Disney Is Letting Go Its Acquisition On Fox

Daniel Fowler
March 15, 2019

Disney's purchase of the Fox assets - first unveiled in December 2017 - will likely transform the Burbank company into an entertainment Goliath, towering over its traditional competitors.

The new Fox, which includes Fox News and the Fox broadcast network will operate as a separate company after the mega-deal closes.

The Walt Disney Company plans to formally close its deal to acquire 21st Century Fox on March 20, 2019.

Under the acquisition agreement, 21st Century Fox stockholders may elect to receive US$38 per share in either cash or shares of "New Disney", the holding company that will own both Disney and 21st Century Fox following the acquisition.

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In addition, Disney is also receiving 21st Century Fox's investment in Hulu, giving them the majority stake in the streaming platform.

In a letter to investors Disney said that the acquisition "is expected to become effective at 12:02 a.m. Eastern Time on March 20, 2019", Disney said in a regulatory filing.

Back in June of 2018, Disney bought Fox for $71.3 billion.

Also part of the 21st Century Fox acquisition are its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. And whereas the Disney-Fox deal might lastly be coming to an in-depth, it nonetheless might take years to assimilate the Fox properties and staff underneath the Disney umbrella. The compromise requires that Disney sell the Fox Sports channels in Brazil and Mexico. And even after it is all said and done, it will still be a while before Fox's properties can fall under the Disney umbrella.

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