The Walt Disney Company Completes Purchase of 20th Century Fox
After the Simpsons were right with the Trump Presidency who knew lighting would strike again. Well, it did. Today, after a big bidding war, the Walt Disney Company has taken ownership of 20th Century Fox. Who knew, it only took $71,000,000.
The acquisition of 21st Century Fox’s iconic collection of businesses and franchises will allow Disney to provide more appealing high-quality content and entertainment options to meet growing consumer demand, increase its international footprint, and expand its direct-to-consumer offerings; which include ESPN+ for sports fans, the highly-anticipated Disney+ streaming video-on-demand service (launching in late 2019); and Disney and 21st Century Fox’s combined ownership stake in Hulu.
“This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
This acquisition includes 21st Century Fox’s renowned film production businesses, such as:
- Twentieth Century Fox
- Fox Searchlight Pictures
- Fox 2000 Pictures
- Fox Family and Fox Animation
- Fox’s television creative units
- Twentieth Century Fox Television
- FX Productions and Fox21
- FX Networks
- National Geographic Partners
- Fox Networks Group International
- Star India
- Fox’s interests in Hulu
- Tata Sky
- Endemol Shine Group
The Walt Disney Company adds a truly large gem to that crown that already has Pixar, Marvel, and Lucasarts. What’s next? Watch out Comcast…
Wow! I guess one day either Amazon will buy Disney or Disney will buy Amazon, and one of them will rule the world! LOL!
What’s next? Layoffs up to 10,000 across across companies
Thanks for the comment Jen! The layoffs are already starting. Even though we are used to the Happy side of the Disney Company as in the parks and movies and such, they are a company and they are expected to make money for us stockholders. One of the prices of a buyout or merger, are the redundant jobs that will be eliminated.