Finally, the Mighty Mouse took over Fox. Check out how Disney buys Fox.
Media and Entertainment world is always on a roller-coaster ride. Let it be technology advancements, groundbreaking TV series, gigantic Hollywood blockbusters, unexpected box office figures of most anticipated high budget films and more – it continuously comes up with something new. Latest in the merger and acquisition category is, Disney buys Fox. Well, not the entire 21st Century Fox, but some of its major business segments for whooping $52.4 billion.
The Walt Disney Company and 21st Century Fox (21CF) – these are mammoth brands that need no introduction. Both have their own share in Media and Entertainment franchises, with their own set of followers and advertising agencies. These two stalwarts and long time rivals joins hands with this historical media merger. The talks were going on from a fairly long time, which finally confirmed on 14th December, Thursday 2017.
For payment of $52.4 billion from Disney, 21st Century Fox are releasing following business verticals of film and TV studios to Disney.
- Fox broadcast networks
- 20th Century Fox Movie studio
- 20th Century Fox Television (broadcast networks, news channel, business channel)
- Fox’s share in Hulu (group of US cable networks including National Geographic and FX channels)
- Varies percentage of stakes in several international satellite channels (including Star TV and Sky)
21st Century Fox chairman Rupert Murdoch will continue with Fox studio and some national sports channels.
Robert Iger, CEO and Chairman of Disney, will be handling operations after this merger. On the political note, he is in news for 2020 president election as a candidate. After the merger, management operations and executions will be much more streamlined for both, Robert Iger and Rupert Murdoch, in their respective sectors.
Mighty Disney is getting insane. After Disney buys Fox, together they cover around 40% of Hollywood cinema. Have a look what how much it owns currently.
- Pixar Animation Studios
- Marvel Entertainment
- 21st Century Fox (some eminent business verticals)
This one is the biggest acquisition of 2017. Disney is also planning to go in its own streaming business (OTT – Over The Top) to compete with Netflix, Amazon Prime Video and others. Having access to huge content of Fox Media and Entertainment family, Disney will have smooth ride in start up.