Disney Closes $71.3 Billion Fox Deal, Creating Global Content Behemoth
Disney has closed its $71.3 billion acquisition of large sectors of 21st Century Fox, expanding its global reach and content portfolio ahead of the planned launch of its own video streaming service, Disney+.
With the mega-deal, Disney, led by chairman and CEO Bob Iger, is adding the Fox film and TV studio, the FX networks, National Geographic, Indian TV giant Star India and Fox's 30 percent stake in streaming service Hulu to its portfolio. The additional Hulu portion takes Disney's stake in the streamer to 60 percent (with Comcast owning 30 percent, and AT&T's Warner Media 10 percent).
Disney had in December 2017 struck a deal with Fox, controlled by the Murdoch family, for $52.4 billion. Comcast in June 2018 unveiled a $65.0 billion offer for the Fox assets before Disney shot back with a sweetened $71.3 billion offer that led Comcast to end its pursuit of Fox.