Disney Has Just Bought 21st Century Fox
Disney, who are most known for the Mickey Mouse cartoon as well as the company who has just released a new Star Wars film has decided to purchase 21st Century Fox for a whopping $52.4 billion dollars. The studio, which is already one of the biggest in the world are now seemingly becoming bigger, with reports coming in that the huge deal is for all stock to acquire 21st Century Fox as well as other entertainment and sports assets from the Rupert Murdoch empire. The whole transition is expected to take at least 18 months.
It’s also come to attention that Disney cannot double up on certain entities, meaning the likes of Fox will still retain some of their networks. This means that Fox will now spinoff Fox Broadcasting Co., Fox Sports, Fox News, Fox Television Stations into a new company. This company is expected to have a revenue of around $10 billion and earnings of about $2.8 billion dollars. This means that Disney will still hold on to networks like ESPN and ABC including ABC News.
This has all come about because Disney are attempting to take on the streaming giants of the world like Netflix, as Disney will now own all movies and television shows past and present that have come out of Fox. It will provide a huge chunk of content that Disney can now pump into their own streaming services. Not to mention Disney will now own the lion’s share of Hulu.
It also means that Disney will now own movie franchises like The X-Men and The Fantastic Four, Avatar, Deadpool and the new Planet of the Apes movies. It also means that now all Star Wars movies will be owned by Disney as Fox still had ownership over Star Wars; A New Hope. Could we expect to see even more re-releases of the original Star Wars movies? Maybe some kind of 4K, Dolby Atmos versions. I think so. Star Wars is a huge money maker for Disney now with the release of the new movie just hitting cinemas in the UK.