The Walt Disney Company said on 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.
the agreement gives Disney the opportunity to reunite and return the X-Men, Fantastic Four and Deadpool to the Marvel family under one roof.
Subject to the approval of federal regulators, the sale would also give Disney ownership of Fox’s cable entertainment networks, such as FX Networks and National Geographic, international television businesses, and 30-percent interest in Hulu. Disney, which already owns a 30-stake in the streaming service, will now have controlling interest. The acquisition is expected to be complete within 12 t0 18 months.
Disney Chairman and CEO Robert A. Iger said in a statement. “We’re honored and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building, and we’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”