Update, 10/10/18:
The Disney and Fox merger is moving ahead quickly. Via Variety, 21st Century Fox president Peter Rice gave January 1 as a deal closing date to Fox employees during a meeting on October 10. That’s less than three months away. And in response to questions from employees, Rice mentioned the merger will cause layoffs.
Original post:
Late last year, Disney revealed its multi-billion dollar plans to buy the majority of Fox’s assets, films, and TV shows. That deal was nearly derailed by Comcast as a rival suitor for Fox, but Comcast’s recent surrender paved the way for Disney’s final victory. Now, the Fox shareholders have approved Disney’s $71 billion offer, and the merger is official.
Via CNBC, the long-awaited Disney and Fox deal has already received conditional approval from the government as well, but it won’t be an instantaneous merger. In other words, don’t expect the X-Men and the Fantastic Four to suddenly show up in Avengers 4. Although we would totally love to see that. But it’s more likely to occur after both companies have firmly established their union, and fans are just going to have to be patient.
According to the latest report, Disney and Fox will still take several months to combine operations and finalize the merger. The combined company is expected to have a near stranglehold on the box office. Disney alone has Marvel, Pixar, and Lucasfilm bolstering its own lineup of films. Fox has also been one of the biggest studios in Hollywood, and its combined output with Disney will only give them more leverage over consumers and creators.
It’s worth noting that Disney is launching its own streaming service next year, and the Fox library of shows and films will probably be a part of that as well. Under the deal, Disney and Fox now own a controlling interest in Hulu, with rival Comcast owning the remaining shares of that shared company. We’re very curious to see how all of this will play out.
How do you feel about the Disney and Fox merger? Let us know in the comment section before Disney acquires us as well!
Images: Marvel Studios/Fox
