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December 14, 2017

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Disney To Buy Parts Of 21st Century Fox For $52.4b

ROBYN BECK / AFPWalt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion (44.3 billion euros) in stock, solidifying its position as a producer of entertainment content as it faces new rivals from Silicon Valley.
The deal will see Disney acquire film and television studios, cable entertainment networks and international TV businesses, bringing popular entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic into Disney’s portfolio.
21st Century Fox’s television stations and Fox News channel will be spun off before the sale, however.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Disney’s chief executive Robert Iger in a statement.
Iger, who was previously expected to step down in 2019, will now stay on through 2021.

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December 14, 2017

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