Disney completes takeover of 21st Century Fox in £54 billion deal

Walt Disney Company has completed a historic takeover deal of 21st Century Fox, worth a mammoth £53.7 billion ($71.3 billion).

The huge deal will now see Fox’s entertainment assets now being moved under the Disney umbrella, including its film and TV studios, TV networks – FX, National Geographic and Star India.

Furthermore, Disney also increased its 30% stake in streaming service, Hulu, giving it majority stake. Meanwhile, Disney will be launching its own rival to Netflix later this year.

“This is an extraordinary and historic moment for us—one that will create significant long-term value for our company and our shareholders,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company.

He added, “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.”