Current Affairs Telugu Daily
Walt Disney buys 21st Century Fox for $52.4 billion
The Walt Disney Company's $52.4 billion acquisition of 21st Century Fox's film and entertainment business is its biggest and most expensive deal so far. With this deal The Walt Disney Company will inarguably be the most formidable media conglomerate in the world.
Disney will scoop up Fox's movie and television studios, regional sports network and international holdings, among other investments. The move adds to Disney's back catalogue high-grossing films such as the original Star Wars movies, the Marvel superhero pictures, Avatar and Deadpool, as well as TV hits such as Modern Family and The Simpsons. The purchase also extends Disney's global reach, adding media company Star India and Fox's interests in Sky plc and Tata Sky to its portfolio.
Disney will also get majority control of the video streaming service Hulu, which is also partially owned by Comcast and Time Warner. Disney will assume $13.7bn in Fox debt as part of the stock deal, taking the total value of the transaction to more than $66bn.
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