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Home / NewTech / Disney closes the Fox takeover and throws a Hollywood monster to take on Netflix

Disney closes the Fox takeover and throws a Hollywood monster to take on Netflix



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Disney can only share in X-Men to replace all dead Avengers now, no?


Chuck Zlotnick / Marvel Studios

It may not be a dramatic trailer, but it is still one of the most sought after climatic conditions in Hollywood.

Disney the world's largest traditional media company, closed its takeover of much of the second Hollywood giant 21

st century Fox late Tuesday. It indicates that companies are officially one year after they first reached an agreement to merge what would be a $ 71.3 billion.

It completes one of the most instantaneous examples of Hollywood that goes to extreme lengths to strengthen competition from digital power plants like Netflix Amazon and – soon – Apple . The deeply-folded companies have spent money on making their own TV programs and films. The power services have low monthly rates, and in Netflix, they have tried to cancel movie hit standards for movies – all threats to how companies like Disney and Fox make money.


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Really, the Fox takeover will be completely before Disney's planned launch of its own Netflix-like streaming service later this year, called Disney + . Disney CEO Bob Iger has called the streaming service the company's "top priority" for 2019. Adding Fox will give Disney an even bigger library of high-profile content to enter their service.

Fox is home to blockbuster franchises like X-Men, Deadpool, Kingsmen and Apes Planet; animated films like Ice Age; and TV assets such as The Simpsons and Edgy Network FX. The deal includes 21st Century Fox movie and TV studios as well as a cable group that includes FX, National Geographic, 300 plus international channels and 22 regional sports networks.

The agreement also includes broadcast giant Sky in the UK and Europe.

The deal takes over Fox's 30 percent in Hulu over to Disney, which essentially doubles Disney's ownership and gives Hulu a majority stake for the first time in its decade-plus history. Comcast's NBCUniversal continues to hold 30 percent and AT & T's WarnerMedia has the remaining 10 percent.

Disney's merger with Fox follows AT & T's $ 85 billion purchase by Time Warner parent company of HBO, CNN, Warner Bros. and other. AT&T cleared the latest legal uncertainty that pulled over its Time Warner takeover earlier this year.

Originally published at 4:10 PT.
Updated 9:05 pm PT : With the agreement officially closed.


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