa service.
The president does not have the power to sack the central bank governor - only the National Assembly can do this.
His term in office was due to end in June but correspondents say the decision to suspend him now is still highly significant.
The presidential statement announcing his suspension said he had been removed pending "investigations into breaches of enabling laws, due process and mandate" of the Central Bank of Nigeria.
It said his "tenure has been characterised by various acts of financial recklessness and misconduct... [and] far-reaching irregularities".
While Mr Sanusi's critics question whether he is using his job to harm President Jonathan's chances of re-election, many Nigerians will think the president has chosen to suspend the whistleblower rather than focus on stopping fraud, our correspondent says.


A 17-year-old boy accused of planning a terror attack in Cardiff will go on trial later this year.

The teenager, from Rhondda Cynon Taff, is charged with preparation of terrorist acts by obtaining a knife and hammer last month.
He is also accused of posting on the Instagram social network to encourage others to commit acts of terror.
A 10-day trial will take place at Birmingham Crown Court from 13 November.
The Old Bailey judge said on Thursday a plea hearing would be set for October.


The US has flown two bombers over East Asian waters, as tensions continue to run high in the region.

The B-1B Lancers took part in joint military drills with Japan in the East China Sea, the US Air Force said in a statement.
They then flew over the highly contentious South China Sea.
On Tuesday, North Korea test-fired a long-range missile some believe could reach Alaska, sparking concerns over its weapons capabilities.
A statement by the US Pacific Air Forces said the flights with Japan "demonstrate the solidarity between Japan and the US to defend against provocative and destabilising actions in the Pacific theatre".
Tuesday's launch of an intercontinental ballistic missile (ICBM) by North Korea sparked a warning from the US that it would use military force "if we must".
The US has been firing missiles into South Korean waters in joint ballistic missile drills in response to the missile test.
Japan, which sent two F-15s for the joint drill, also has competing claims with China in the East China Sea.
After the joint flypast, which took place at night, the two bombers headed to the South China Sea to "exercise the rights of freedom of navigation", said the US statement.
They then returned to the US airbase in Guam.
China claims sovereignty over almost all of the South China Sea, which the US has challenged.
Last weekend a US warship sailed near one island sparking an angry response from Beijing.


Users of Guardian Soulmates have been targeted with  sexually explicit spam emails after their contact information was accidentally exposed on the dating site.

Information from users' profiles was included in the spam messages.
The Guardian newspaper's publisher, which runs the service, said "human error" was at fault.
Guardian News & Media blamed a third-party technology provider for the problem, which has now been fixed.
The BBC was contacted by one user who said they had started receiving sexually explicit spam emails sent to an account they only used with the dating service.
Their Guardian Soulmates username appeared in the messages.
The person, who requested that they remain anonymous, said they first contacted Soulmates six months ago because they were concerned about what other data may have been taken.
"I basically had been receiving spam [â€¦] directly referencing information that could only have come from the Soulmates database," said another affected user, who also wished to remain anonymous.
"It's all information that I was happy to put online at one point anyway, but when it's used outside of context like that it does feel a lot more creepy."
The user told the BBC that they alerted Guardian Soulmates in November last year and received an email confirming what had happened in late April.
While the user - who works in IT - said they understood that incidents like this can occur, they were also surprised to be affected as they had not used the site for several years and were no longer paying a membership fee.
"I'm still pretty miffed that I'll probably forever receive spam from this," they added.
A spokeswoman for the site - which costs users up to Â£32 ($41.50) per month - added that while only email addresses and user IDs had been exposed directly, such information could be used "to find members' publicly available online profiles".
Details on public profiles, such as a photo, relationship preferences and physical description, could then potentially be accessed.
"We can confirm we have received 27 enquiries from our members which show evidence of their email addresses used for their Soulmates account having been exposed," the spokeswoman said, adding that there was no evidence that the data exposure had been caused by an outside party.
"Our ongoing investigations point to a human error by one of our third-party technology providers, which led to an exposure of an extract of data," she said.
Guardian News & Media had apologised to affected users and would "continue to review" its processes and third-party suppliers, she told the BBC.
The Information Commissioner's Office (ICO) has said it is "aware of a potential incident involving Guardian Soulmates and will be looking into the details".
"The law requires all organisations handling personal data to take appropriate measures to keep that information secure," a spokeswoman said.
"As the regulator, it's our job to act on behalf of the UK public to see whether that's happened."
Data made available by the exposure could have been used in a variety of ways by scammers, said Prof Alan Woodward, a cyber-security expert at the University of Surrey.
He pointed out that Guardian Soulmates was the latest in a long line of incidents where users' personal data has been made public either accidentally or following cyber-attacks.
"It's almost depressing really that it keeps happening - particularly on something like a dating site, which I think most people would consider to be a bit more sensitive," he said.
"When we start using an online service of any nature, we put our trust in people to protect our information."
Users who are concerned that data from their account might have been accessed should contact support@guardiansoulmates.com.


