Disney Closes $52.4 Billion Deal With Fox
von Clayton Davis
Overnight, Disney finalized a deal to acquire most of Rupert Murdoch's Fox empire.
The details are outlined by CNN Money. The $52.4 billion deal joins together the two companies for most television, sports, and film assets.
When the deal closes at the end of June, Disney will effectively own 21st Century Fox, Fox Sports, FX, and the Fox Television Studio. In addition, Disney acquires Fox's share in Hulu, and the European-based Sky TV.
Not included are the Fox broadcasting network, Fox New Channel, or Fox Business Network. Those networks will transfer to a new company.
The first part of the Disney/Fox acquisition is Sky. That deal is expected to close in June. The rest of deal will undergo a full regulatory review and will likely not be completed until at least the end of 2018. Even if regulators do not approve the transaction, Disney will still take over 39% of Sky in June, making the company a major player in European television.
Assuming the deal is approved, the company will own both ESPN and Fox Sports, National Geographic, and a number of regional sports networks. Their properties will likely include the X-Men, the Simpsons, Avatar. Disney also takes ownership of the one Star Wars film that has eluded their grasp: A New Hope.
CEO and Chairman Bob Iger will receive a contract extension. Iger was due to retire in 2019, but his contract will be extended until at least 2021. James Murdoch, son of Fox mogul Rupert Murdoch said:
I'm convinced that this combination, under Bob Iger's leadership, will be one of the greatest companies in the world. I'm grateful and encouraged that Bob has agreed to stay on, and is committed to succeeding with a combined team that is second to none.
What do you think about the Disney/Fox deal? Are you optimistic or concerned? Comment below and share your thoughts!
The details are outlined by CNN Money. The $52.4 billion deal joins together the two companies for most television, sports, and film assets.
When the deal closes at the end of June, Disney will effectively own 21st Century Fox, Fox Sports, FX, and the Fox Television Studio. In addition, Disney acquires Fox's share in Hulu, and the European-based Sky TV.
Not included are the Fox broadcasting network, Fox New Channel, or Fox Business Network. Those networks will transfer to a new company.
The first part of the Disney/Fox acquisition is Sky. That deal is expected to close in June. The rest of deal will undergo a full regulatory review and will likely not be completed until at least the end of 2018. Even if regulators do not approve the transaction, Disney will still take over 39% of Sky in June, making the company a major player in European television.
Assuming the deal is approved, the company will own both ESPN and Fox Sports, National Geographic, and a number of regional sports networks. Their properties will likely include the X-Men, the Simpsons, Avatar. Disney also takes ownership of the one Star Wars film that has eluded their grasp: A New Hope.
CEO and Chairman Bob Iger will receive a contract extension. Iger was due to retire in 2019, but his contract will be extended until at least 2021. James Murdoch, son of Fox mogul Rupert Murdoch said:
I'm convinced that this combination, under Bob Iger's leadership, will be one of the greatest companies in the world. I'm grateful and encouraged that Bob has agreed to stay on, and is committed to succeeding with a combined team that is second to none.
What do you think about the Disney/Fox deal? Are you optimistic or concerned? Comment below and share your thoughts!
Read the full article
Clayton Davis
Keine Verbindung
Verbindung wird wiederhergestellt
Etwas ist schiefgelaufen
Wir sind gleich wieder da