Disney Closes 21st Century Fox Deal
Disney has formally taken control of its $71 billion acquisition of 21st Century Fox, according to Variety.
Disney took possession of 21st Century Fox at 12:02 a.m. EST on March 20. Properties changing hands in the deal include Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group.
“This is an extraordinary and historic moment for us–one that will create significant long-term value for our company and our shareholders,” says Bob Iger, chairman and chief executive officer, Disney. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
Disney emphasized that the transaction is designed to help the company “increase its international footprint” and “expand its direct-to-consumer offerings,” according to Variety.