An inquest into how an Irish stud farmer was killed on the M4 motorway near Newport has been opened and adjourned.

Andre Murphy, 56, who was known as Nick and from County Wexford, died in the early hours of Monday after the incident at junction 28 eastbound.
Mr Murphy was thought to have been fixing a flat tyre on a horse trailer at about 04:10 GMT when he was hit.
A man, 45, was arrested on suspicion of causing death by dangerous driving.
Newport Coroner's Court heard Mr Murphy had been on his way to deliver horses when the incident happened.
He was declared dead at the scene.
The hearing was told that the provisional cause of death was multiple external and internal injuries to head, chest and abdomen and blunt vehicular trauma.
The coroner, Mr David Bowen, said due to ongoing police inquiries the inquest would be adjourned for three months.
The incident brought the motorway to a standstill for much of Monday morning, with tailbacks stretching to 11 miles.
The man arrested in connection with the crash has been released on police bail.


A suicide bomb attack on a mosque in Yemen's capital Sanaa has left at least 25 people dead and wounded at least 36.

Two explosions struck the al-Balili mosque as worshippers were performing prayers for the Eid al-Adha festival.
The so-called Islamic State (IS) militant group said it had carried out the bombing.
The attack comes two days after Yemen's President Abdrabbuh Mansour Hadi returned to the southern city of Aden from exile in Saudi Arabia.
He had fled in March following gains by Houthi rebels, who have since been targeted by a Saudi-led coalition.
The coalition, along with loyalist forces, have pushed back the Houthis from some areas, including Aden.
However the Houthis - Shia Muslim rebels from the north of the country - still control the capital.
The UN says almost 4,900 people, including more than 2,200 civilians, have been killed in Yemen in fighting on the ground and air strikes since 26 March.
The Balili mosque is close to a police academy in Sanaa.
One suicide bomber reportedly detonated explosives inside the mosque and, as people fled, a second bomber set off explosives at the entrance.
"The situation is very painful and blood is everywhere," a local resident told Reuters.
Sanaa has been hit by a series of bomb attacks, many of them claimed by IS, which follows its own extreme version of Sunni Islam.
Eid al-Adha - the festival of sacrifice - is celebrated by Muslims worldwide.
It honours the willingness of Abraham to sacrifice his son as an act of submission to God's will.
The war the world forgot?
Yemen's humanitarian catastrophe
Who is fighting whom?
Meeting the Houthis and their enemies


Campaigners for Britain to leave the EU should seek support from ethnic minorities as they are more Eurosceptic than people assume, UKIP has said.

