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Disney Buys Fox For $52 Billion – Now Owns 60% of Hulu

Today it became official as Disney is buying Fox for about $29.54 per share, based on Disney’s closing share price Wednesday. The businesses included giving the deal a total value of approximately $66.1 billion, with Disney assuming $13.7 billion of Fox’s net debt.

With this deal, Disney will get ownership of 20th Century Fox movie and television studio, Fox’s 22 regional sports channels, cable channels including FX and National Geographic, and Fox’s portfolio of international operations, including a fast-growing pay-TV service in India. The deal will also give Disney 60% ownership of Hulu.

The deal does not include Fox News, the Fox broadcast network, television stations and Fox Sports 1 and Fox Sports 2. His newspapers such as Wall Street Journal, New York Post, Times of London and a portfolio of Australian properties are housed in a second company, News Corp.

“We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings,” Iger said in a statement.

“The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world,” Iger said.

The deal still needs to approve before it can be official and many are speculating the DOJ may request some parts of Disney or Fox be sold off to approve the deal.

Source: Bloomberg

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