Disney has closed its $71bn (£54bn) acquisition of Rupert Murdoch’s entertainment business in a deal that unites franchises including Cinderella, The Simpsons and Star Wars under one corporate roof to create a media behemoth of unprecedented scale.
The Walt Disney Company closed its acquisition of 21st Century Fox shortly after midnight New York time on Wednesday.
Part - Deal - Disney - Fox - Film
As part of the deal, Disney will absorb the Fox film and TV studios, the FX networks, National Geographic and the Indian TV giant Star India in a huge boost to its content.
It plans to launch its new streaming service Disney Plus later this year as it challenges Netflix for future audience share.
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Before the takeover, Disney already boasted a fearsome catalogue of content, including its classic cartoons, Star Wars and many of the Marvel characters.
After purchasing Fox, it will be able to add the likes of X-Men and Deadpool to its portfolio and take on Netflix and Amazon.
Deal - Disney - Control - TV - Shows
The deal also helps Disney further control TV shows and movies from start to finish – from creating the programmes to distributing them though television channels, cinemas, streaming services and other ways people watch entertainment. Disney would get valuable data on customers and their entertainment-viewing habits, which it can then use to sell advertising.
In a statement, Robert Iger, the chairman and chief executive officer of the Walt Disney Company, hailed the move.
Moment - Value - Company - Shareholders
“This is an extraordinary and historic moment for us – one that will create significant long-term value for our company and our shareholders.
“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the pre-eminent global entertainment company, well-positioned to lead in an incredibly dynamic and transformative era.”
Move - Number - Hollywood - Studios - Era
The move instantly cut the number of major Hollywood studios, ending the era of the “Big Six”. Warner Bros, Universal, Sony Pictures and Paramount Pictures now make up...
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