The deal covers the 21st Century Fox film and television studios, as well as a cable group that comprises FX, National Geographic, 300-plus worldwide channels and 22 regional sports networks.
Fox Corp. CEO Lachlan Murdoch is expected to address employees Thursday at a town hall meeting. These assets are now apart of a new company called FOX Corp.
Bart Simpson, Deadpool, Earn Marks, Jake and Neytiri have all taken their place on the Disney Company homepage, following the closure of the deal between Fox and Disney. "What lies ahead is the challenging work of uniting our businesses to create a dynamic, global entertainment company with the content, the platforms, and the reach to deliver industry-defying experiences that will engage consumers around the world for generations to come".
The newly minted company, which consists mainly of the Fox broadcast network, Fox News and local TV stations, also announced it will hold an investor conference on May 9. After months of flirting with the idea, Disney and Fox announced in December 2017 that they had agreed to a $52.4 billion deal that would sell off most of Rupert Murdoch's entertainment properties. What makes this intriguing is that Disney is about to launch Disney+, the studio's own streaming service, which means it technically just became its own competitor. He will serve alongside Rupert Murdoch, the founder of Fox, and Lachlan Murdoch, the company's chief executive and chairman. That includes specialty film division Fox Searchlight and the FX cable network - units that have received reassurances from Iger that they won't need to change their focus or water down their menus. It is though Dark Phoenix will be released in June, but New Mutants may get a streaming service release.
Disney's acquisition of 21st Century Fox is expected to be completed Tuesday night, marking the beginning of a truly freakish blended family of pop culture icons. Disney is also acquiring approximately $19.8 billion of cash and assuming approximately $19.2 billion of debt of 21st Century Fox in the acquisition.
A less-heralded addition, National Geographic, also provides a documentary and nature component, which figures prominently in Disney's plans, where the diverse array of programming also includes ABC News and ESPN.