Disney receives final approval for $71Bn 21st Century Fox acquisition

By Akshay Kedari  Date: 2019-03-22

Disney receives final approval for $71Bn 21st Century Fox acquisition
  • The acquisition met success after it received the antitrust regulators’ final approval.
  • The deal covers the entirety of 21st Century Fox movie studio unit, a 30% stake in Hulu as well as the Fox Television Group.

The Walt Disney Company (Disney), a world-renowned American multinational entertainment & mass media conglomerate, has reportedly announced the successful acquisition of New York-based mass-media firm, 21st Century Fox.

Reports cite, the merger went through at approximately 12.02 am (EST), which gave Disney complete control over several 21st Century Fox entities, including the entirety of 21st Century Fox movie studio unit, a 30% stake in Hulu as well as the Fox Television Group.

According to a press release by Walt Disney, among other entities, the Disney acquisition also includes Fox Family & Fox Animation, Fox 2000 Pictures, Fox Searchlight Pictures, National Geographic Partners, Star India, Fox Networks Group International, Endemol Shine Group & Tata Sky.

The Chief Executive Officer of Disney, Bob Iger stated that the acquisition is a historic & extraordinary moment for the company, one that would be generating significant and long-term value for Walt Disney as well as its shareholders. Iger further added that the amalgamation of both parties’ proven talent & extensive creative content would be giving birth to a pre-eminent global-entertainment firm that is well positioned to pilot an incredibly transformative & dynamic era.

Disney’s primary focus would be upon 21st Century Fox’s movie assets, its portfolio of television shows & films as well as its stake in Hulu. Iger had also previously mentioned Disney’s plans to incorporate Fox’s content in the company’s business plans, which also included the possibility of merging Fox franchises like X-Men & Deadpool into the Marvel cinematic universe and facilitating Hulu streaming services internationally.

According to reports, with the completion of the massive acquisition, Walt Disney now has control of approximately 40% of the current market.

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Google to offer cyber insurance to cloud users with Munich Re, Allianz

Google to offer cyber insurance to cloud users with Munich Re, Allianz

By Akshay Kedari

Google, Allianz, and Munich Re have teamed up to launch a Risk Protection Program. This program intends to reduce cloud security risks and provide cyber insurance designed for Google Cloud users. Google Cloud, Munich Re, Allianz Global Corporat...

Space startup GITAI secures USD 17.1 million in Series B funding round

Space startup GITAI secures USD 17.1 million in Series B funding round

By Akshay Kedari

Japanese space technology startup GITAI has reportedly secured UDS 17.1 million through a Series B funding round which was led by SPARX Innovation from Future Co. Ltd. The round also saw participation from DCL Venture Growth Fund, EP-GB (Epson’...

Williams Racing and Acronis extend their cyber protection partnership

Williams Racing and Acronis extend their cyber protection partnership

By Akshay Kedari

Williams Racing, a British Formula One motor racing team, has announced to have renewed its technology partnership with a Switzerland-based leading cyber protection and software company Acronis International GmbH. As a part of the Official Cyber Pro...

Tesla planning to set up EV manufacturing facility in Karnataka, India

Tesla planning to set up EV manufacturing facility in Karnataka, India

By Akshay Kedari

American electric car company Tesla Inc. has reportedly signed an agreement to manufacture its electric vehicles in Karnataka, India after announcing an entry into the South Asian country in 2021. The company had established its Indian subsidiary cal...

Pandemic forces Heineken to recoup profits by cutting 8000 jobs

Pandemic forces Heineken to recoup profits by cutting 8000 jobs

By Akshay Kedari

The Dutch brewing company, Heineken N.V., has recently revealed its plans to cut around 8000 jobs in an attempt to restore its operating margins after it witnessed a sharp decline in its profit trajectory amid the COVID-19 pandemic. Moreover, it will...