Friday, June 22, 2018

Disney Acquires Fox For $71.3 Billion

The Walt Disney Company today announced it has signed an amended acquisition agreement with Twenty-First Century Fox, Inc. for  $71.3 Billion:

"The acquisition of 21st Century Fox will bring significant financial value to the shareholders of both companies", said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company, "and after six months of integration planning we’re even more enthusiastic and confident in the strategic fit of the assets and the talent at Fox.

"At a time of dynamic change in the entertainment industry, the combination of Disney’s and Fox’s unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content...

"...expand our direct-to-consumer offerings and international presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world..."

As announced in the original acquisition agreement, the businesses to be acquired by Disney include 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000 Pictures; Fox‘s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Sports Regional Networks; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Sky plc, and Tata Sky.

The acquisition will occur immediately after the spin-off by 21st Century Fox of the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company referred to as New Fox. 

Disney believes the transaction has a clear and timely path to regulatory approval...

Click the images to enlarge...