Spokesman Steven Woolfe said black and ethnic minority voters were "feeling the strain" of EU migration and felt the EU "damages" security and freedom.
He will call for a fairer immigration system in a speech later.
Mr Woolfe also told the BBC it would be a "mistake" for there to be a single figurehead for the 'Leave' campaign.
He said there should be a "dream team" of leaders to attract the widest possible audience, and that UKIP leader Nigel Farage should play "a key role" in that.
"We have to reach out to everybody and Nigel is a very important part of that group of people that can reach out to those who will win us this referendum," he told Radio 4's Today.
Mr Farage is backing Leave.EU - one of two main groups vying to become the official 'Leave' campaign. The decision will be taken by the Electoral Commission.
Jon Moynihan, from the other, Vote Leave, played down talks of a merger and said he did not think there was "any need for a monolithic group" of anti-EU organisations.
Speaking to BBC Radio 4's Today programme, Mr Woolfe said black and ethnic minority voters would play a crucial role in the vote on Britain's future in the EU.
Research by the British Future think-tank, which he addressed on Tuesday morning, highlighted concerns these voters had about immigration, he said.
"They want prosperity, the want their culture protected, they want freedom and they also want to be secure.
"They see the European Union as something that damages that," he said.
Challenging the assumption that non-white voters would be more likely to vote to stay in the EU, he said there had "always been an assumption" they were more likely to vote Labour than the Conservatives "and we now know that's not the case".
He told Today: "If granny wants to come over from Pakistan or India for a wedding, they have got more difficulties in terms of visas and getting visas than would a granny from either Spain or France.
"If you look at the black community, they are more likely to be struggling on low wages in the low skilled and unskilled areas, and that's the area that has been affected by large-scale migration."
While immigration could be a "good" thing, Mr Woolfe said, "large-scale migration on the numbers that we've got" drives down wages and causes societal pressures.
UKIP has never said it wanted to stop immigration as a whole, he added: "It's just that we want a managed and controlled system.
"I think the black and ethnic communities understand that."
Referendum timeline: What will happen when?
Guide: All you need to know about the referendum
Q&A: What does Britain want from Europe?
More: BBC News EU referendum special
Addressing British Future, Mr Woolfe's message was that a fairer immigration system which favoured arrivals from the Commonwealth over Europeans should be at the centre of the campaign to leave the EU.
"If our campaign paints a positive and rational picture of what our border policy will be outside of the EU, we can win over the moderate majority of the black mixed ethnic community of which I am a member.
"The British black, mixed and ethnic community have a crucial role to play in our quest to reclaim our independence - and they will vote leave in their thousands if they believe they are voting for an outward-looking, prosperous and secure future," a pre-released text of his speech says.
The UK government has promised to hold an in-out referendum on Britain's membership of the EU before 2018.
No date has been set for the vote but it could be held as early as June if a deal is agreed on the UK's reform objectives at February's European Council summit.


Relatives of a teenage cyclist killed in a crash in Moray have donated 10 defibrillators in a bid to help police save lives.

Keen mountain biker Keiran McKandie, 16, from Elgin, died after the crash with a car on the B9010 Forres to Kellas Road in March.
His parents Sandra and Gordon McKandie, and family and friends, have been fundraising to buy the defibrillators.
They will be installed in police emergency response vehicles.
North East Police Division officers have started being trained how to use the equipment.
Mrs McKandie said: "Because Keiran was in a rural area when his accident happened the police were first on the scene and had they had a defibrillator there is a chance his life might have been saved.
"This is about maintaining a legacy for Keiran. Our hope is that through his sacrifice other lives may be saved.
"It is appropriate that the police will now have these defibrillators installed and that is something positive from such a tragic event.
"Nothing can compensate for Keiran not physically being in our lives anymore but the fact that these defibrillators are located in emergency response police vehicles will enable others in a critical condition to have an increased chance of survival."
Ch Insp Louise Blakelock said: "We are extremely grateful to Keiran's family for the generous donation of ten defibrillator machines which will be carried in our road policing vehicles in the north east.
"The McKandie family are to be commended for their dedication to the fundraising campaign during such difficult times and these defibrillators will provide something positive from this tragic incident.
"A number of officers have been trained in the use of the defibrillators today, with more to follow and this will allow our road policing officers to provide enhanced medical aid if required when they are first on the scene of serious incidents."
Euan Esslemont, head of ambulance services for the area, said: "We will work with Police Scotland to quickly evaluate the success of this wonderful initiative from the McKandie family and seek opportunities to spread co-responding across Grampian and other remote and rural areas across Scotland."


