Disney Acquires Significant Assets of 21st Century Fox, Inc. for $52.4B In Stock
The Walt Disney Company (NYSE: DIS) and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media.
The Walt Disney Company and Twenty-First Century Fox, Inc. (NASDAQ: FOX) announced their agreement for Disney to obtain significant assets of 21st Century Fox. This agreement includes the acquirement of Twentieth Century Fox Film and Television studios and the cable and international TV businesses for $52.4B in stock. Fox Broadcasting network and stations, Fox New Channel, Fox Business Network, FS1, FS2, and Big Ten Network will be separated into a newly listed company and spun off to its shareholders. With the new agreement, 21st Century Fox shareholders will receive 0.2745 Disney shares per 21st Century Fox share held.
“We are extremely proud of all that we have built at 21st Century Fox, and I firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace in what is an exciting and dynamic industry.” -Rupert Murdoch, Executive Chairman of 21st Century Fox.
Robert A. Iger will remain the Chairman and Chief Executive Officer of the Walt Disney Company through the end of 2021, per the request of 21st Century Fox and the Disney Board of Directors.
This acquisition continues to build on Disney’s commitment to deliver the highest quality branded entertainment, provides new benefits to customers, and enhances Disney’s worldwide offerings.