Walt Disney buys Murdoch's Fox for $52bn

[nitpicker]

http://www.bbc.com/news/business-42353545

Walt Disney buys Murdoch's Fox for $52bn

14 December 2017

Walt Disney has agreed to buy the bulk of 21st Century Fox's business for $52.4bn (£39bn), in a deal both companies said position them to compete in the rapidly changing media industry. The purchase includes Fox's film and television studios, as well as its 39% stake in satellite broadcaster Sky.

Fox will form a news-focused company with its remaining assets. The move is a sharp shift for 86-year-old Fox owner Rupert Murdoch after more than half a century of media expansion.

Mr Murdoch turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's largest news and film empires. He said the break-up makes sense amid new threats from online advertising and competitors who are streaming entertainment into homes via the internet.

Fox shareholders, who include the Murdochs, will get a 25% stake in the larger Disney.
(snip)

[nitpicker]

1. News-focused company?

More like fake news company.