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Disney is taking over 21st Century Fox to reshape media industry for $52.4 Billion

Disney is Taking Over 21st Century Fox

Disney is buying the most of 21st Century Fox via a deal aiming at reshaping the media industry. On the way, Fox will benefit in coming up with market competitions against the likes of Netflix. It is an all-stock deal with a tag of $52.4 billion.

Disney is on a run of buying ownership of several properties like a U.S. movie studio, TV channels like Nat Geo and FX, majority of streaming services, and many more, including the recent Fox deal.

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While the partnership benefits 21st Century Fox, it is more broadly indicative towards a potential media business transformation in coming future market. The deal is to be subject to regulatory approval and will take about a year to close.

The agreement states Disney’s takeover of Fox’s studio and TV production companies, 20th Century Fox Film Corporation, Nat Geo, regional sports networks, and stakes in Hulu and Sky. Fox is keeping its news divisions, broadcast networks, local stations, and the cable channel Fox Sports.

BTIG media and technology analyst Richard Greenfield said that the deal is an “absolutely brilliant move by the Murdoch family,” referring to the benefits added to Fox’s Chief Executive Rupert Murdoch’s legacy.

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In his words, “This is the perfect time to be getting out. Selling now versus waiting for the bundle, or God forbid an Apple or Amazon start buying sports rights, the whole cable bundle could collapse. Trying to get out now is absolutely the right move.”

Talking about benefits, Disney will enjoy doubling its stake in Hulu, ideally being the majority owner. Adding to that is Disney’s plan to launch its own streaming services in 2019. This further leads to a dynamic combo of its own and Fox’s movie, TV, and sports contents; ultimately announcing war in the market.

Source: Fox2now

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