Disney Spends $52.4 Billion to Acquire Fox Properties
CBJ — Walt Disney is buying a sizable portion of Rupert Murdoch’s company 21st Century Fox in a deal valued at $52.4-billion. The transaction will immediately reshape the communications’ landscape of film, television, cable and reciprocal entertainment networks and companies not only in the U.S., but with a major impact worldwide.
Disney will be acquiring such high-profile assets, such as:film studios Twentieth Century Fox and Fox Searchlight Pictures;TV production units Twentieth Century Fox Television, FX Productions and Fox21;Twenty-two regional Fox Sports channels; TV channels FX and the National Geographic Channel; and a minority stake in Hulu, a popular online streaming service. On a global scale, Disney is also getting the Star TV network in India and a stake in European pay-TV provider Sky.
Disney’s buyout doesn’t include several Fox-branded channels including Fox News, Fox Business Network, FS1, FS2 and Big Ten Network. Those will instead be spun out into a newly listed public company with a much narrower focus on news and sports, and less entertainment programming and movies.
Murdoch’s stable of newspapers, including the Wall Street Journal, are unaffected, as they are largely owned by a different subsidiary in his empire, News Corp.