Robert Iger and Rupert Murdoch
Disney announced recently via a press release that it will acquire Twenty-First Century Fox for $52.4 billion in stock.
The transaction will include Twenty-First Century Fox’s film (Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000) and television studios (Twentieth Century Fox Television, FX Productions and Fox21), cable entertainment networks and international TV businesses (including Star in India and Fox’s 39 per cent ownership of Sky across Europe).
Fox’s popular entertainment properties like X-Men, Avatar, Fantastic Four, Deadpool, The Simpsons, FX Networks and National Geographic will also join Disney’s portfolio.
The agreement will also provide Disney with an opportunity to reunite the X-Men, Fantastic Four and Deadpool with the Marvel family.
Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.
“We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings,” The Walt Disney Company chairman and CEO Robert A. Iger said in the statement.
Immediately prior to the acquisition, Twenty-First Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.
At the request of both Twenty-First Century Fox and the Disney Board of Directors, Iger has agreed to continue as chairman and CEO of The Walt Disney Company through the end of calendar year 2021.
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