Published: Thu, March 21, 2019
Entertaiment | By Simon Arnold

The Mouse Eats Up Fox Entertainment In Buy Out Deal

The Mouse Eats Up Fox Entertainment In Buy Out Deal

Fox also said that its board approved the adoption of a so-called "poison pill" in the form of a temporary stockholder rights agreement.

"The spinoff comes amid high anxiety on the Fox lot in Los Angeles because of the anticipation that more than 3,000 jobs will eventually be eliminated as part of Disney's consolidation of the remaining Fox assets, two people familiar with the matter said".

There are a few more X-Men movies already on the way from Fox, and those will be seen through under Disney's umbrella. "At a time of dynamic change in the entertainment industry, the combination of Disney's and Fox's unparalleled collection of businesses and franchises will allow us to create more appealing high-quality content, expand our direct-to-consumer offerings and global presence, and deliver more personalized and compelling entertainment experiences to meet growing consumer demand around the world".

Almost two years after Disney's multi-billion dollar deal to acquire key entertainment assets from 21st Century Fox was announced, the Disney-Fox acquisition has been completed to the tune of $71.3 billion.

The newly minted company, which consists mainly of the Fox broadcast network, Fox News and local TV stations, also announced it will hold an investor conference on May 9.

At the strike of 12:02 a.m. ET on Wednesday, Disney officially completed its takeover of 21st Century Fox.

Disney is hungry for content, as the studio prepares to launch its own subscription streaming service, Disney+, later this year. Disney gets far ranging properties ranging from Fox's film studios, including "Avatar" and X-Men, to its TV productions such as "The Simpsons" and networks including National Geographic.

And of course, Deadpool had something to say about it. Ryan Reynolds took to Twitter and posted a picture of himself as Deadpool wearing Mickey Mouse ears on a school bus which reads "Disney". Disney is also picking up a controlling stake in Hulu, which became the first streaming service to snag a best-drama Emmy with "The Handmaid's Tale". The Justice Department OK'd the acquisition last summer as long as Disney, which owns ESPN, agreed to sell off 22 regional sports networks that were originally part of the purchase.

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