Disney To Officially Purchase Fox’s Movie And TV Divisions For $52.4 Billion

The X-Men and Fantastic Four are joining the Marvel Cinematic Universe and Xenomorphs are now Disney princesses.

After weeks of negotiations, the Walt Disney Co. is officially moving forward with its plan to purchase assets of 21st Century Fox, including its movie and TV divisions, for $52.4 billion in stock, Disney announced on Thursday morning.

This means that Disney is set to take control of the 20th Century Fox movie and TV divisions and cable channels, including its back catalog of films and shows.

Not only will the film rights to X-Men, Deadpool, and the Fantastic Four revert back to Disney-owned Marvel, the studio now has ownership of James Cameron’s Avatar franchise, the Planet of the Apes, Kingsman, and a whole bunch of other movie franchises. Everything from the Fox network, including shows such as The X-Files, The Simpsons, and Futurama are also now under the Disney umbrella.

Additionally, Disney will also buy Fox’s majority stake in Hulu’s video streaming service. Disney had previously announced plans to create its own streaming service and take its content off Netflix. The expectation is that Disney will now utilize Hulu (and its 32 million users) in its future streaming plans.

https://geekireland.com/netflix-signs-game-changing-deal-with-disney/ Source: Geek Ireland

Disney CEO Bob Iger also announced that we will stay on at the company through 2021 (he was previously set to exit in 2019).

“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,” he said in Thursday morning’s announcement. “We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”

Fox News and Fox Sports are not included in the deal and will instead be rearranged “into a newly listed company that will be spun off to its shareholders,” according to Disney’s announcement.

At $52.4 billion, the purchase of Fox now represents Disney’s largest acquisition to date. The company previously shelled out $7.4 billion for Pixar in 2006, $4 billion for Marvel in 2008, and $4 billion for Lucasfilm and the Star Wars franchise in 2012.

Are you excited for the Disney-Fox merger or are you worried about Disney further monopolizing the film and television industries? Let us know in the comments!

Source: EW

Nick Steinberg (@Nick_Steinberg)

Nick Steinberg (@Nick_Steinberg)