ABC News parent company Disney acquires 21st Century Fox, Inc. in major deal

Disney/20th Century Fox(NEW YORK) — ABC News’ parent company The Walt Disney Co. is acquiring 21st Century Fox for $52.4 billion in stock, Disney announced Thursday morning.

Fox will spin off and retain some of its properties, including Fox News, but Disney will own Fox’s massive film and TV empires.

“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,” Bob Iger, chairman and CEO of The Walt Disney Co., said in a statement announcing the acquisition.

For Disney, which owns ABC News, taking ownership of one the country’s largest movie studios from the Rupert Murdoch-controlled company is one of the biggest media deals in history.

For Marvel movie fans, this means that finally, 20th Century Fox characters from The X-Men franchise, as well as others to which Fox owned the rights, like the Fantastic Four and Deadpool, could now potentially join the Marvel Cinematic Universe.

21st Century Fox assets not acquired by Disney include Fox News Channel, the Fox broadcast network and the Fox Sports 1 sports channel.

Disney, home to family friendly films such as Frozen, will now also include assets from Fox that target a different demographic, such as the gritty, acclaimed shows on FX Networks, as well as the National Geographic Channel.

Along with the movie studio and the aforementioned TV channels, Disney will have a majority ownership of Hulu, which airs originally produced series such as the critically-acclaimed hit The Handmaid’s Tale.

And added to the Disney library from Fox will be TV shows such as The Simpsons and classic films like The Sound of Music.

 

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