Disney purchase 21st Century Fox
The mega deal between Disney and 21st Century Fox has finally been made official today. The $50 billion plus dollar deal sees Disney acquire key entertainment and assets from 21st century Fox including its film and TV studios.
The deal will also grow Disney’s stake in streaming site Hulu to 60%, and includes Fox’s FX and National Geographic cable channels, and 22 regional US sports networks.
Another key component, and likely the most talked about portion of the deal includes the rights of Marvel characters including X-Men, Fantastic Four, and Deadpool.
The Marvel comic book characters, which were sold to Fox years ago when the comic book publisher was struggling, were not included when Disney bought Marvel in 2009. Fans have been waiting for the Avengers to share screen time with Fox’s previously held superhero characters, and it now looks as if that will come to fruition.
Not all of 21st Century Fox’s assets will go to Disney however, as the company will retain Fox News, Fox Broadcasting Network, and Fox Sports 1, which will now be spun off into a new, independent company simply dubbed Fox.
The news comes days after Comcast, Disney’s biggest competition in the race to acquire 21st Century Fox, dropped out of the bidding – leaving Disney the opportunity to swoop in.
The buyout will still face regulatory approval, where it may face its biggest hurdle yet. While Comcast’s purchase of NBCUniversal was approved in 2011, the Trump administration has already looked to block AT&T’s purchase of Time Warner and could follow suit with this deal, meaning it could take up to a full year before we know if the deal.
Image credits: FOX