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The Walt Disney Companyhasagreed to acquire major assets of 21st Century Fox in a deal worth $52.4 billion, Disneywillappeaently keep the Deadpool property rated-R, if the branding is right.
Disney CEO Bob Iger extended his contract as chairman and CEO through the end of 2021. In a call with media, Iger commented on the future ofDeadpool:
“It [Deadpool] clearly has been and will be Marvel branded. But we think there might be an opportunity for a Marvel-R brand for something likeDeadpool,” said Iger. “As long as we let the audiences know what’s coming, we think we can manage that fine.”
The two companies will undergo a regulatory review and closing process that is expected to take 12 to 18 months.
“The boards of directors of Disney and 21st Century Fox have approved the transaction, which is subject to shareholder approval by 21st Century Fox and Disney shareholders, clearance under the Hart-Scott-Rodino Antitrust Improvements Act, a number of other non-United States merger and other regulatory reviews, and other customary closing conditions,” Disney CFO said.
Disney is acquiring Fox’s movie and TV studio; the National Geographic and FX cable channels; regional sports networks; international networks, including Star India; Fox’s 30 percent stake in Hulu; and its 39 percent stake in Sky.
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.
Disney is excited about how “popular entertainment properties” will join the “Disney family,” saying: “Combining with Disney are 21st Century Fox’s critically acclaimed film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes ofAvatar,X-Men,Fantastic FourandDeadpool, as well asThe Grand Budapest Hotel,Hidden Figures,Gone Girl,The Shape of WaterandThe Martian— and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have broughtThe Americans,This Is Us,Modern Family,The Simpsonsand so many more hit TV series to viewers across the globe.”
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Iger. “We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”
“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,” said Rupert Murdoch. “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.”
What do you think of this monumental deal? Let us know in the comments below!
Reilly Johnson
Articles Published :412
Reilly Johnson is a businessman and a staple in the online entertainment community contributing to some of the largest entertainment pages in the world. Currently, Reilly is the President of FandomWire.
