It’s finally official: Disney has set a historic $52.4 billion all-stock deal to acquire several key entertainment and sports assets from 21st Century Fox.
Disney CEO Bob Iger has also extended his contract through the end of 2021 to oversee the integration of these assets, as revealed in the announcement made on Thursday.
Here’s the press release:
The Walt Disney Company and Twenty-First Century Fox, Inc. (21st Century Fox) today announced that they have entered into a definitive agreement for Disney to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock (subject to adjustment). Building on Disney’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. Immediately prior to the acquisition, 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.
Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold (subject to adjustment for certain tax liabilities as described below). The exchange ratio was set based on a 30-day volume weighted average price of Disney stock. Disney will also assume approximately $13.7 billion of net debt of a. The acquisition price implies a total equity value of approximately $52.4 billion and a total transaction value of approximately $66.1 billion (in each case based on the stated exchange ratio assuming no adjustment) for the business to be acquired by Disney, which includes consolidated assets along with a number of equity investments.
Popular Entertainment Properties to Join Disney Family
Combining with Disney are 21st Century Fox’s critically acclaimed film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar, X-Men, Fantastic Four and Deadpool, as well as The Grand Budapest Hotel, Hidden Figures, Gone Girl, The Shape of Water and The Martian—and its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox’s interests in Hulu, Sky plc, Tata Sky and Endemol Shine Group.
Comic book fans are well aware that the deal allows Disney to finally have the film rights for the X-Men and Fantastic Four characters, with the option to absorb them into the established Marvel Cinematic Universe. This scenario that once seemed like nothing more than an implausible fanboy fever dream is now finally becoming a reality.
What do you guys think? Are you excited about what this deal means? Be sure to sound-off your thoughts in the comment section below!
Stay tuned for more information on the Disney-Fox merger as it becomes available.
5 Superhero Projects You Should Be Excited About In 2018
Some people may complain about superhero fatigue, but for fans of the genre, 2018 looks like it will be an amazing year. Not only will hit shows like Marvel’s Daredevil and Arrow continue, but there are a lot of new projects coming for superhero fans. Ranging from games to movies, Marvel and DC have been hard at work turning their comic book characters into multimedia icons.
This list doesn’t even include things like New Mutants and The Runaways, two superhero projects coming in 2018. There are so many amazing things coming out of the comic book world, with new projects seemingly announced every day, so this is just a quick rundown of the five things that excite my inner fanboy.
Hit Next to learn more about five exciting superhero projects coming in 2018!