The Disney Twenty-First Century Fox merger just got confirmed

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Prior to the deal closing, Rupert Murdoch's 21st Century Fox will separate the Fox broadcasting network, Fox News Channel, Fox Business Network, and some national sports networks into a new company that will be spun off to its shareholders.

As a result, Disney will acquire Fox's film and much of its TV operations for a price of over $52 billion in stock. Disney will also assume approximately $13.7 billion of net debt of 21st Century Fox.

The 53-acre Fox studio lot on Pico Boulevard near Los Angeles will stay with that company that will remain under the control of Rupert Murdoch, though it remains to be seen what the plans are for the $425 million piece of property.

Disney will take on a large amount of entertainment assets of the media conglomerate, including the FX Networks, National Geographic, 22 regional USA sports networks, and the company's stake in the streaming platform Hulu in the United States, according to BBC.

Disney chairman and CEO Robert Iger, 66, has been set to exit his post in 2019, but amid the deal, he has agreed to extend his contract through the end of 2021. (DIS) in a deal that valued at about $52.4 billion.




Disney is adding even more prime entertainment assets to an already swollen portfolio as it battles upstart streaming services that have undercut the traditional cable subscription model.

Walt Disney Co shares fell $0.06 (-0.06%) in premarket trading Thursday.

Also included in the deal are Fox's USA cable networks including FX and the National Geographic Channel as well as India's Star TV. Disney is quickly cornering the movie blockbuster market with its Marvel and Lucasfilm brands.

Bringing on board 21st Century Fox's entertainment content and capabilities, along with its broad global footprint and a world-class team of managers and storytellers, will allow Disney to further its efforts to provide a more compelling entertainment experience through its direct-to-consumer (DTC) offerings.

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