Today Disney’s CEO announced that they expect to close on its deal to buy most of 21st Century Fox “soon.” This comes from a report from Variety as CEO Bob Iger talked about the Fox and the upcoming Star Wars Galaxy’s Edge opening.
With this deal, Disney will get ownership of 20th Century Fox movie and television studio, Fox’s 22 regional sports channels, cable channels including FX and National Geographic, and Fox’s portfolio of international operations, including a fast-growing pay-TV service in India. The deal will also give Disney 60% ownership of Hulu.
The deal does not include Fox News, the Fox broadcast network, television stations, Fox Sports 1 and Fox Sports 2. His newspapers such as Wall Street Journal, New York Post, Times of London and a portfolio of Australian properties are housed in a second company, News Corp. Disney has also agreed to sell Fox’s 22 regional sports channels once they get ownership of them.
When this deal was first announced Bob Iger said “The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies, and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox,” said Robert A. Iger. “At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world.”
“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF’s iconic assets, brands and franchises with Disney’s will create one of the greatest, most innovative companies in the world.”
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