Rupert Murdoch Made $581 Million in One Day After Disney-Fox Deal

Gladys Abbott
December 15, 2017

The deal will extend Disney's footprint in pretty much every area of entertainment.

The acquisition of Twenty-First Century Fox's entertainment properties will strengthen Disney's repertoire which already has some popular titles including its animated features, "Marvel" and "Star Wars" films.

Disney is buying a large part of the Murdoch family's 21st Century Fox in a $68 billion ($US52.4 billion) deal, including film and television studios, cable and worldwide TV businesses as it tries to meet competition from technology companies in the entertainment business.

Bob Iger, Disney's chief executive, said in August that he.

It's the biggest acquisition in Disney's history, and a surprising sale for the 86-year-old media mogul who has kept a close watch over a business empire he spent decades building. The country's current business is valued at $11 billion to $14 billion, which means that India's business constituted was a major chunk of the amount involved in the deal.

The Justice Department has sued to block that AT&T deal, and Disney's Fox transaction is also likely to receive heavy regulatory scrutiny by bringing so many media assets under one roof. Buying Fox's movie studio will give Disney the rights to make movies based on the X-Men comic books, adding to an already stocked cabinet of superheroes such as Iron Man and Thor.

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There are some parts of Fox the Disney deal does not cover, such as the Fox News Channel, local Fox stations and the Fox broadcast network.

21st Century Fox shares ended Thursday trading up 6.5%. The 20 per cent share that Murdoch had in Tata Sky, will also go to Disney.

That facade was shattered last month with the revelation that Disney had discussed acquiring the Fox assets. Comcast - the cable giant that owns NBCUniversal - Verizon Communications Inc. and Sony Corp. all expressed interest in parts of the company.

Disney's move to acquire the Fox library of content is seen as a bid to bolster its arsenal against Netflix and Amazon as well as emerging tech players such as Facebook and Apple, which are cashing in on a move towards streaming services and away from traditional pay TV packages.

Speaking to investors, he said Mr Murdoch would "be integral to helping us integrate these companies".

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