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Posted December 14, 2017 by Jasmin in News
 
 

Disney Officially Buys Most FOX Assets for $52 Billion

The House of Mouse is flexing its muscle with final confirmation of the long rumored FOX deal is a go. Disney buys FOX assets in an unprecedented deal valued at over $50 billion.

Disney has cherry-picked the FOX properties it will be purchasing, leaving the rest at the disposal of Rupert Murdock and his family. Included in the deal will be X-Men, Fantastic Four, Avatar, and Planet of the Apes franchises; adding to Disney’s already massive library. Fans have been excited at the prospect of all Marvel properties being back under the same banner once again.

On the television side, Disney will now have The Simpson’s, American Horror Story, Modern Family, and This is Us just to name a few. The deal does not include a total absorption of FOX, with Disney leaving things like FOX Sports and FOX News networks as is. However, earlier in 2017, Disney announced plans to create its own streaming service, declaring it would pull its content from Netflix slowly. Disney buys FOX’s stake in Hulu, which brings a lot more content into the fold.

The FCC will likely want to have a closer look at this deal because this new acquisition could make Disney too powerful. The company would have a major share of the Hollywood film market, the television market, and it now has the infrastructure to jump into streaming. A similar deal between AT&T and Time Warner was recently blocked by the Department of Justice because the merger would have too much power in its ability to both produce and distribute content. With both the FCC and the DOJ weighing in, they felt such a deal would give the company an unfair advantage, lessening competition and leaving consumers with fewer options.

This deal would give Disney’s ABC TV branch all of FOX’s regional sports channels (likely making ESPN a more complete sports network); most of FOX’s auxillary TV stations (NatGeo, FX, etc.); movie studios Fox Searchlight, 20th Century FOX; and partial ownership in Hulu. Disney would control ESPN and FOX Sports, Pixar, Marvel, and now Avatar as well.

Disney CEO, Bob Iger, has no plans to include FOX leadership in this merger. When speaking on the rumor that Rupert Murdock’s son, James, would move over to Disney as an executive, Iger said:

“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before. [James Murdock] will be integral to helping us integrate these companies over the next number of months and during that period of time we will continue to discuss whether there is a role for him here or not.”

More details on the merger are expected in the coming months.

via: CNN

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Jasmin loves Batman, sci-fi, and movies with lots of explosions. When she’s not writing about geektastic things, she’s probably playing video games or watching sports. Her ultimate goals include traveling the world to watch tennis and working for BioWare to revive the essence of the original Mass Effect Trilogy.