Watching TV, Watching, Living Room, Domestic Life, Smiling

Disney Plans to Use Proceeds from Selling Fox’s RSN & Sky to Invest in Streaming

Watching TV, Watching, Living Room, Domestic Life, SmilingToday it was announced that Fox & Disney have agreed to sell FOX share of Sky to Comcast. Currently, (Fox’s share of Sky is said to be worth more than $15 billion)

Well Fox still owns the shares of Sky they are apart of Disney’s deal to buy most of Fox so, most of the profits should end up with Disney. Now Disney says they plan to use the profits from the sale of Sky and the future sale of Fox’s regional sports networks to invest in ESPN+, Hulu, and Disney’s new streaming service launching next year.

“Along with the net proceeds from the divestiture of the RSNs, the sale of Fox’s Sky holdings will substantially reduce the cost of our overall acquisition and allow us to aggressively invest in building and creating high-quality content for our direct-to-consumer platforms to meet the growing demands of viewers,” said Bob Iger, chairman and CEO of Disney, in a statement.

Before Disney can get this money they still need to close their deal with FOX. Look for that to happen late this year or sometime in 2019.

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