The Walt Disney Company has finalised its acquisition of 21st Century Fox, purchasing the business for US$71 billion.
Signed, sealed and delivered on 20 March, the agreement has Disney as the owner of Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group.
Chairman and CEO, The Walt Disney Company, Robert Iger, said that the acquisition creates the world's leading entertainment company, ready for the future of entertainment.
“This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders.
“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era,” he said.
After the acquisition, 21st Century Fox created a spin-off portfolio of its remaining news, sports and broadcast assets including Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network and began trading as Fox Corporation.
In the wake of the acquisition, president of Fox Consumer Products, Jim Fielding, is leaving the business and, according to ToyNews, is predicted to be one of the thousands of exits to occur at Fox post-acquisition.