Disney and Fox Shareholders Approve Deal, Ending Corporate Duel

One empire grows. Another shrinks.

In separate ballrooms at the Hilton Hotel in Midtown Manhattan on Friday morning, shareholders of the Walt Disney Company and 21st Century Fox agreed to a $71.3 billion purchase plan that gives Disney the bulk of Rupert Murdoch’s media empire, substantially altering the entertainment landscape.

Regulators in more than a dozen countries must still give their approval. But the shareholder votes brought to a close a six-month corporate showdown, waged across two continents by Disney and Comcast, for supremacy in the rapidly changing media business. Mr. Murdoch’s trove represented a once-in-a-lifetime opportunity to gain the bulk needed as a counterattack against the tech giants that have aggressively moved into Hollywood.

“Avatar,” the “X-Men” movies, “Titanic” and TV shows such as “The Simpsons” and “This Is Us” will now be owned by Disney. That adds to an already enviable content stockpile from divisions that include Lucasfilm, Marvel Entertainment and Pixar Animation Studios. The deal also gives Disney the cable networks FX and National Geographic; a controlling stake in the streaming service Hulu, which has more than 20 million subscribers; and Star, one of India’s fastest growing media companies.

Some people in Hollywood see the acquisition as the sad ending of an era. Disney is acknowledging that the future of television and movie viewing is online and this move could set off a wave of mergers in the film business, which has not seen significant consolidation since 1935, when 20th Century Pictures and Fox Film merged to form 20th Century Fox.

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A deal over half-a-year in the making has finally been given approval by shareholders. In twin meetings that lasted less than a combined 20 minutes Disney shareholders approved the $70+ billion offer while Fox shareholders accepted the offer.

At this point all that remains is approval from government regulators. Disney has already gained approval from the US government after they agreed to divest themselves of 22 regional sports networks currently owned by Fox. The estimated worth of these networks totals $22 billion. This still leaves Disney requiring approval from the EU and China, among others.

If the Disney does ultimately go through it will effectively end the empire Rupert Murdoch has built over the past six decades. While Fox will retain ownership of Fox News, FS1, and local networks Murdoch's son Lachlan will be in charge of the appropriately named New Fox. Disney on the other hand will significantly increase their already substantial holdings. Among the more important acquisitions will be a majority stake in Hulu, a service soon to be in direct competition with Disney's own streaming service.

While Comcast bowed out of the race about a month ago they haven't completely given up the fight. It sounds like they're now going to propose a new deal that will focus primarily on Fox's Sky series of networks.

So how does everyone feel about this deal? Is it in the spirit of the free market? Is it capitalism run amok? Or are you just happy that Wolverine and Captain America can now appear in the same movie?

a reply to: Xcalibur254

Hurray?

a reply to: Xcalibur254

What better way to sculpt the youth of America than to own their media?

Disney acquiring Fox is totally reasonable.

Mickey Mouse

Hmm interesting, but he didn't want to sell Fox News.

So the MSM arm remains such and can continue doing what they do, only with less support and less financial backing. Less support in D.C. as well, probably. Even though the news portion didn't sell, this will still change the political atmosphere.

First thing they need to do is put the Fox fanfare back into the Star Wars intros, then they can have even more of my money.

originally posted by: Kharron
Hmm interesting, but he didn't want to sell Fox News.

Seems he didn't want to part from any of his beloved news networks & papers.

So at the end of the day, this really doesn't mean much... The Murdoch empire still controls the 'official truth', in western society.

great now they can Disney can jack up X-man like they did to Star Wars

Will Captain America be an illegal immigrant from Mexico or just a 1st generation Muslim American

Maybe the super soldier serum will turn the puny little white man into either a big black guy or a big Indian women

originally posted by: SocratesJohnson
great now they can Disney can jack up X-man like they did to Star Wars

Will Captain America be an illegal immigrant from Mexico or just a 1st generation Muslim American

Maybe the super soldier serum will turn the puny little white man into either a big black guy or a big Indian women

What kind of absolute garbage is this?
If anything this is great for the MCU

a reply to: Soulece

why do you think making crap people won't watch is great ?

Avery Brooks(lead of Star trek who happens to be black) had a great comment about how does the character grow and change if you are casting for the color of their skin. One cannot play a color

If people like you stop judging things superficially, maybe we can enjoy better movies MMGA

very weird timing... with the eclipse this should signify an ending not a new beginning...

hmmm... wonder if there was some kind of a trade off behind the scenes

a reply to: SocratesJohnson

You know that Captain America is not an X-Man, and that Disney has owned Captain America for years, and that Disney has made many films with Captain America already. Films that did not change anything about the character....Right?

a reply to: karmicecstasy
Everything with Captain America on screen is Disney isnt it? To be honest, I am actually satisfied with how Disney has handled the MCU movies. Not so much Star Wars , Marvel is satisfactory. I mean im not at 100%, but rarely is anyone ever.

originally posted by: SocratesJohnson
a reply to: Soulece

why do you think making crap people won't watch is great ?

Avery Brooks(lead of Star trek who happens to be black) had a great comment about how does the character grow and change if you are casting for the color of their skin. One cannot play a color

If people like you stop judging things superficially, maybe we can enjoy better movies MMGA

What.
I want you to say every word of that out loud.
None of that made sense.

And it's done.

The end of an era: Disney's acquisition of 21st Century Fox is finally complete

a reply to: SocratesJohnson

If people like you stop judging things superficially, maybe we can enjoy better movies MMGA

so uh....if one can not play a color why all the hubub about white actors playing Egyptians not so long ago?
io9.gizmodo.com...
oh that only goes for whites?

pardon me please
I prefer my super heros to look like they were drawn in the comic strips
hulk is green
johnny storm is made of fire
sinestro is pink
anyone can write a story of a highschool kid that gets bitten by a radioactive spider
not anyone can play spiderman

originally posted by: SocratesJohnson
great now they can Disney can jack up X-man like they did to Star Wars

Will Captain America be an illegal immigrant from Mexico or just a 1st generation Muslim American

Maybe the super soldier serum will turn the puny little white man into either a big black guy or a big Indian women

Disney already has a replacement for Captain America after endgame.

originally posted by: Xcalibur254
And it's done.

The end of an era: Disney's acquisition of 21st Century Fox is finally complete

Xcalibur254 if you want my honest opinion on this, Disney is becoming to big and the bigger they become the harder they will fall.

I haven't bought anything Disney related since big hero six and i only bought it because you know camo appearance of stan lee. And animations were quite good.

Last Jedi was a joke.

a reply to: AugustusMasonicus

Sorry to burst your bobble but dont get your hopes up.
Source

a reply to: AtlasHawk


He's talking about the plot, I'm talking about the intro.

And he isn't in charge, Kathleen Kennedy is, so put my damn fanfare back in.