Disney completes major deal for 21st Century Fox
US$52.4 billion purchase include stake in satellite broadcaster
Last updated: 14 December 2017, 12:59 pm
Walt Disney says it is to buy 21st Century Fox's entertainment assets for US$52.4 billion.
The deal includes Fox's 39% stake in satellite broadcaster Sky, Disney has announced, as well as film studio 20th Century Fox.
Disney also will buy Fox's stake in the Hulu video streaming service, adding to their impressive back catalogue.
A new company will be formed from the remaining assets, WIC News understands.These assets include sports and news.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Robert Iger, chairman and CEO of The Walt Disney Company.
It is not clear how the deal will be received by US antitrust regulators.
The US Department of Justice recently sued to block AT&T's US$85.4bn deal to buy Time Warner, on the basis that it will raise prices for consumers and competitors.
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