Thursday, 14 December 2017

Disney to Buy 20th Century Fox Assets for $52.4 Billion

Photo Credit: Credit: 20th Century Fox / Walt Disney Company

Hard to believe but true, Disney is merging with 20th Century Fox, acquiring it and other entertainment and sports assets, making it a historical merger between the two Hollywood giants. Disney’s aim is to boost its TV and film businesses against an onslaught of new competitors in the content arena. This all stock deal has been set for $52.4 billion.

 “We are extremely proud of all that we have built at 21st Century Fox, and I firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace in what is an exciting and dynamic industry. Furthermore, I’m convinced that this combination, under Bob Iger’s leadership, will be one of the greatest companies in the world. I’m grateful and encouraged that Bob has agreed to stay on, and is committed to succeeding with a combined team that is second to none,’ 21st Century Fox’s chairman Rupert Murdoch said. 

This merger will provide Disney with the opportunity to reunite the X-MenFantastic Four, and Deadpool with the Marvel family under one roof and create richer, more complex worlds of inter-related characters and stories.

Source: Variety 

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