A murder trial has been told there is "moderate support" to contend that the alleged gunman filmed on CCTV is the same man on trial for the killing.

Kieran Edward Joseph McLaughlin, from Elaghmore Park in Londonderry, denies murdering Barry McCrory, who was shot dead in the city in October 2013.
A forensic imagery analyst gave evidence on day five of the trial.
He was asked to compare an image of the accused with a man captured on CCTV at Mr McCrory's flat on the day he died.
Referred to in the trial as 'Man X', the suspected gunman was filmed entering the block of flats at Shipquay Street both before and after the fatal shooting.
Mr McLaughlin's case is being heard in a Diplock non-jury trial at Belfast Crown Court.
The 60-year-old defendant is also charged with possessing a sawn-off, 12 bore double-barrelled shotgun, shotgun cartridges, a pistol and ammunition with intent to endanger life and possessing a imitation Walther pistol.
The forensic imagery analyst, who specialises in image and facial comparisons, outlined his findings after comparing the defendant's photo with the CCTV images.
The court heard that many of Man X's facial features were obscured in the still image that was examined, as the gunman was wearing a hood and safety glasses.
This, the court heard, meant features such as Man X's ears, forehead, eyebrows and hairline were obscured.
The expert said that despite several of Man X's features being obscured, there were some similar features between the two images.
These included a "broad consistency" in the appearance of the noses and the roundness of the chins.
When asked to give his conclusion, the facial comparison expert said that based on his findings "the analysis lends moderate support to the contention that Man X and Mr McLaughlin are the same person."
Under cross-examination by defence barrister the expert admitted his findings were not validated or verified by a colleague or anyone else in the field of facial mapping.


Sharknado fans rejoiced this week at the news that the Syfy channel is pressing ahead with a fifth instalment in the trashy disaster franchise.

Directed as ever by Anthony C Ferrante, Sharknado 5 will see returning stars Ian Ziering and Tara Reid travel to London to avert a global shark tornado.
Since it began in 2013, the TV movie series has been met with glee by viewers - and derision by critics.
Here are five critically-panned movies that audiences have grown to love.
Often cited as the worst movie ever made, Tommy Wiseau's self-financed opus came and went in 2003 but has since developed an enthusiastic fan following.
Audiences at special screenings regularly congregate to yell abuse, recite lines from the script in unison and throw plastic spoons at the screen (don't ask!)
Wiseau, who also appeared in the film, has taken this in good humour, appearing at screenings to take questions and even taking part in a live reading of his script.
He's since reteamed with co-star Greg Sestero for a new film called Best F(r)iends, while James Franco has made a film about The Room's production, entitled The Masterpiece.
Read more about The Room from BBC Culture.
Made for less than $10,000 (Â£8,000), this ultra low-budget attempt to replicate Alfred Hitchcock's The Birds on a shoestring had audiences flocking to revel in its awfulness.
James Nguyen's film was particularly derided for its special effects, which consisted mainly of shoddy CGI eagles interacting unconvincingly with the film's cast of unknowns.
US distribution company Severin Films saw potential in its ineptitude and took the film on a "Birdemic experience tour" that included a visit to London in 2010.
Not to be deterred, Nguyen released a sequel, Birdemic 2: The Resurrection, in 2013 and has plans to round out the franchise with Birdemic 3: Sea Eagle.
Riding high on the success of Basic Instinct, Dutch director Paul Verhoeven reteamed with writer Joe Eszterhas for this torrid tale about a Las Vegas dancer stripping her way to stardom.
Their labours were met with derision by the critics, who poured scorn on the script, Elizabeth Berkley's lead performance and one particularly ill-judged swimming pool sex scene.
As is the way of these things, though, the film developed a cult following on home video and is now a staple on the midnight screening circuit.
Verhoeven, incidentally, is currently getting some of the best reviews of his career for Elle, a dark drama about rape that won two Golden Globes last month.
Just three years on from Return of the Jedi, George Lucas laid an almighty egg with this disastrous stab at bringing Marvel's wise-quacking alien to the big screen.
Released as Howard: A New Breed of Hero in the UK, the film's crimes against cinema include putting an actor with dwarfism in an inexpressive duck suit that reportedly cost $2m (Â£1.6m) to make.
Since its release in 1986, though, the film has come to be embraced both by lovers of bad movies and fans of the original comic book character.
Howard's brief appearance at the end of 2014's Guardians of the Galaxy, meanwhile, has prompted talk that a movie comeback may be on the cards.
Edward Wood Jr's status as the world's worst director is largely down to a 1959 black-and-white creature feature that languished in late-night TV obscurity for 20 years.
But after film critic Michael Medved declared it the worst movie ever made in 1980, it found a new audience among those who saw a camp value in its cheap effects and cheesy sci-fi storyline.
Many were particularly impressed by Wood's billing of Bela Lugosi as the film's star, despite the fact that he barely appears and actually died three years before the film's release.
The film and Wood himself were subsequently granted the ultimate accolade when Tim Burton made a film about the director's life, starring Johnny Depp as Wood and Martin Landau as Lugosi.
Follow us on Facebook, on Twitter @BBCNewsEnts, or on Instagram at bbcnewsents. If you have a story suggestion email entertainment.news@bbc.co.uk.


