Disney has agreed to purchase most of the assets of 21st Century Fox, including Fox’s film studio. Also included in the deal which still awaits approval by the feds, are Fox’s TV studio and cable channels FX and National Geographic. Rupert Murdoch will retain ownership of Fox News, as well as Fox Sports, Fox Business and its broadcast network of 28 local television stations across the United States.
Disney (DIS) has reached a deal to acquire certain assets of 21st Century Fox (FOXA), the parent company of FOX Business, for approximately $52.4 billion in stock.
The transaction has a total value of $66.1 billion, including 21st Century Fox’s debt. Assets included in the deal are Twentieth Century Fox Film and Television studios, along with cable and international TV businesses. Disney Chairman and CEO Robert Iger will extend his tenure through 2021.
“I’m convinced that this combination, under Bob Iger’s leadership, will be one of the greatest companies in the world,” Rupert Murdoch, executive chairman of 21st Century Fox said in a statement.