Walt Disney Acquires Various Fox Assets for $52.4 Billion.
The Walt Disney Company has announced the confirmation of acquisition of various Fox assets in a press release today. Notably, Disney has acquired 21st Century Fox, including Twentieth Century Fox Film and Television Studios and Fox-related cable and international TV businesses, for $52.4 billion in stock.
The “definitive agreement” between Disney and Fox will still need to face various customary closing conditions, including shareholder approval and other regulatory and antitrust reviews .
Famous Movie assets are now Disney owned under 21st Century Fox, includes Fox Searchlight Pictures and Fox 2000, homes of movies like Avatar, X-Men, Fantastic Four, Deadpool, The Grand Budapest Hotel, The Shape of Water, and Gone Girl. Disney also now owns Fox’s TV production companies including the previously mentioned Twentieth Century Fox Television, as well as FX Productions and Fox21, which brought viewers shows like The Simpsons, This Is Us, and The Americans.
On the TV and Streaming Network, Disney has also acquired FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India, Sky plc, Tata Sky, Endemol Shine Group, and most notably Fox’s 30 percent stake in Hulu. With this particular asset acquisition, Disney is now a majority shareholder of Hulu.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
“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 deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”
Disney says that the acquisition of all these assets would build on the company’s “commitment to deliver the highest quality branded entertainment,” as well as fuel Disney’s ability to “create more appealing content.” The company also references its intent to deliver a “more compelling” entertainment experience to Disney consumers “whenever and however” they choose.
Disney also says that the Fox assets will even accelerate its use of certain technologies like the recently acquired BAMTech platform, which it aims to use for its solo-streaming service. The company said these advancements will create more ways for Disney storytellers to share content with audiences, while providing those audiences more choices for how they consume film and TV.
With a world-class team of managers and storytellers along with its broad international footprint, Disney will push its efforts to provide a more compelling entertainment experience through its direct-to-consumer (DTC) offerings. But Disney doesn’t own EVERYTHING. Important assets being left out of the deal and staying with Fox include the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2, and Big Ten Network. Immediately prior to the acquisition 21st Century Fox separated all of these assets out into a newly listed company and will spin-off ownership among its shareholders.
There are plenty of more details about the Disney-Fox deal — including the “reuniting” of X-men with Disney-owned Marvel — which can be found in Disney’s press release.