A college bought Manchester United season tickets in a "growth strategy" before cutting more than 100 jobs.

Four tickets were purchased by Bournville College in Birmingham under former principal Norman Cave, a Freedom of Information request has revealed.
The Longbridge further education college also held a Â£170,000 centenary event, a Â£35,000 staff party, and paid consultants Â£2.8m over three years.
Mr Cave, who has since retired, denied any claims of financial mismanagement.
Updates on this story and more from Birmingham
New bosses at the college said they no longer had the season tickets.
A whistleblower, who wished to remain anonymous, said previous management was "chaotic" and it was "clear funds were spent where they shouldn't have been".
Referring to the Manchester United tickets, the source told the BBC: "I could possibly understand it if it were a local team [and] you would be showing off Birmingham at its best, but Manchester? No."
More than 100 redundancies were made at the college during the last year- almost a quarter of the workforce.
New interim principal Michelle Sutton said: "The college has experienced a period of financial challenges as a result of some of the strategic decisions that have been taken in the past."
She said the management team had been halved in size and that a recovery plan was now in place.
Regarding the football tickets, the college added: "The previous management team pursued a strategy of growth, of which the relationship with Manchester United was part.
"The new management team and board cannot comment further on the rationale and detail behind decisions taken by the previous management team.
"However, we can confirm that these arrangements no longer exist."


The leader of a Mexican drug cartel, Edgar Valdez Villareal, has pleaded guilty to drugs charges in a US court.

Valdez, a US citizen better known as "Barbie" for his light eyes, was arrested in Mexico in 2010 and extradited to the US in September 2015.
A key figure in the Beltran Leyva cartel, he was accused of smuggling more than 1,000kg (2,200lb) of cocaine into the southern and eastern US.
He has yet to be sentenced but lawyers said he could face life in prison.
Valdez, a former high school football player in Texas, is believed to have started his criminal career dealing marijuana in Laredo, Texas.
He left his middle-class life in Texas in the 1990s after being indicted in the US, where he had expanded his drug-dealing business to the neighbouring states.
In Mexico, he joined the ranks of the Beltran Leyva cartel and quickly gained a reputation for extreme violence which helped him rise through its ranks quickly.
He is believed to have led the cartel's gang of hitmen.
When the cartel's founder, Arturo Beltran Leyva, was killed by Mexican security forces in 2009, Valdez made a move for the top job, pitting himself against Arturo's brother Hector and unleashing a wave of internecine gang warfare,
Each group would decapitate their rival's hitmen and hang their bodies from bridges as a grisly message to keep out of each other's territory.
Valdez, who had a $2m (Â£1.37m) price on his head, was captured in a residential area near Mexico City in August 2010.
He pleaded guilty to charges of conspiring to import and distribute cocaine, and conspiring to launder money, before a federal judge on Wednesday.
While security forces say they have dismantled the Beltran Leyva cartel, Mexico continues to suffer from drug-related violence which has left tens of thousands of people dead over the past 10 years.
The most notorious cartel leader, Joaquin "Shorty" Guzman of the Sinaloa cartel, is currently at large after escaping a maximum-security jail in July last year.


