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Wednesday, March 20, 2019

Disney Acquire Fox in $71.3 Billion Deal


It seems as if Disney will be challenging Netflix with gaining ground in the streaming world. In a deal that will have a seismic effect on entertainment and television, Disney has finally completed negotiations to acquire Fox.

The deal is worth a reported $71.3 billion with assets such as Fox film and TV studios, National Geographic, FX Networks, a number of international channels, and a third of Hulu. In addition, Disney also acquired the rights to such film franchises such as  X-Men, Deadpool, The Fantastic Four, and Avatar.

Fox will function as a standalone corporation which will continue to oversee the broadcasting channel as well as Fox News and Fox Sports. It is being reported that 4,000 layoffs could be imminent as the companies finalize the consolidation.

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