Shareholders have approved Disney’s acquisition of 21st Century Fox

Illustration by James Bareham / The Verge

Shareholders have approved Disney’s acquisition of 21st Century’s film and television studios this morning, paving the way for Disney to add Fox’s catalog of networks and intellectual property to its already vast holdings.

Disney will be required to divest itself of Fox’s regional sports networks, because it already owns ESPN. The company also won’t acquire all of Fox’s holdings: the remaining assets — some broadcast networks, including Fox News, Fox Business and Fox Sports, and local TV stations will be spun into a new company called New Fox.

Word broke in November 2017 that Disney had been speaking with 21st Century Fox about acquiring the company’s film and television divisions, and after some back-and-forth, Disney closed on a deal for the company, to the tune of $52 billion. The deal was complicated months later when Comcast made its own offer — $65 billion — prompting Disney to up its offer to $71.3 billion, forcing Comcast to throw in the towel. While the companies worked out the final price, the deal ultimately had to be approved by shareholders.

The Wall Street Journal notes that while shareholders for both companies have approved the deal, Disney will have to go through regulatory approvals from various “international territories,” even though the US Justice Department has already approved the deal — a major concern from 21st Century Fox in the midst of the negotiations.

Fox’s executive chairman Rupert Murdoch was prompted in part to sell off his media empire’s entertainment assets because of the increased competition from digital media companies like Netflix and Amazon. With those assets, Disney will be better able to compete as it launches its own streaming services, given that it’ll be acquiring vast amounts of new content, including franchises such as Alien, Avatar, and X-Men.

Comments

well, at least Fox got a good premium on the price. but in the end the merger both companies wanted was inevitable.

Bad that there is less competition, but I can’t sit here and act like I don’t want a really good Fantastic Four film. I wish at least one company could compete with the size and strength of the MCU. (or that WB makes standalone DC movies good enough to take some of the dominance away from the mouse. Not holding my breath though)

Why does such a successful studio as WB constantly fail so hard with DC movies?

They are out of touch and desperately need someone talented to take over and lead them in a new creative direction. Snyder is way too dark to direct more than Batman. And even then the writers for BvS were pitiful. Need some new talent period.

I would say Nolan ruined DCEU/Worlds of DC. Everyone tried to replicate the look and feel from the first 2 films.

And everyone expected the films to be Nolan-liked with Nolan’s name labelled as executive producer.

I was barely familiar with Snyder before MoS and BvS, but I think the designs and world created under his direction were absolutely stunning; the general census is that Affleck, despite people’s distaste for the deaths in the movie, portrayed the most accurate Bruce Wayne/Batman.

I’m tired of fantastic four already. I’d hope that Marvel holds off on integration of FOX properties until the current MUC roster can dwindle down a bit.

Comics use too much tropes, plot gimmics involving alternate realities and multiverses to get away from lack of cohesive writing involving consistent storyline. MCU can barely manage that now (Q where the f was ironman in winter solder? A: he was having a personal crisis of faith hence, was zoned out of a world threatening event) and I can’t imagine that happening easily with mutants added to the picture.

Next step:
Cancel New Mutants and that next X-men films

I thought they started off strong with First Class. What the hell happened?

The same thing happened to the original X-Men trilogy (didn’t age well of course).

X2 was a strong entry before MCU was a thing, then 3rd time’s charm The Last Stand happened…

WE FINALLY GET XMEN AND FANTASTIC FOUR!! Now bring Silver Surfer into Inifnity war films like he was in the comics!!

Ah. The love of more money ruining things again and again. The people will never be able to have good things, but for a moment. Each time the masses focus their gaze on it, the money monsters want to have it all, they fight, they divide and should any thing be on the table, it becomes lost too.

SIDENOTE: Moviepass isn’t being used to ruin movies, the up-cost to see one (and the cost of snacks) rising to the par of an actual live theater is ruining movies. People want to see them, but know it’s a gamble. A movie night experience for two can rise to the basic 60 bucks and should the movie be a terrible one, it’s cash that can’t be given back. If every movie was a "winner" then sure, let’s go, but they are not all. Reduce the pricing and many wouldn’t mind giving it up and smacking happily or really spend time to make them all worth the venture. Movie pass isn’t helping ruin anything, Hollywood greed is doing that all on it’s own.

So basically the Murdoch’s sold the best parts of their company away and kept the worst parts. Got ya!

That’s a pretty great idea for a logo…

View All Comments
Back to top ↑