Disney-Fox mega-deal set to close March 20

  • Disney-Fox mega-deal set to close March 20

Disney-Fox mega-deal set to close March 20

The massive merger will finally go into effect later this month. Disney is getting ready to close on a deal that will see it acquire 20th Century Fox Studio, certain US cable networks and Fox's key direct-to-consumer platforms, including a 30% stake in streaming service Hulu and STAR India.

It also vastly reduces the empire of media mogul Rupert Murdoch and his family, who are planning a "new Fox" that includes the US broadcast network and the Fox News Channel.

Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly.

21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into the newly-listed company Fox Corporation. The deal is rich in global television assets, including in Latin America and India.

The acquisition will become effective at 12:02 AM EST on March 20. "Eastern Time on March 20, 2019, subject to the satisfaction or waiver of the conditions to the consummation of the Acquisition set forth in the documentation governing such transaction".

In recent weeks, Disney has been stitching up the final regulatory approvals from Latin American countries, including Brazil and Mexico. And whereas the Disney-Fox deal might lastly be coming to an in-depth, it nonetheless might take years to assimilate the Fox properties and staff underneath the Disney umbrella.

The consolidation of the two entertainment companies is expected to result in over 4,000 layoffs. Visit MarketWatch.com for more information on this news.

Disney has already said it would bring over several key Fox executives to run important operations, including Walt Disney Television.

The U.S. Justice Department has said Disney, which owns cable sports network ESPN, must divest Fox's 22 networks that provide sports programming for regional and local markets.