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

OnePlus deepens integration with OPPO to improve its product portfolio

OnePlus deepens integration with OPPO to improve its product portfolio

By Akshay Kedari

Chinese consumer electronics giant OnePlus Technology Co. Ltd. has officially merged with its sister company OPPO in a bid to develop better products and improve its software suite. OnePlus will however continue to operate as an independent brand des...

Uberall bags USD 115 million in funding; to acquire MomentFeed Inc.

Uberall bags USD 115 million in funding; to acquire MomentFeed Inc.

By Akshay Kedari

Berlin-based startup Uberall has reportedly raised USD 115 million in a funding round led by Bregal Milestone, with participation from United Internet, Level Equity, and Uberall management. Simultaneously, the company is set to acquire MomentFeed Inc...

Google Cloud Marketplace to host Unbxd product discovery solutions

Google Cloud Marketplace to host Unbxd product discovery solutions

By Akshay Kedari

Leading AI-powered e-commerce product discovery solution company Unbxd Inc. has announced its availability on Google Cloud Marketplace. Brands and retailers hosted on Google Cloud will now be able to leverage a unified billing approach, deeper produc...

Apple’s upcoming iPad Pro might come with wireless charging and MagSafe

Apple’s upcoming iPad Pro might come with wireless charging and MagSafe

By Akshay Kedari

The new iPad Pro model will have a glass back to accommodate wireless charging. Rumors have it that Apple is also exploring reverse wireless charging for iPads. According to reliable sources, Apple Inc. might include a wireless charging feature...

Top organizations unite for Covid-19 vaccination drive in rural America

Top organizations unite for Covid-19 vaccination drive in rural America

By Akshay Kedari

Reportedly, several organizations are joining forces to increase the usage of Covid-19 vaccines among people residing in rural areas across America. The first of its kind and allegedly the largest public vaccine education initiative in rural America...