Disney's $71B acquisition of Fox assets could change face of industry

Disney's $71B acquisition of Fox assets could change face of industry

Darren Sullivan
March 21, 2019

The Walt Disney Company's $71.3bn takeover of most of 20th Century Fox is a enormous deal, the business equivalent of a sex scene between Alien and Predator - and Fox's Alien and Predator products are included in the purchase, along with James Cameron's Avatar franchise and many other lucrative properties. Yes, it means that within the next couple of hours or so, the likes of Deadpool, X-Men and the Fantastic Four will all be back home where they belong.

With the current Avengers franchise drawing to a close in next month's Endgame and Disney's new streaming platform gearing up for launch later this year, it looks like a new era of Marvel superheroes is upon us. Eastern Time tomorrow, March 20, 2019 Unprecedented collection of high-quality creative content, stellar talent and cutting-edge technologies will enable Disney to accelerate its direct-to-consumer strategy and expand its global presence The Walt Disney Company (NYSE:DIS) and Twenty-First Century Fox, Inc.

Disney also said Kevin Mayer and James Kapenstein have stepped down from its board.

Former Speaker of the House Paul Ryan is joining the board of the newly slimmed-down Fox Corporation, the parent company of Fox News.

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Democratic Senator Richard Blumenthal suggested on Twitter that an upcoming hearing on the crash would focus on that conversation. The company added, however, that it recommended to the FAA that all 737 Max planes be temporarily grounded around the world.

Disney, which owns the ABC television network and ESPN, will not acquire Fox News Channel, Fox Sports or the Fox broadcasting network.

The actor tweeted a picture of himself in his superhero alter ego's costume, wearing Mickey Mouse ears, and waving from a yellow school bus with Disney written on the side. Disney has licensed Fox's "Avatar" for its "Pandora" park within Walt Disney World.

Essentially, the Mouse House was already incredibly powerful with its own content and grew stronger when it acquired Marvel Entertainment in 2009 and Lucasfilm in 2012. Disney also has the Muppets, Pixar and "Star Wars". Disney warded off its rival suitor, but had to pay about about 36 percent more for Fox under new terms announced last June.

X-Men and other movies from Fox's studios could be added to Disney's upcoming streaming service. As an anti-trust provision, Disney was asked by the DOJ to relinquish 22 of its regional sports networks to provide fair competition in that space and had 90 days to restructure.