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    

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

Alaskans to use tax credits to aid energy efficiency & air quality
Alaskans to use tax credits to aid energy efficiency & air quality
By Akshay Kedari

Local government authorities in Alaska have reportedly approved a bill that allows the creation and utilization of property tax credit to enhance air quality and energy efficiency. Sources cite that the Senate has accepted the bill with a 17-1 vote a...

Liteye gets $3M production order as part of US Defense Industrial Base
Liteye gets $3M production order as part of US Defense Industrial Base
By Akshay Kedari

Liteye Systems, a renowned leader in CUAS (Counter Unmanned Aerial Systems), has reportedly announced the receipt of an additional specialty production order for approximately $3 million. The contract would further make sure delivery of hardware for ...

Turning Point Brands offers free sanitizer bottles to combat COVID-19
Turning Point Brands offers free sanitizer bottles to combat COVID-19
By Akshay Kedari

From offering medical aids to donating funds, many companies worldwide have come forward to help governments and people to fight the spread of the novel coronavirus. Recently, Turning Point Brands, one of the leading tobacco product manufacturers in ...

Isracann enters JV agreement to develop cannabis production in Israel
Isracann enters JV agreement to develop cannabis production in Israel
By Akshay Kedari

Isracann Biosciences Inc. has recently entered a joint venture agreement for phased partnership of 2 near-term farm operations at the Sharon Plain region in Israel. This JV agreement will provide significant revenue generating opportunities to the Is...

Russia to track people at risk of COVID-19 through their geolocation
Russia to track people at risk of COVID-19 through their geolocation
By Akshay Kedari

Mikhail Mishustin, the Russian Prime Minister, recently gave the regional authorities 5 days for developing a system that can track citizens by using mobile phone geolocation data. The move is aimed at tracking people who have come into contact with ...