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The Walt Disney Company (Disney), a world-renowned American multinational entertainment & mass media conglomerate, has reportedly announced the successful acquisition of New York-based mass-media firm, 21st Century Fox.
Reports cite, the merger went through at approximately 12.02 am (EST), which gave Disney complete control over several 21st Century Fox entities, including the entirety of 21st Century Fox movie studio unit, a 30% stake in Hulu as well as the Fox Television Group.
According to a press release by Walt Disney, among other entities, the Disney acquisition also includes Fox Family & Fox Animation, Fox 2000 Pictures, Fox Searchlight Pictures, National Geographic Partners, Star India, Fox Networks Group International, Endemol Shine Group & Tata Sky.
The Chief Executive Officer of Disney, Bob Iger stated that the acquisition is a historic & extraordinary moment for the company, one that would be generating significant and long-term value for Walt Disney as well as its shareholders. Iger further added that the amalgamation of both parties’ proven talent & extensive creative content would be giving birth to a pre-eminent global-entertainment firm that is well positioned to pilot an incredibly transformative & dynamic era.
Disney’s primary focus would be upon 21st Century Fox’s movie assets, its portfolio of television shows & films as well as its stake in Hulu. Iger had also previously mentioned Disney’s plans to incorporate Fox’s content in the company’s business plans, which also included the possibility of merging Fox franchises like X-Men & Deadpool into the Marvel cinematic universe and facilitating Hulu streaming services internationally.
According to reports, with the completion of the massive acquisition, Walt Disney now has control of approximately 40% of the current market.
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