Breaking News Disney to Acquire 21st Century Fox for $52.4 Billion in Stock

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Cute Riju

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21st Century Fox and Disney are on a "glide path" for a Thursday deal announcement, sources familiar with the deal said.

Disney became the sole suitor after Comcast dropped its bid for the majority of Fox assets on Monday.

A week ago, CNBC reported that Disney and the Rupert Murdoch-controlled media company were closing in on a deal. The enterprise value of the Fox assets in the Disney deal is seen as above $60 billion, sources said a week ago, but that exact amount is still not firm.

Fox, Disney on 'glide path' for Thursday deal announcement: Sources
 
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Cute Riju

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Walt Disney Co. may announce a deal as soon as this week to acquire a large piece of 21st Century Fox Inc., according to a person familiar with the matter, transferring legendary Hollywood properties to new owners.

Comcast Corp., the other major contender for the Fox assets, said on Monday it’s no longer in the running.

A trust belonging to Fox executive chairman Rupert Murdoch and his family would end up with a small stake in Disney in the transaction, said the person, who asked not to be identified because the discussions are private. Disney would acquire Fox’s movie and TV studio, networks including FX and National Geographic, and international assets including Star India’s TV channels and a 39% stake in European satellite provider Sky Plc. Disney would also get Fox’s stake in US streaming-video provider Hulu, doubling its ownership to 60%.

Walt Disney said to near deal for 21st Century Fox assets as Comcast drops out - Livemint
 
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Disney to Acquire 21st Century Fox for $52.4 Billion in Stock




Disney has agreed to acquire 21st Century Fox. According to an announcement from Disney, it will be including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion (around Rs. 3,376 crore) in stock.

In terms of entertainment properties, this sees Deadpool, Avatar, FX Networks, National Geographic, The Simpsons, and National Geographic join the Disney portfolio. The company also gains a controlling stake in Hulu.




Incidentally, the acquisition impacts Fox’s Indian operations as well. Disney’s announcement mentions the addition of “extensive international properties, including Star in India and Fox’s 39 percent ownership of Sky across Europe, enhances Disney’s position as a truly global entertainment company with world-class offerings in key regions.”




This could see popular Indian streaming service Hotstar continuing alongside Disney's yet to be launched streaming platform as Hotstar is run by Star India.


HIGHLIGHTS
  • Properties like Deadpool and X-Men will now be a part of Disney
  • The company also gains a controlling stake in Hulu
  • Star India is also a part of this acquisition as is Hotstar

Disney to Acquire 21st Century Fox for $52.4 Billion in Stock | Technology News
 
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