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Disney Buys 21st Century Fox In $66.1 Billion Deal

Discussion in 'SWNN News Feed' started by SWNN Probe, Dec 14, 2017.

  1. SWNN Probe

    SWNN Probe Seeker

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    [​IMG]

    The ongoing, unexpected Fox-Disney saga just went from 0 to full speed in the past two months, and now word is getting out that Disney has acquired the 21st Century Fox division of 20th Century Fox. Here are the latest updates on the situation as it's unfolded in the past few days.





    In the long run, this will mean relatively little for Star Wars and infinitely more for Marvel - but it's an incredibly interesting development in the world of the movie business, and as such I think it's worth discussing here.



    Bob Iger Will Stick Around Through 2021



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    Earlier speculation stated that, if Disney bought Fox, then it would mean that Bob Iger would extend his contract to keep working for the Mouse House yet again. And so it is - Disney's corporate wizard has gone from extending his contract to the end of 2019 to the end of 2021. From Disney's official press release:
    The $66.1 billion buyout represents Iger's biggest acquisition ever with a transaction that is more than quadruple the estimated $16 billion it took to obtain Pixar, Marvel, and Lucasfilm combined. The pact for the merger is expected to give both companies up to December 13, 2018, although there's an extension that goes up to a year if either company need it.



    Comcast Stopped Discussions Because A Deal Was Imminent



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    As mentioned in a previous report, Comcast was the runner-up for the grand prize when it came to companies willing to pick up Fox's assets. However, once they figured out which way the wind was blowing, they decided that they didn't need to waste their time with further discussion. The company issued the following statement:
    It is understood that Disney's buyout makes up a majority of Fox's entertainment assets, but features such as Fox News and Fox Sports remain at Fox.



    The Deal Is Announced In Time For The New Star Wars



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    The timing of this deal is certainly not an accident. This Tuesday, information suggesting that the deal was on the fast-track by both parties. And, from a corporate standpoint, it's a smart move to do so today - since the new Star Wars is guaranteed to be a smash hit at the box office, the confirmation of this deal will raise Disney's stock even higher than it would have been before things close for the weekend.



    Disney Is Willing To Shell Out More Cash To Iron Out Any Legal Headaches



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    Obviously, there are a can of worms that have yet to be opened regarding the legality of this deal and whether or not it creates a monopoly, and these will have to be answered in the next few months. But Disney have made it clear that they'll be willing to shell out even more dosh if it means ensuring that the deal passes, with $2.5 billion reserved for a potential break-up to compensate for any troubles.



    Oh, and one more thing worth noting: like a lot of major events that have come to pass in popular culture, The Simpsons easily predicted this one.






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    #1 SWNN Probe, Dec 14, 2017
    Last edited: Dec 29, 2017
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  2. Grand Master Galen Marek

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    Good scoop by Disney.
     
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  3. CTrent29

    CTrent29 Rebel Official

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    I don't know what to say.
     
  4. Bendak Starkiller

    Bendak Starkiller Force Sensitive

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    Like I've said earlier, I'm pretty happy with this news.
     
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