Entertainment

Disney buys $53B of Fox Assets

The Walt Disney Company, probably the biggest media company in the world has just acquired a huge part of 21st century Fox. Part of the assets bought from Fox are its studios, part of the Sky news network, and regional sports networks. Disney will also get to control the majority of the streaming service Hulu, FX, and National Geographic.

Some of the big series and film franchise now under Disney are Avatar, Modern Family, The Simpsons, and many Marvel superheroes. The total purchase of these properties is around 66 billion dollars since Fox used to owe Disney 13 billion. This deal makes Disney a competitor to become the biggest company around the world.

 

Some networks which Fox will still own are sports cable networks, Fox News, Fox business and a few smaller ones. The transaction of all these rights will take 12-18 months to go through and they might be delayed even more. Recently AT&T acquired Time Warner for 85 billion dollars but the United States department of Justice hasn’t let the deal be completed because they fear consumer prices might rise too much. The purchase of important properties from Fox make Disney’s dominance over the media industry evident.Screen Shot 2018-01-18 at 12.41.27 PM

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