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Thursday, December 14, 2017

The Walt Disney Company announced the purchase of the film and television assets of 21st Century Fox in an agreement valued at US$52.4 billion, in addition to assume its net debt of US$13.7 million. With the operation, Disney obtains the content library of its rival, as well as its international distribution network, television channels and greater control of Hulu, a video on demand platform that ABC shares with FOX, NBC and Time Warner.

This is the company’s latest move in its growing competition with Netflix and Amazon.com. It also adds to the previous purchases of Pixar, Marvel and Lucasfilm. According to the agreement, the shareholders of 21st Century Fox will receive 0.2745 Disney shares for each share of the 21st they own. In total, Fox owners will have 25% control of Disney when the purchase is finalized.

The agreement also means that Disney will now have the studios 20th Century Fox, Fox Searchlight Pictures and Fox 2000, television channels 20th Century Fox Television, FX Productions, Fox21, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and the shares of 21st in Hulu, Sky plc, Tata Sky and Endemol Shine Group.

The remaining assets, Fox News, Fox Business, FS1, FS2 and Big Ten Network, will be part of a new company. Robert Iger, exercutive director (CEO) of Disney, explained that the purchase reflects the growing demand of the public for “rich” content and a “diverse” experience. Iger and his 21st counterpart, Rupert Murdoch, signed the agreement in London, United Kingston.

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