The Disney Twenty-First Century Fox merger just got confirmed

The Disney Twenty-First Century Fox merger just got confirmed

The Disney Twenty-First Century Fox merger just got confirmed

The move will see Disney snap up a significant slice of Rupert Murdoch's media empire, including its film and television studios, cable entertainment networks and global TV businesses such as its 39% stake in Sky.

Fox shares have turned lower premarket after an initial goosing: FOX -3% to $31.38; FOXA -3.8% to $31.50.

Yes, that means Disney can now reunite X-Men, Fantastic Four, and Deadpool with the Marvel family. As part of the Fox's film division, Disney also gets Fox Searchlight.

Fox will spin off and retain some of its properties, including Fox News, but Disney will own Fox's massive film and TV empires.

Disney CEO Robert Iger has made a grand addition to the house that Walt built. And Hulu is, of course, a Netflix rival.

Disney will also assume about $13.7 billion of Fox's net debt in the deal.

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But the Fox content influx sets up Disney for the future and its planned direct-to-consumer streaming services - the ESPN Plus sports subscription service next year and, in 2019, a Disney streaming offering with the newest Disney, Pixar, Marvel and Star Wars feature films as well as new Marvel, Pixar Monster and High School Musical TV series.

Not everything is going to Disney, however.

Before the buyout, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

It was announced at the same time that due to the sale, Disney's longtime CEO Bob Iger would be staying on through 2021 in his current position, marking the third time he has extended his contract.

The acquisition will give Disney a new pipeline of shows and movies as it battles technology companies spending billions of dollars on programming shown online to siphon audiences away from traditional TV networks.

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

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