While not a dramatic follower, it is still one of Hollywood's most anticipated highlights.
the largest traditional media company in the world, completed the acquisition of major parts of Hollywood giant 21
It completes one of the most impressive examples of Hollywood coping with the extremely competitive digital power plants such asand – soon – . These deep-pocketed companies invest a lot of money in their own TV shows and movies. Streaming services 'low monthly rates have fueled cable TV cutbacks and, in the case of Netflix, have sought to upgrade cinemas' theatrical release standards – all threats to how companies like Disney and Fox earn money.
Crucially, the acquisition of Fox will be completed prior to Disney's planned launch of its own Netflix-style streaming service, called. Disney boss Bob Iger has named the streaming service for 2019 as "the highest priority" of the company. With Fox, Disney is providing an even more extensive library of high-profile content.
Fox is home to blockbuster concessions such as X-Men, Deadpool, Kingsmen and Planet of the Apes; Animated films like Ice Age; and TV assets like The Simpsons, as well as fancy network effects. The deal includes the 21st Century Fox film and television studios as well as a cable group consisting of FX, National Geographic, 300 international channels and 22 regional sports networks.
The contract also includes the broadcast giant Sky in the UK and Europe.
The deal passes Fox's 30% stake in Hulu to Disney, doubling Disney's ownership and making Hulu a majority shareholder for the first time in its more than ten-year history. Comcast's NBCUniversal still holds 30 percent and AT & T's WarnerMedia the remaining 10 percent.
Disney's merger with Fox followsthe parent company of HBO, CNN, Warner Bros. Others. AT & T has cleared the last regulatory uncertainty about the Time Warner acquisition earlier this year.
Originally published at 16:10. PT.
Update at 21:05. PT : With official conclusion of the deal.