FOX Agrees Merge With Disney After New $71 Billion Bid


By

on

in

, ,

Earlier today Disney rushed out a new $1.3 billion deal to outbid Comcast to buy FOX. Now FOX’s Board has officially agreed to sell most of FOX to Disney.

“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.”

“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, Chairman and Chief Executive Officer, The Walt Disney Company. “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.”

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.

You can read the full Disney press release HERE and the FOX press release HERE.

Did you know we now have a FREE app for iOS, Android, and Amazon Fire? Click HERE to download our app.

Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like http://Amazon.com, streaming services, and others. Affiliate links help sites like Cord Cutters News, LLC stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.