Acquisition of 21st Century Fox by Disney
== Acquisition of 21st Century Fox by Disney ==
The acquisition of 21st Century Fox by Disney was a significant event in the entertainment industry, where The Walt Disney Company acquired the majority of 21st Century Fox's assets. The deal was officially announced on December 14, 2017, and was completed on March 20, 2019.
Background[edit | edit source]
21st Century Fox was a multinational mass media corporation founded in 2013 following the split of News Corporation. The company was known for its film studio 20th Century Fox, television production company 20th Television, and cable channels such as FX Networks and National Geographic Partners.
The Walt Disney Company, founded in 1923 by Walt Disney and Roy O. Disney, is one of the largest and most well-known entertainment companies in the world. Disney's acquisition of 21st Century Fox was part of its strategy to expand its content library and strengthen its position in the entertainment industry.
Details of the Acquisition[edit | edit source]
The acquisition deal was valued at approximately $71.3 billion. Under the terms of the agreement, Disney acquired 21st Century Fox's film and television studios, cable entertainment networks, and international TV businesses. This included assets such as 20th Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family, Fox Animation, FX Networks, National Geographic Partners, Fox Networks Group International, Star India, and Fox's 30% stake in Hulu.
However, certain assets were not included in the acquisition. These included the Fox Broadcasting Company, Fox News Channel, Fox Business Network, Fox Sports, and the Fox Television Stations Group, which were spun off into a new company called Fox Corporation.
Impact[edit | edit source]
The acquisition had a significant impact on the entertainment industry. It allowed Disney to gain control over a vast array of content and intellectual properties, including popular franchises such as Avatar, X-Men, and The Simpsons. This bolstered Disney's content offerings for its streaming service, Disney+, which launched in November 2019.
The deal also led to significant restructuring within both companies, with many employees facing layoffs as a result of the merger. Additionally, the acquisition raised concerns about media consolidation and its potential impact on competition and consumer choice.
Related Pages[edit | edit source]
- The Walt Disney Company
- 21st Century Fox
- 20th Century Fox
- Fox Corporation
- Disney+
- Hulu
- Avatar (franchise)
- X-Men (film series)
- The Simpsons
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