Wednesday, 19 June, 2019


Disney Reportedly Nears Deal To Acquire Assets From 21st Century Fox

Century Fox Studios flag flies over the company building in Los Angeles Disney Reportedly Nears Deal To Acquire Assets From 21st Century Fox
Conrad Doyle | 15 December, 2017, 03:56

Reuters reported Monday that Comcast has dropped out of the running to acquire select assets of 21st Century Fox, leaving Disney in the "pole position" to seal a deal. And last week, the two studios stepped closer to making it happen.

The deal, which will reportedly be announced before the NY stock exchange opens on Thursday, or around midday United Kingdom time, marks a turning point in an empire building career that started in the 1950s and is expected to lead to a split in the Murdoch family dynasty. Fox shares ended trading on Wednesday at $32.75, giving it a market capitalization of around $60 billion. More on the story below.

Under the deal, Disney would take on Fox's film and television studio, its cable TV networks like FX and NatGeo, and its 30 percent stake in Hulu.

Rupert Murdoch has made the strategic move to secure his family's legacy, after missing out on sealing an $80bn deal to takeover Time Warner to build the scale needed as film attendance falls and new rivals emerge including Apple, Amazon, Google and Netflix.

It would also herald the return of some of Marvel's IPs, such as X-Men, Fantastic Four, and Deadpool, which could potentially see them folded into the Marvel Cinematic Universe in the future. It would also allow them to have full rights to the original Star Wars trilogy, which was distributed by Fox. Internationally, Disney would pick up Fox's 39% stake in Sky, the Star network in India and the Fox International Channels business, which airs shows such as The Walking Dead. If Disney were to continue making family friendly films or films that can reach a wide audience after they acquired Fox, it would mean the end for the R-rated material that we have become accustomed to seeing from Fox. Australian-born Murdoch inherited his father's newspaper business in 1952 and transformed it over many years, acquiring premiere properties such as the Wall Street Journal, the London Times and the 20th Century Fox movie studio. What will this mean for those who are now working on those same films and TV shows?

Neither studio would comment on the status of the deal.

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