Thursday, 14 December 2017

Disney Acquires 21st Century Fox Assets For $52.4 Billion

Walt Disney Company announced that it will acquire 21st Century Fox, including Twentieth Century Fox movie and TV studios, most of its cable networks, international assets like Star and Sky and its stake in Hulu for $52.4 billion. The deal will be an all-stock transaction.



The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights and a bid by Disney to bolster its core TV and film businesses against an onslaught of new competitors in the content arena.

According to Disney, all of these new assets will build on the company's "commitment to deliver the highest quality branded entertainment," as well as fuel Disney's ability to "create more appealing content." The company also references its intent to deliver a "more compelling" entertainment experience to Disney consumers "whenever and however" they choose.

Specifically, Disney said that the Fox assets will even accelerate its use of certain technologies, including the recently acquired BAMTech platform, which it aims to use for its solo-streaming service. The company said these advancements will create more ways for Disney storytellers to share content with audiences, while providing those audiences more choices for how they consume film and TV.

The Murdochs will retain control of what’s left at Fox, which includes Fox Sports, Fox News and Fox Television Stations.

No comments:

Post a Comment