Cartoon of the Week: Disney to dominate the entertainment landscape
With Christmas coming, Disney thought about treating itself. For the holidays, the company is buying a huge chunk of 21st Century Fox for $52 billion.
This deal will combine two of the biggest players in Hollywood. As a result, Disney will get: 20th Century Fox, Fox 2000, Fox Searchlight movie and television studios, majority control (60%) of Hulu, big movie franchises, including X-Men, Avatar and Deadpool, TV franchises, like The Simpsons, This Is Us and Modern Family, international media businesses, including 350 channels in 170 countries, Star India and 39% of the European pay-TV operator Sky, FX and National Geographic Partners, Fox’s regional sports networks, including YES and even $13.7 billion of Fox‘s debt. The list is still on.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.
The deal won’t probably close until 2019 though because it still needs regulatory approval
Will the U.S. Justice Department bless the combination?