Okay, let’s go over this one more time. In December 2017, Disney shocked the world by announcing its bid to acquire key media assets from Fox for $71 billion. The following year they beat off a competing offer from Comcast, and began work gaining approval from the world’s antitrust regulators.
By the time 2019 rolled around, both Disney and Fox would say to the public that the deal could be finalized in a matter of time. CNN reports that the time has been nailed down to an exact date. Brace yourselves: the Fox asset acquisition’s happening a week from now.
Effective March 20, certain media organs from Rupert Murdoch’s 21st Century Fox – the 20th Century Fox film studio, FX, Nat Geo, a portion of controlling stake in Hulu, et cetera – will all belong to Disney in an entertainment media masterstroke spearheaded by CEO Bob Iger.
In terms of pros, for instance Disney might finally reclaim the film rights to Marvel’s other big franchise aside from the Avengers: the X-Men. In terms of cons, well, the consolidation of the Fox assets into the Disney umbrella will certainly see some organizational restructuring, and layoffs. Around 5,000 people from both sides could lose their jobs according to analysts.
Meanwhile, the remnants of 21st Century Fox will be reorganized into simply “Fox,” centered on the Fox Network, Fox News and Fox Sports. A few more global regulatory approvals are pending before the big day comes one week from now.
In addition, Disney must also sell off its acquired 22 Fox-related regional sports networks to satisfy antitrust conditions, considering the media giant already owns ESPN.