Disney's acquisition of Fox is lastly coming to fruition. Disney's goal is to expand its programming pipeline to better compete against Netflix, Amazon.com and Apple Inc., technology companies that have sparked major shifts in consumers' viewing behavior.
If the Election Deadline is rescheduled, 21CF and Disney will publicly announce the rescheduled Election Deadline. The date was included in a launch during which Disney indicated that it had obtained the final main share approval for the deal from regulators in Mexico. Comcast then made an offer on June 13, 2018 to acquire Fox assets Disney wanted to purchase in a $65 billion all cash proposal.
The new Fox, which includes Fox News and the Fox broadcast network will operate as a separate company after the mega-deal closes.
Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly. Existing 21st Century Fox shareholders will have the option to accept Disney shares or cash out.
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Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox's interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group. The deal is rich in global television assets, including in Latin America and India. The $71.3 billion deal is scheduled to become effective at 12:02 a.m. "Eastern Time on March 20, 2019, subject to the satisfaction or waiver of the conditions to the consummation of the Acquisition set forth in the documentation governing such transaction". The compromise requires that Disney sell the Fox Sports channels in Brazil and Mexico.
The consolidation of the two entertainment companies is expected to result in over 4,000 layoffs. And even after it is all said and done, it will still be a while before Fox's properties can fall under the Disney umbrella.
Former Warner Bros. executive Craig Hunegs will be president of Disney Television Studios. Elizabeth Gabler will continue in her role running production at Fox 2000.