YOMZANSI. Documenting THE CULTUREYOMZANSI. Documenting THE CULTURE
  • LATEST
    • TV & FILM
    • MUSIC
    • EVENTS
    • FASHION
    • LIFESTYLE
    • TECH
    • VIDEOS
    • FOOD
    • SPORTS
    • CAREERS/TIPS
  • FOOTWEAR
  • EDITORIALS
  • COVERS
  • PODCAST
Facebook Twitter Instagram
  • SUBSCRIBE
  • ADVERTISE
  • DISCLAIMER
  • CONTACT
Facebook Twitter Instagram YouTube TikTok
YOMZANSI. Documenting THE CULTURE YOMZANSI. Documenting THE CULTURE
  • LATEST
    • TV & FILM
    • MUSIC
    • EVENTS
    • FASHION
    • LIFESTYLE
    • TECH
    • VIDEOS
    • FOOD
    • SPORTS
    • CAREERS/TIPS
  • FOOTWEAR
  • EDITORIALS
  • COVERS
  • PODCAST
YOMZANSI. Documenting THE CULTUREYOMZANSI. Documenting THE CULTURE
Home » Disney buys 20th Century Fox for $52.4 billion
TV & Film

Disney buys 20th Century Fox for $52.4 billion

yomzansiBy yomzansi5 years ago
Facebook Twitter WhatsApp Reddit Email
Photo: Shutterstock

The Walt Disney has officially purchased 21st Century Fox together with 20th Century Fox Film and Television studios, along with cable and international TV businesses.

It doesn’t end there…The deal includes 20th Century Fox, Fox Searchlight Pictures, Fox 2000, 20th Century Fox Television, FX Productions, Fox21, FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky, and Endemol Shine Group.

 

 

Here is the official statement below:

The Walt Disney Company and Twenty-First Century Fox, Inc. today announced that they have entered into a definitive agreement for Disney to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock (subject to adjustment). Building on Disney’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. Immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold (subject to adjustment for certain tax liabilities as described below). The exchange ratio was set based on a 30-day volume weighted average price of Disney stock. Disney will also assume approximately $13.7 billion of net debt of 21st Century Fox. The acquisition price implies a total equity value of approximately $52.4 billion and a total transaction value of approximately $66.1 billion (in each case based on the stated exchange ratio assuming no adjustment) for the business to be acquired by Disney, which includes consolidated assets along with a number of equity investments.

Popular Entertainment Properties to Join Disney Family

Combining with Disney are 21st Century Fox’s critically acclaimed film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water and The Martian—and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. 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 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 A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”

“We are extremely proud of all that we have built at 21st Century Fox, and I firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace in what is an exciting and dynamic industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “Furthermore, I’m convinced that this combination, under Bob Iger’s leadership, will be one of the greatest companies in the world. I’m grateful and encouraged that Bob has agreed to stay on, and is committed to succeeding with a combined team that is second to none.”

At the request of both 21st Century Fox and the Disney Board of Directors, Mr. Iger has agreed to continue as Chairman and Chief Executive Officer of The Walt Disney Company through the end of calendar year 2021.

“When considering this strategic acquisition, it was important to the Board that Bob remain as Chairman and CEO through 2021 to provide the vision and proven leadership required to successfully complete and integrate such a massive, complex undertaking,” said Orin C. Smith, Lead Independent Director of the Disney Board. “We share the belief of our counterparts at 21st Century Fox that extending his tenure is in the best interests of our company and our shareholders, and will be critical to Disney’s ability to effectively drive long-term value from this extraordinary acquisition.”

Source: comingsoon

 

 

Drop your comments below & Join the conversation on our Twitter or Facebook :

 

 

(Visited 122 times, 1 visits today)
20th Century Fox Television Amusement Parks and Zoos big ten network Bob Iger Broadcasting - NEC Business_Finance Cable Service Providers Chairman and CEO Chairman and Chief Executive Officer Disney Endemol Shine Group Entertainment Production - NEC Entertainment_Culture Executive Chairman fox broadcasting Fox Networks Group International fox news Fox News Channel Fox Searchlight Pictures Fox Sports Regional Networks FX Networks Grand Budapest Hotel Internet Services - NEC Lead Independent Director National Geographic Partners Orin C. Smith Robert A. Iger Rupert Murdoch SHUTTERSTOCK Sky plc star india TATA SKY Television Broadcasting The Simpsons The Walt Disney Company Twentieth Century Fox Television Twenty-First Century Fox Inc. VOIP Services Xtreme FS1 Headphone/Headset
Previous ArticleJapanese Inspired Stitching Detail for Tsugi Shinsei Footpatrol
Next Article Riky Rick reminds us of the joyful 90s in ‘Stay Shining’ music video

Related Posts

TV SHOW OF THE WEEK: Showmax’s new drama series ‘Adulting’

14 hours ago

MOVIE OF THE WEEK: ‘John Wick: Chapter 4’ releases this week

16 hours ago

‘Everything Everywhere All at Once’ scoops 7 wins at the Oscars

1 week ago

MOVIE OF THE WEEK: ‘Luther: The Fallen Sun’

1 week ago

TV SHOW OF THE WEEK: ‘MH370: The Plane That Disappeared’

1 week ago

WATCH TRAILER: HBO’s ‘Barry’ to end with season 4

2 weeks ago
GET OUR NEWSLETTER
Receive exclusive and latest updates on Music, Sneakers, Fashion and latest trends.


SUBSCRIBE – ADVERTISE – DISCLAIMER – CONTACT

YOMZANSI is an award-winning cultural platform, an influential publication covering News & Trends in Music, Sneakers, Fashion, Events, Tech & Motoring.

If you believe any materials accessible on or from this platform infringe your copyright, you may request removal of those materials (or access to them) from the Website by submitting written notification to yomzansi@gmail.com. We do not claim ownership of some of the images used on this website and all attempts will be made to list the sources.

Copyright © 2023 YOMZANSI

We're social. Connect with us:

Facebook Twitter Instagram YouTube TikTok

Type above and press Enter to search. Press Esc to cancel.