Disney won its bidding war with Comcast last year by making an offer of $71.3 billion. This deal has still taken nine months to gain all the necessary regulatory approval.
The deal solidifies Disney’s already-dominant position in Hollywood. As it seems, one studio is enough to draw massive audiences to movie theaters. Thanks to its previous acquisitions of Marvel, Star Wars and Lucasfilm. Disney has had the number one movie at the worldwide box office. Fox also has channels such as FX Networks and National Geographic. Fox’s productions also include “The Americans,” ”This Is Us” and “Modern Family.”
CEO Bob Iger says that Disney will invest in more original content for Hulu and help it expand internationally.
“I wish I could tell you that the hardest part is behind us. That closing the deal was the finish line, rather than just the next milestone.” Iger said in a staff memo. “What lies ahead is the challenging work of uniting our businesses to create a dynamic, global entertainment company.”
Meanwhile, Fox’s news and sports divisions — including Fox News, the Fox broadcast network and Fox Sports — have a spun out. As a new Fox Corporation, the acquisition is expected to result in more than 4,000 layoffs.
Hence the deal, per se seems very exciting. Audience should just wait and watch what appears on the bog screen.