Half-centuries from Gary Ballance and Jack Leaning rescued Yorkshire on a rain interrupted first day against Warwickshire at Edgbaston.

Yorkshire slumped to 85-4, as Alex Lees and Adam Lyth both fell for 19 before Andrew Gale was bowled by Keith Barker.
Jonny Bairstow, who hit 246 against Hampshire last week, then chopped on off Chris Woakes for 20.
But Ballance and Leaning's unbroken 92-run fifth-wicket stand steadied the innings as Yorkshire closed on 177-4.
The visitors' top order failed to fire once more, having collapsed in both innings in their first match of the season against Hampshire, as they went from 46-0 to 56-3.
Rikki Clarke bowled Lees, and Lyth was caught in the slips off Boyd Rankin as the openers struggled with Warwickshire's seamers.
Despite their innings being interrupted by rain and bad light, England hopeful Ballance, and Leaning, both hit seven fours to reach the close of play on 50 not out each, and leave Yorkshire in a healthier position.
Warwickshire all-rounder Chris Woakes:
"It was a pretty good day for us but, having had them 80-odd for four we'd have liked them five or six down by this point. But they won the toss and batted on a pretty good pitch so we can't really moan.
"Credit to Gary Ballance and Jack Leaning for the way they batted. They got stuck in. We bowled well and put the ball in the right areas but they responded and sometimes you just have to give credit where it's due.
"I feel fine. Last week I fell at the Ageas Bowl and aggravated something in the back of my knee but I had an injection in it and it has settled down nicely. I felt in good rhythm, hit the pitch pretty hard and was pleased with the way it came out."
Yorkshire coach Jason Gillespie:
"Gary Ballance played really well. He stuck to his zones and how he plays and absorbed some very good bowling. He is a fine player.
"Personally, I didn't agree with England's decision to leave him out last year but his reaction to that has been outstanding. He has knuckled down for Yorkshire.
"Joe Root will come back into the side next week so it will be an interesting selection decision we have to make, but we are not worrying about that at the moment."


A Scottish-based student is thought to have been deported to Pakistan despite claims he faces political persecution and possible death in his homeland.

City of Glasgow College student Majid Ali was recently held at Dungavel Detention Centre in Lanarkshire.
Supporters believe he was deported on Tuesday night. The Home Office said it did not comment on individual cases.
Mr Ali had accused the Pakistani authorities of killing his uncle and cousin and abducting his brother.
He first claimed asylum in the UK in 2011 after stating that his brother was the victim of an enforced "disappearance" by Pakistani authorities.
More recently, Mr Ali claimed that his family home in the Balochistan province was raided by government forces, and his uncle and cousin were shot and killed.
The volatile province, in the south west of Pakistan, has seen conflict between government forces and groups from the region who want more political autonomy or independence and a greater share of revenue from natural resources.
The National Union of Students (NUS) had been running a campaign to keep Mr Ali in the UK.
Earlier this week, NUS Scotland president Gordon Maloney said: "We are deeply concerned for Majid's safety if he is forced home.
"We all recognise that nobody deserves the kind of treatment he has received in this country, or the grave danger that might await him on his forced return home."
The campaign had been supported by SNP MP for Glasgow South West, Chris Stephens, who wrote to the immigration minister and Scottish secretary and attempted to raise the case in the House of Commons.
Mr Stephens had said it was "fairly obvious to anyone looking at this case that Majid should be allowed to stay as there would be a genuine fear for his life if he was deported".