Disney officially acquires Fox for USD71 billion as of today
Writer: Florey DM
The fox is in the mouse's house now.
20 Mar – As of 12:02 a.m. ET. 20 March 2019 in the East Coast of USA, 21st Century Fox will be fully acquired by Disney.
More than a year since it was first announced in late 2017 that Disney will be acquiring Fox, the deal will finally be sealed when the USD71 billion acquisition is completed today.
"Combining Disney's and 21st Century Fox's wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era," said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company, in a press statement.
The press release reveals that Disney will acquire USD19.8 billion of cash and assume approximately USD19.2 billion of debt of 21st Century Fox.
21st Century Fox's film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox's television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox's interests in Hulu, Tata Sky and Endemol Shine Group are part of the acquisition
It also stated: "Earlier today, 21st Century Fox completed the spin-off of a portfolio of 21st Century Fox's news, sports and broadcast businesses, including the FOX News Channel, FOX Business Network, FOX Broadcasting Company, FOX Sports, FOX Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network, and certain other assets and liabilities, into Fox Corporation."
The acquisition means that now fans will have to brace themselves to see what Disney will bring to major franchises such as "X-Men", "Avatar", "Planet of the Apes", "The Simpsons" and "The X-Files".
(Photo source: Screen Rant)
Cinema Online, 20 March 2019