CEO Confirms That Disney Will Acquire Most of Fox in Game-Changing Deal

Today, Disney has finally announced its acquisition of a major chunk of 21st Century Fox, in a deal that will see the entertainment media landscape change dramatically.

The deal, which has officially been valued at $66.1 billion (including an assumption of debt), will see Disney control an overwhelming percentage of the entertainment industry, with a foot in every area. This agreement includes Fox’s expansive film and television studios, as well as FX and National Geographic cable networks, regional sports networks, their 39% stake in UK television provider Sky and all its international cable networks.

Disney will pay $52.4 billion in stock for Fox assets in an all-stock deal that will leave Fox’s investors owning a 25% share of Disney.

Bob Iger, CEO of Disney, said in an interview on Good Morning America, that this deal will give Disney a “much larger international footprint”, enabling it to “use cutting-edge technology” which is increasingly more important in the media entertainment industry. Iger will continue in his role through to the end of 2021.

While there are still a lot of details to be worked out before the deal can be completely finalised, you can read all the financial details and sale parameters in Deadline’s overview.

As for the continuation of Marvel‘s R-rated box office blockbusters, like Deadpool and Logan, Iger was pretty non-committal:

Though, we have to remember that this deal is still in the early stages, and therefore it’s difficult for either company to confirm details.

Watch Iger on Good Morning America below:

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Lucy Cale

Written by: Lucy Cale

Lucy Cale is a writer, cinephile and cosplay enthusiast, who hopes to become a professional screenwriter. Failing that, a jedi.

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