Disney Completes $71.3 Billion Acquisition of 21st Century Fox

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Mar 20, 2019.

  1. MacRumors macrumors bot

    MacRumors

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    After first confirming its plan to acquire certain parts of 21st Century Fox in December 2017, today The Walt Disney Company has officially closed its $71.3 billion acquisition of Fox (via The Hollywood Reporter). The deal had to go through various regulatory and antitrust reviews, and Disney saw a bit of competition with Comcast for Fox's assets throughout 2018.

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    Now, Disney owns 20th Century Fox Film and Television studios, the FX stable of networks, National Geographic, and the Fox-related cable and international TV businesses, like India's Star India. The acquisition has also made Disney the majority owner of Hulu thanks to Fox's 30 percent stake in the streaming service, combined with Disney's existing 30 percent stake. Disney is said to also be looking into acquiring WarnerMedia's 10 percent Hulu stake, but will leave the service as it is and focus mainly on its upcoming Disney+ platform instead of altering Hulu.

    For Disney+, the company now has a huge back catalog of Fox films and TV shows to bolster its not-yet-released streaming service, and potentially entice more customers to join. It's already been confirmed that Disney+ will host "the entire Disney motion picture library," signaling the end of the Disney Vault in the process and allowing subscribers to stream any Disney film they desire.

    There will also be new original TV shows and films based on Disney properties, like The Mandalorian set in the Star Wars universe, and a Marvel show focused on Tom Hiddleston's Loki. Disney plans for the service to be family-friendly and educational, with shows based on Monsters, Inc. and documentaries about Walt Disney Imagineering. This content will now be combined with Disney-owned Fox properties, including films from the X-Men and Avatar franchises, and many more.

    The impact of the acquisition is expected to lead to between 4,000 and 10,000 layoffs. What's leftover of the new Fox Corporation will now focus on news and sports in the United States more so than entertainment programming, including the Fox broadcast network, TV stations, the Fox News channels, and Fox Sports, none of which Disney acquired.

    Disney's interest in Fox started with its bid to acquire a large portion of Fox's assets for $52.4 billion in stock in late 2017. Comcast entered with its own $65 billion cash offer for Fox's assets, leading to Disney's increased $71.3 billion cash and stock bid in June 2018. At the time that it bowed out of the running for Fox, Comcast CEO Brian L. Roberts congratulated Disney and its CEO Bob Iger and commended the Murdoch family and Fox "for creating such a desirable and respected company."

    With the acquisition, Disney+ is also becoming a big competitor to current and future streaming services like Netflix, Hulu, and Apple's own TV service, which is set to be unveiled next week. Apple's platform is taking the Disney+ approach, with many original TV shows and films produced by Apple that will be mixed in with purchased content from third parties. We don't know yet how much Apple's service will cost or what shows will be available at launch, but we should get more details in just a few days, as the company's "It's Show Time" event kicks off on Monday, March 25 at 10:00 a.m. Pacific Time.

    Article Link: Disney Completes $71.3 Billion Acquisition of 21st Century Fox
     
  2. jsmith189 macrumors 65816

    jsmith189

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    And, all I'm asking for is one of those billions. I don't think that's an unreasonable request.

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  3. ideal.dreams macrumors 68020

    ideal.dreams

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    Sure it’s not. Better get working!
     
  4. JagdTiger macrumors regular

    JagdTiger

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    Going to be one big monopoly soon...people should boycott the entertainment industry.
     
  5. Frign macrumors regular

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    Because big media conglomerates are so great for the market! /s
     
  6. TMRJIJ macrumors 68040

    TMRJIJ

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  7. rednif macrumors member

    rednif

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  8. cgriffis753 macrumors regular

    cgriffis753

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    Does this mean they will add the 20th century fox logo back to the beginning of Star Wars!! (fingers crossed)
     
  9. Caliber26 macrumors 68000

    Caliber26

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    These Simpsons predictions never fail to disappoint me and the more I see them, the more I become convinced that none of it is by coincidence.
     
  10. Mac'nCheese Suspended

    Mac'nCheese

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    Yep.


    Nope.
     
  11. tazinlwfl macrumors regular

    tazinlwfl

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    And people were asking "Why would I want a streaming service from only one company?" - well, when that company owns like 80% of all TV and Movies, I think it'll have you covered. Disney+ is looking more complete than Netflix if they can roll in all of TCF content. It's not just Cinderella and Snow White... Fox + Marvel + Lucas + Disney, hopefully less than Netflix.
     
  12. Winni macrumors 68040

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    I don't know about that. But I'm afraid that wr will soon see singing Xenomorphs from "Alien" and cute little singing Predators...
     
  13. JagdTiger macrumors regular

    JagdTiger

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    Would that include the program where trump got the election from hilary?, a prophecy come true?
     
  14. Jsameds macrumors 68040

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    As the streaming market is broken up by things like this, people will be pushed back to piracy.

    We will have come full circle. Hollywood just doesn't get it.
     
  15. gigapocket1 macrumors 65816

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    Disney just knows how to always stay on top.. theirs just nothing left to say. You have to give them credit lol.
    71 billion is alot right now. but its that type of move that will keep them around for the next 30+ years as the leader of media entertainment
     
  16. question fear macrumors 68020

    question fear

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    Probably. And honestly, between X-Men and Fantastic Four, I sometimes wonder if Disney just figured it was cheaper and more useful to buy the whole damn company over renegotiating the rights to those two.
     
  17. Intellectua1 macrumors regular

    Intellectua1

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    This Disney Streaming service is sounding more and more like the one to have every time I read about it. Apple is crazy to think competing in the video streaming business was a great idea, I predict their service will flop. Things will come down to Netflix and Disney
     
  18. K1NG1NTHEN0RTH3 macrumors newbie

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    I’ll say goodbye to my 4K library on my Apple TV. I wouldn’t be surprised if Disney pulled any Fox movies that were 4K from the Apple store and downgraded them to 1080p
     
  19. jakeenzo macrumors member

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    It will come down to whoever has the most money. I'll take bets between Apple or Disney. Netflix can't compete with them in terms of available $$$
     
  20. Rocketman, Mar 20, 2019
    Last edited: Mar 20, 2019
  21. Intellectua1 macrumors regular

    Intellectua1

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    Netflix has their own content and a lot of content from other studios and Disney+ sounds like it will have an overload of content, I can't see Apple having a good dog in this fight. This isn't about money, you can't just throw money at streaming service to make it successful. This will boil down to who has the best content and a lot of it. Netflix won't lose any subscribers they're name is synonymous with streaming and Disney will gain a lot of customers off their name alone.
     
  22. theluggage macrumors 68040

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    Here in the UK, the joke used to be "Why is there only one Monopolies Commission?" - but names of regulatory bodies change with time.
     
  23. ateslik, Mar 20, 2019
    Last edited by a moderator: Mar 20, 2019

    ateslik macrumors regular

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    Monopoly? Warner Bros? Comcast? Turner? Netflix? Apple? Amazon? I could keep going on. And on. And on. There is more competition in the entertainment industry than there has ever been before, and more content being created than ever before.
     
  24. potatis macrumors 6502a

    potatis

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    Disney has banned their movie posters on sites like cinematerial, I figure that will extend to 20th century fox's films.
     
  25. 2010mini macrumors 68040

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