Disney-Fox Acquisition Finally Done & The World's Reaction.March 20, 2019
The long, drawn out steps for Disney to officially acquire 20th Century Fox assets has officially come to a close and Disney now owns all assets to the studio itself of the news portion.
The bid or acquisition move started last year and the last government who had to approve of the move was Mexico. We reported that a week ago that Disney and Fox revealed the acquisition was to be officially approved and finalized today and they made good on their promise it seems.
Disney paid $71.3B for Fox assets. After it was revealed though that Disney is finally the owner of many great properties of Fox, fans and even stars expressed love for the closing of the deal. Fans said Disney moved from being an ultra-huge company to a behemoth of one and said now Disney owns everything. However, a few expressed their concern for Disney almost taking over everything and also expressed concern about the 4,000 people who are supposedly lose jobs after the acquisition. Still, I believe that even though it is said, many probably already had found a job that fits their bill.
Disney is now in fact an extremely huge entertainment company of the likes that have never been witnessed before.
To give an extreme rundown, this is some of the things Disney owns now. Disney now owns almost all of its Marvel Studios properties back from studios who owned them recently. This includes X-Men, Deadpool, Fantastic Four and all the characters in their Universe. Disney Owns all of Lucasfilm and that mean the Star Wars Universe, Indian Jones and even the production sectors like Industrial Lights and Magic and Skywalker Sound. Disney also owns Pixar which gave us exceptional movies like 'Toys Story' and 'Finding Nemo' and 'The Incredibles.' These three companies alone or Marvel, Pixar and Lucasfilm almost holds extreme influence over the box office and entertainment.
Now after the acquisition, Disney owns "Avatar", "Aliens", "Ice Age", "Predator". They also own things like Blue Sky Studios, the National Geographic and FX cable networks; most of the streaming service Hulu; and Star. They own the sports waves with ESPN. Disney though was forced to sell off Fox Sports because Mexico and Brazil though that owning ESPN and Fox Sports would mean that Disney would also control all of the Sports waves indefinite and would give them too much control over sports TV market in the country. Mexico's telecommunications regulators, IFT, thought that Disney owning the National Geographic and Nat Geo Wild channels would also be too much control over this particular market.
Fox's 22 regional sports channels are deep in the process of being sold, which was required by the Justice Department. On a side note, The Yankees decided to team up with E-commerce giant, Amazon to purchase the Yes Network, which included the New York metropolitan area, for just over $3.5B. To bend to the will of European regulators, Disney agreed to divest a stake in A + E Networks, which include the History Channel (Disney will keep 50% ownership of the division in the US.)
Just in case many are unaware, Fox was owned by media magnate Rupert Murdoch who in turn is expected to receive roughly $12B in proceeds from the Disney acquisition, according to Bloomberg. Other shareholders in the assets that were sold Disney had two options just like Murdoch. These options were to accept Disney shares or cash out. Disney revealed that 52% of shareholders asked for cash and 37% asked for Disney shares.
Many wondered what would happen to the rest of what Murdoch owns seeing that he retained ownership of the Fox broadcast network, a chain of local Fox television stations, Fox News, along with FS1 sports channel.
Well don’t fret, Murdoch likely thought of this a head of time and decided to roll all of this into a new publicly traded company, Fox Corporation on Tuesday (March 19). This company includes Paul D. Ryan, M. Murdoch and Roland Hernandez and Murdoch's oldest son, Lachlan who serves as the company’s new chief executive.
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Reporting: Ta' Shawn Kirk
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