Disney’s Acquisition of 21st Century Fox Is Now Complete
Well it’s official Disney fans! As of 12:02 a.m. Eastern Time this morning (March 20, 2019), The Walt Disney Company’s acquisition of 21st Century Fox is now in effect. But what does this really mean to the rest of us?
Essentially Disney is now able to provide more appealing high-quality content and entertainment options to meet growing consumer demand. They are are doing this by utilizing 21st Century Fox’s iconic collection of businesses and franchises. This also increases its international footprint and expands its direct-to-consumer offerings. Furthermore, some of these offerings 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.”
21st Century Fox Production Businesses
The acquisition includes 21st Century Fox’s renowned film production businesses, including 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. It also includes FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group. Disney and 21st Century Fox also entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks.
21st Century Fox Portfolio Spin-Off
Yesterday, 21st Century Fox completed the spin-off of a portfolio of 21st Century Fox’s news, sports and broadcast businesses, including the FOX News Channel, FOX Business Network, FOX Broadcasting Company, FOX Sports, FOX Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network, and certain other assets and liabilities, into Fox Corporation.
Are you excited to see what’s in store?
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