Walt Disney buys Murdoch’s Fox for $52.4bn

Bob Iger along with Rupert MurdochImage copyright
Disney

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Disney chief executive Bob Iger along with Rupert Murdoch

Walt Disney has agreed to buy 21st Century Fox’s entertainment assets for a total $52.4bn (£39bn).

The deal includes Fox’s 39% stake in satellite broadcaster Sky, along with the 20th Century Fox film studio, Disney announced.

Fox’s remaining assets, including Fox News along with Sports, will form a brand new company.

The deal ends more than half a century of media expansion by Fox owner Rupert Murdoch, who is usually 86 years old.

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He turned an individual Australian newspaper he inherited coming from his father at the age of 21 into one of the earth’s largest news along with film empires.

Mr Murdoch will still retain control of News Corp, the news publishing group that will split away coming from 21st Century Fox in 2013 along with which owns the Times along with the Sun newspapers.

Disney’s purchase will add to its huge back catalogue, with high-grossing films such as the original Star Wars movie, the Marvel superhero pictures, Avatar along with Deadpool, as well as TV hits including The Simpsons.

Disney chief executive Bob Iger said that will Disney was “incredibly excited” about the acquisition, along with that will that will was an “opportunity to expand iconic franchises”, including Avatar along with Star Wars.

“May the Force be with us all,” Mr Iger said.

Succession question

Mr Murdoch’s shift to selling assets rather than buying them has come as a surprise to those who expected him to hand over the businesses to his sons, James along with Lachlan.

James Murdoch had been widely tipped to be given a senior role at Disney. yet Mr Iger told not bad Morning America: “James along with I will be talking over the next couple of months. He will be integral to the integration process. He along with I will be discussing whether there is usually a role for him or not at our company.”

Mr Iger will remain in his role until the end of 2021.

that will is usually not clear how the deal will be received by US competition regulators.

The US Department of Justice recently sued to block AT&T’s $85.4bn deal to buy Time Warner, on the basis that will that will will raise prices for consumers along with competitors.

Fox’s proposed deal to buy the remainder of Sky is usually being already investigated by the UK Competition along with Markets Authority (CMA), which is usually due to publish provisional findings in January.

The BBC understands that will the Disney deal will not alter that will investigation.

Fox is usually selling assets including its FX along with National Geographic cable channels along with media company Star India.

Disney also will buy Fox’s stake from the Hulu video streaming service, giving that will majority control of a competitor to Netflix.

Hulu is usually also partially owned by Comcast along with Time Warner.

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