The sale of 21st Century Fox to Disney is officially happening. A recent press statement from Disney has confirmed that the entertainment Goliath is acquiring Fox’s entertainment assets for a whopping $52.4 billion.
This sale will include both Fox’s film and television studios, cable entertainment networks FX, FXX, and Nat Geo, and Fox’s international TV assets. Disney’s stake in Hulu will now become a controlling interest, and the studio will also have a 39% ownership of Sky TV in Europe. The statement also goes on to note that Disney CEO Bob Iger will remain in charge through to 2021.
The move also opens the door for the Marvel Cinematic Universe. Could we see the Fantastic Four, X-Men, and Deadpool pop up in future Avengers films? Everything is on the table with this new merger. Disney says the agreement will allow it to reunite these characters “with the Marvel family under one roof and create richer, more complex worlds of inter-related characters and stories that audiences have shown they love.” Marvel is already planning to overhaul the MCU after the studio’s “Phase Three” arc.
In a recent statement, Iger said: “The acquisition of this stellar collection of businesses reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before. We’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”
Disney plans to launch its very own streaming service in 2019, set to compete with Netflix. With both the Disney and Fox film/TV libraries to beef it up, Netflix is set to encounter some potentially strong competition.
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