Hold on to your hats as TV and movies may soon never be the same. CNBC is reporting that on Thursday Disney and Fox will announce a deal for Disney to buy most of Fox.
According to reports, Disney is expected to acquire the 20th Century Fox film and television studios, channels such as FX and NatGeo, Fox’s regional sports networks and its 30% stake in subscription streaming service Hulu. Disney could also get U.K.-based TV and Internet provider Sky, of which Fox currently owns 39% and is seeking to acquire in its entirety.
This will leave Fox with most of their sports assets like FS1 and news organizations like the Fox News Channel.
This will give Disney 60% ownership of Hulu and for the first time, Hulu will have a single owner with a majority control. Many are reporting that Disney may try to use Hulu technology to help kick-start their new Disney streaming service in 2019. It has also been rumored that Disney may just try to turn Hulu into that new streaming service by adding additional Disney, Pixar, Marvel, and now Fox content to Hulu.
It is rumored that this deal will be valued at above $60 billion. Yet if they add in the regional sports networks that could push the price higher. This could make the Disney purchase of Fox one of the most significant deals ever seen in the world of entertainment.
Source: CNBC
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