Disney buys large part of 21st Century Fox in multi-billion dollar deal

https://www.9news.com.au/world/2017/12/14/23/35/disney-buying-large-part-of-21st-century-fox

Disney is buying a large part of the Murdoch family’s 21st Century Fox in a $52.4 billion deal ($A73.4 billion), including film and television studios, cable and international TV businesses as it tries to meet competition from technology companies in the entertainment business.

The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights and a bid by Disney to bolster its core TV and film businesses against an onslaught of new competitors in the content arena.

The transaction unveiled early on overnight (AEDST) has a total value of $US66.1 billion, with Disney assuming $US13.7 billion in 21st Century Fox debt.

Before the buyout, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

The deal gives Disney film businesses including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together are the homes of Avatar, X-Men, Fantastic Four and Deadpool.

On the television side, Disney will get Twentieth Century Fox Television, FX Productions and Fox21, with shows including “The Simpsons” and “Modern Family.”

21st Century Fox shareholders will receive 0.2745 Disney shares for each share they own. The transaction also includes approximately $13.7 billion in debt.

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big..and predicted by the simpsons.. 🙂

“The deal gives Disney film businesses including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together are the homes of Avatar, X-Men, Fantastic Four and Deadpool.”

401

~ by seeker401 on December 18, 2017.

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