What Disney gets as its $71.3B buy of Fox assets closes

What Disney gets as its $71.3B buy of Fox assets closes

Ryan will serve on the board along with Murdoch, Fox's founder, and his son, Lachlan Murdoch, Fox's chairman and chief executive. With the new deal in place two out of the three (Spider-Man still calls Sony home) will be returning under Marvel's sole umbrella, but according to a new report, it seems Marvel doesn't really have plans to carry on what Fox was doing. Fox's share in Hulu will go to The Walt Disney Company as well as its entire entertainment catalog that includes films such as Avatar and the Alien franchise.

Though it dropped its bid for Fox's stake in Sky, Disney gets other global properties from Fox, including Star India, a major Mumbai-based media company with dozens of sports and entertainment channels; and stakes in Tata Sky, an Indian satellite TV provider and Endemol Shine Group, a Dutch-based media company.

The mouse house will divest 21 Century Fox's regional United States sports channels as a condition for regulatory approval of the deal.

The Disney-Fox deal has now officially been completed and is due to take effect at 12.02am Eastern Time on Wednesday, with the Mouse House shelling out $71.3bn (£54.3bn) to complete the takeover.

Tuesday is the new Fox's first day as a standalone company, trading on the NASDAQ as FOXA and FOX. In the announcement, Walt Disney Company CEO Bob Iger stated that "This is an extraordinary and historic moment for us-one that will create significant long-term value for our company and our shareholders". Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this year. It already has classic Disney cartoons, "Star Wars", Pixar, the Muppets and some of the Marvel characters.

In movies, Disney and Fox combined to win 11 awards - almost half of those presented - at the Oscars in February, including honors for "Black Panther", 20th Century Fox's "Bohemian Rhapsody" and Fox Searchlight's "The Favourite". Disney will also get Fox's 30 percent ownership of Hulu, giving Disney a controlling share of 60 percent.

To win the blessing of regulators, Disney agreed to sell 22 Fox regional sports networks in the US, its half of the A&E channels in Europe and Fox's sports network in Brazil.

Related Articles