Written By: Sean McDonough
On December 14, 2017, Disney had purchased 21st Century Fox and other entertainment and sports assets owned by Rupert Murdoch; The owner of 21st Century Fox. This was the first historical union of Hollywood heavyweights and a bid for Disney to increase its core TV and businesses with its other competitors.
Some of the key elements to this transaction include; The deal values for 21st Century Fox assets in the transaction at $66.1 billon, Disney CEO Chairman Bob Iger has extended his contract with the company for another two years, 21st Century Fox will receive 0.2745 of Disney’s shares, the 20th Century Fox lot in Century City will also remain with the spinoff Fox company.
21st Century Fox will continue to pursue its acquisition of the remaining 61% stake in Euro Satcaster Sky, Disney expects to realize $2 billion in cost savings from combining Disney and Fox’s overlapping with the two-year closing and Disney expects the regulatory review of the acquisition to take as long as 18 months.
The Acquisition of this collection of business from 21st Century Fox reflects the increasing consumer demands for a rich diversity of entertainment experiences. For example, the fans of Marvel, which has been owned by Disney since 2009, have not received favorable reviews of the Marvel films that have been released by 20th Century Fox like the X-Men and Fantastic Four, while only Deadpool remains with a favorable review, because of its crude humor it shares with its comic book counterpart. But with this purchase Disney now owns Avatar after making a ride based off of the movie for its Disneyland theme park; Disney now also owns Fox’s long running animated series, The Simpsons. Many people are also hoping that with the purchase of Disney acquiring 21st Century Fox to hope that all turns out well.