Disney Closes Deal To Acquire 21st Century Fox

The Walt Disney Company has closed its £54billion acquisition of 21st Century Fox.

Disney will be able to provide more content and entertainment options to meet growing consumer demand, increase its international footprint and expand its direct-to-consumer offerings, which include ESPN+ for sports fans, theDisney+ streaming video-on-demand service launching in late 2019; and Disney and 21st Century Fox’s combined ownership stake in Hulu.

"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. "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."

The acquisition includes 21st Century Fox's renowned film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox's television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox's interests in Hulu, Tata Sky and Endemol Shine Group. Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox's Regional Sports Networks.