Disney closes 21st Century Fox deal at $71.3 billion

Disney will now get control of 21st Century Fox movie and TV studios, cable networks like FX and National Geographic, and Star Network. 

by exchange4media Staff
Published - Mar 20, 2019 12:01 PM Updated: Mar 20, 2019 12:01 PM
Disney

Walt Disney Company has completed its purchase of 21st Century Fox at $71.3 billion, as per media reports. 

Disney will now get control of 21st Century Fox movie and TV studios, cable networks like FX and National Geographic, and Star Network. 

21st Century Fox on Tuesday created stand-alone company Fox Corp with Fox broadcast network, Fox News, Fox Business Network and Fox Sports. 

Disney chairman and CEO Robert Iger issued a statement saying, “This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders.” 

“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era,” Iger was quoted in media reports.

According to media reports, Peter Rice, president of 21st Century Fox and chairman and CEO of Fox Networks Group, is now chairman of Walt Disney Television and co-chair of Disney Media Networks. 

He will be taking over from Ben Sherwood. Rita Ferro, president of Disney advertising sales, will oversee all Disney media properties.

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