Disney Officially Aquires Fox Properties
The saga is finally complete.
While we have known about it for quite awhile, Disney attempted to buy many of Fox’s entertainment assets in 2017, but had opposition from Comcast which raised the price. In the end, the House Of Mouse had too much buying power to be refused, winning the bidding war with an amount of $71.3 billion dollars. That is a lot of cheese (no mouse pun intended).
The press release read-
BURBANK, Calif. and NEW YORK, New York, March 19, 2019 – The Walt Disney Company (NYSE:DIS) and Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF), in connection with Disney’s acquisition of 21CF (the “Acquisition”), announced today that the per share value of the Merger Consideration (as defined below) has been calculated in accordance with the Merger Agreement (as defined below) to be $51.572626 (the “Per Share Value”). The Acquisition will become effective at 12:02 a.m. Eastern Time tomorrow, March 20, 2019.
We will most likely see a lot more news on everything Disney acquired tomorrow, but for now we can read over a bunch of things already posted by Disney.
The acquisition includes 21st Century Fox’s renowned film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group. Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks.
Meanwhile there are a ton of questions. How will the new X-Men be formed and who will play them? How will Family Guy and the Simpsons change? Will the Fantastic Four be a part of the deal? And most importantly, is the Alien Queen a Disney Princess?
Hopefully we will get answers to these questions and more. In any case stay tuned to Fan Fest News for more news, analysis, and opinion pieces as we find out more and more about the Disney-Fox merger. I will leave you with this magnificent tweet from Ryan Reynolds-
Feels like the first day of ‘Pool. pic.twitter.com/QVy8fCxgqr
— Ryan Reynolds (@VancityReynolds) March 19, 2019
David Burdette is a gamer/content creator from TN. He loves Playstation, Marvel, Star Wars, and many other fandoms. You can check out his content at YouTube.com/SplitEnd89 or on Twitter @SplitEnd89.
