Breaking disney acquire 21st century fox assets 52 4bn
A significant event in the world of entertainment!
On December 14, 2017, The Walt Disney Company announced that it had reached a deal to acquire most of the assets of 21st Century Fox for $52.4 billion. The acquisition was completed on March 20, 2019.
Here's a breakdown of the deal:
What was acquired:
- 21st Century Fox's film and television studios, including 20th Century Fox, Fox Searchlight Pictures, and Fox 2000 Pictures
- Fox's cable networks, including FX Networks, National Geographic, and Fox Sports Regional Networks
- Fox's international operations, including Fox Networks Group International and Fox Sports International
- Fox's stake in the streaming service Hulu
- Fox's assets in the UK, including Sky plc, a leading European pay-TV provider
What was not acquired:
- Fox's news and business networks, including Fox News Channel, Fox Business Network, and Fox Sports 1
- Fox's regional sports networks, including YES Network and SportsTime Ohio
- Fox's stake in the streaming service Roku
Why did Disney acquire Fox?
The acquisition was a strategic move by Disney to expand its portfolio of film and television content, as well as its global reach and distribution capabilities. With the acquisition, Disney gained:
- A significant library of film and television content, including popular franchises like Avatar, The Simpsons, and Star Wars
- A larger presence in the global television market, with a stronger foothold in Europe and Asia
- Increased scale and resources to compete with other major media companies, such as Comcast and AT&T
What happened to the acquired assets?
After the acquisition, Disney integrated the acquired assets into its own operations. The 20th Century Fox film studio was rebranded as 20th Century Studios, and the Fox Searchlight Pictures film studio was rebranded as Searchlight Pictures. The FX Networks and National Geographic cable networks were integrated into Disney's cable networks division.
The acquisition also led to significant changes in the leadership and operations of Disney's film and television divisions. Bob Iger, Disney's CEO at the time, stepped down in February 2020, and was succeeded by Bob Chapek.