The Disney-Fox Deal is Officially Complete

23 Mars, 2019, 01:48 | Auteur: Auguste Feret
  • Disney's takeover of Fox will see it take on 15,400 Fox staff even as it strives to achieve US$2 billion in cost savings over the next two years. The new and smaller Fox Corp will keep about 7,000 staff

The mega-deal sees Disney absorbing the Fox film and TV studios, the FX networks, National Geographic and Indian TV giant Star India in a huge boost to its content. But with the movie and television studios coming under control of Disney, numerous broadcast networks from Fox are remaining their own entity, including the national network FOX. FOX Class A common stock and FOX Class B common stock are now listed on the Nasdaq Global Select Market ("Nasdaq") under the symbols "FOXA" and "FOX", respectively.

Disney is also acquiring US$19.8 billion of cash and assuming approximately US$19.2 billion of Fox debt as part of the deal.

Walt Disney Co closed its $71 billion acquisition of Twenty-First Century Fox Inc's film and television assets on Wednesday.

The deal also helps Disney further control TV shows and movies from start to finish - from creating the programmes to distributing them though television channels, cinemas, streaming services and other ways people watch entertainment. "New Fox", remains owned by Rupert Murdoch and will continue its broadcasting, news, and sports aims.

Disney's takeover of Fox will see it take on 15,400 Fox staff even as it strives to achieve US$2 billion in cost savings over the next two years. The new and smaller Fox Corp will keep about 7,000 staff

Under the terms of the deal, Fox shareholders will receive US$38 a share in cash or Disney stock.

Underscoring the looming human cost, Disney is taking on 15,400 Fox employees, while the new and smaller Fox Corp will keep about 7,000. The trailer's proximity to the announcement has been hailed as an expression of confidence by Netflix, given that Disney is reportedly gearing up to launch its own streaming service later in 2019.

Imitating some of the most beloved scenes in the show where Homer strangles his son Bart for a comical misdemeanor, Homer has his hands wrapped around Mickey Mouse's neck, with the caption: "Welcome to the family, man". Disney CEO Bob Iger is open to the possibility, saying there would be an "opportunity for an R-rated Marvel brand as long as we let audiences know what's coming". That total included about $700 million in estimated costs related to Disney's pending divestiture of Fox's 22 regional sports networks - a sale mandated by the Justice Department as a condition of its approval of the deal. Perhaps the biggest addition to Disney's portfolio, and the most important as it prepares for a direct-to-consumer business model, is becoming a majority stakeholder in Hulu. Like with all upcoming Fox films, it's now unknown if they will be releasing in cinemas as planned, sent directly to either Disney+ or Hulu, sold to another distributor, or cancelled altogether. Disney warded off its rival suitor, but had to pay about 36 per cent more for Fox under new terms announced last June.

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