Disney Makes Deal for 21st Century Fox, Reshaping Entertainment Landscape
Source: New York Times
LOS ANGELES The Walt Disney Company said Thursday that it had reached a deal to buy most of the assets of 21st Century Fox, the conglomerate controlled by Rupert Murdoch, in an all-stock transaction valued at roughly $52.4 billion.
To complete the integration, a legacy-defining task, Robert A. Iger, Disneys chief executive, agreed to renew his contract for a fourth time, delaying retirement from July 2019 to the end of 2021.
While the merger still requires approval by antitrust regulators and the Justice Department recently moved to block a big media company from becoming even bigger the once unthinkable acquisition promises to reshape Hollywood and Silicon Valley. It is the biggest counterattack from a traditional media company against the tech giants that have aggressively moved into the entertainment business.
Disney now has enough muscle to become a true competitor to Netflix, Apple, Amazon, Google and Facebook in the fast-growing realm of online video.
Read more: Link to source
Yavin4
(35,443 posts)Mickey Mouse won't be Sean Hannity's co-host.
shawn703
(2,702 posts)Yavin4
(35,443 posts)That's going to happen regardless.
BumRushDaShow
(129,127 posts)No it doesn't except for owning certain "content". Neither Disney nor Fox Entertainment are "tech" in the manner of Amazon or Apple, etc.
melm00se
(4,993 posts)21st Century Fox owns, I believe, a chunk of Hulu and so does Disney, so they now have the tech muscle to be part of the streaming world.
BumRushDaShow
(129,127 posts)I thought I heard that on the radio this morning but only caught it near the end of the report.
What is still missing however, is the more robust infrastructure needed to share that content and the means to get it to the consumer. I remember when Netflix was moving to streaming and the issues they had (and still have) with the ISPs (this is "net neutrality" material) to get their content to consumers. I.e., the "pipes".
With the vote that will happen today to kill net neutrality (and the GOP WILL do that), large entertainment conglomerates like this are going to have a problem when "competitors" like Comcast start throttling content that they don't already own (e.g., Comcast owns NBC/Universal)... because they can.
Blue_Adept
(6,399 posts)There's some strong infrastructure they're gaining globally through Sky and a piece from India that's going to be integral as time goes on. Plus having a larger share of Hulu will mean they can rebuild/brand things in a more cohesive way. Combine that with the MoviesAnywhere phase that's now rolling out more as well.
BumRushDaShow
(129,127 posts)and also subscribe to Hulu, how is what you wrote going to keep Comcast from throttling the Hulu content to my devices or TV?
Achilleaze
(15,543 posts)Orange Free State
(611 posts)...and Goofy hosts, Fox might as well already be part of Disney.
muriel_volestrangler
(101,322 posts)...
The transaction also marks a pivotal moment for the Murdoch dynasty with the departure from the business of James, who is also chairman of Sky. The move paves the way for his elder brother, 46-year-old Lachlan to inherit executive control of the Murdoch empire. Lachlan is co-chairman of 21st Century Fox and News Corp, the separately listed business that owns the Murdoch newspaper assets including The Times, The Sun and the New York Post.
The deal will not, for now, impact the proposed takeover by 21st Century Fox of the 61% of Sky it does not own. The Competition and Markets Authority will continue to investigate the deal as a Murdoch-brokered takeover, pending Foxs Sky stake officially changing hands.
...
21st Century Fox said that it intends to spin-off the remaining assets as a separate business, called New Fox, that will include Fox Broadcasting network and stations, Fox News, Fox Business, Fox sports and its regional network of stations in the US.
https://www.theguardian.com/media/2017/dec/14/rupert-murdochs-60bn-disney-deal-reshapes-his-media-empire
muriel_volestrangler
(101,322 posts)Thanks.
Eugene
(61,903 posts)Roland99
(53,342 posts)... a broad collection of valuable cable properties including FX Networks, the National Geographic channels, Fox Sports Regional Networks, Fox Networks Group International and Star India, as well as Foxs interests in Hulu, Sky plc, Tata Sky, and Endemol Shine Group.
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Fox Sports too? Sweet!