Disney in agreement to acquire 21st Century Fox
Greetings Disney Nerds!
Disney has announced today that they have entered into what they call a “definitive agreement” to acquire 21st Century Fox which includes the Twentieth Century Fox Film and Television studios, cable and international TV businesses, all for about $52.4 billion in stock. Before the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, and Big Ten Network into a new company that will be a spin-off.
Now the highlights of this deal as follows:
- Disney Gets:
- 20th Century Fox, Fox 2000, Fox Searchlight movie & television studios
- Majority control of Hulu (60%)
- Several Movie Franchises (including X-Men, Deadpool, and Avatar)
- Major TV Franchises (including This Is Us, Modern Family, and The Simpsons)
- International media businesses which include 350 channels in 170 countries
- FX and National Geographic Partners
- Fox’s regional sports networks
- $13.7 billion of Fox’s debt
- Bob Iger’s contract extended through 2021
- Fox Gets:
- 25% of Disney shares
- $8.5 billion cash dividend from the spin-off company
- Spin-off company which keeps Fox Broadcasting and Fox News
The acquisition brings a lot of questions up as to what the future holds for Disney. Now that Disney will get X-Men and Deadpool back to Marvel, will there be new movies and integrations to Disney parks? Disney will also acquire Avatar so does that mean more experiences at Disney’s Animal Kingdom and the lost awaited Avatar movies will be released? If Disney has majority control of Hulu, will they allow offer more Disney movies on Hulu and will the rumored separated Disney streaming service go away? Will the Disney Nature films change now that Disney will have access to National Geographic? These questions and more come up with the deal and we look forward to seeing what Disney plans!
To see full news release from Disney check out: https://thewaltdisneycompany.com/walt-disney-company-acquire-twenty-first-century-fox-inc-spinoff-certain-businesses-52-4-billion-stock/
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