We’ve gone over whatever information we were able to glean on the landmark deal between Disney and 21st Century Fox for the former to acquire the latter’s entertainment assets and then some. After several speculations here on Disney Movies List about just what could be in store for when the agreement is done, we’re now giving you the big news. This Thursday, Disney finally put their final word on the whole affair when they officially declared their intention to take on key entertainment subsidiaries of the Fox media empire. They even confirmed the final price for what they’ll be acquiring.
December 14 is the day when the entertainment media landscape from Hollywood and beyond began to be poised on a precipice of great change, courtesy of The Walt Disney Company’s announcement of buying a dramatically huge part of 21st Century Fox. Said acquisitions include the fourth-largest US movie studio, 20th Century Fox. Fox TV, the National Geographic Channel, FX Networks and Fox Sports are also part of the massive package that the House of Mouse is paying no less than $52.4 billion for. It gives Disney a gigantic boost to their already expansive content portfolio that is part of their ongoing strategy to become a serious player in the streaming service market.
Aside from the studio, TV networks and other content providers, Disney also acquires Fox’s 30% share in the subscription video on demand platform Hulu. This, combined with the House of Mouse’s own 30% share via the Disney-ABC Television Group, would give them greater control over Hulu over the remaining partners Comcast and Time Warner. Stakes in the European pay-TV network Sky are also part of the acquisition. This gives Disney plenty of tools by which they can survive the decreasing numbers of TV and cable viewers by establishing a presence in the direct-to-consumer streaming services that is all the rage in this day and age.
Not everything Fox has gone over to Disney however. Before negotiations are closed, 21st Century Fox will reorganize their Fox Broadcasting Group. Owner and media mogul Rupert Murdoch explains that a new company will be formed out of Fox News, Fox Business and other sports networks that Disney did not buy up. What’s left of 21st Century Fox will then merge with News Corporation, from which it had originally split off with back in 2013.
While Disney is undergoing the integration of its new assets, Chairman and CEO Bob Iger will remain at his post until 2021. In hindsight, it’s now gut-busting hilarious how a 1998 episode of The Simpsons, a Fox TV long-runner, “predicted” that Disney will end up owning 20th Century Fox, and more.