Disney finalizes their $71.3 billion acquisition of Fox
In December, there were talks of the Walt Disney Corporation looking into buying 21st Century Fox. It was later revealed that Disney offered up $52.4 billion for Fox's repertoire. Afterwards, Comcast tried to throw their hat into the ring by bidding $65 billion, but were outbid by Disney's second offer of $71.3 billion. It took seven months for things to level out and get through without issue, and as of now, Disney has announced that they have purchased 21st Century Fox. Both Fox's Rupert Murdoch and Disney's Robert Iger were positive about the buyout, stating that they're excited the future.
Fox itself will keep Fox News, Business, and Sports, alongside any of their local TV stations. It will take until the first half of 2019 for the deal to be completed, in terms of transactions and stocks. Disney now owns majority stock in Hulu, as well.
“We’re incredibly pleased that shareholders of both companies have granted approval for us to move forward, and are confident in our ability to create significant long-term value through this acquisition of Fox’s premier assets,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “We remain grateful to Rupert Murdoch and to the rest of the 21st Century Fox board for entrusting us with the future of these extraordinary businesses, and look forward to welcoming 21st Century Fox’s stellar talent to Disney and ultimately integrating our businesses to provide consumers around the world with more appealing content and entertainment options.”
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