Disney has announced that they’ve acquired 21st Century Fox for $66.1 billion USD, with $52.4 billion of that being in stock.
The deal will include Fox’s film and television studios, cable entertainment networks and their international TV businesses, such as the Star TV network in India and their 39% stake in Sky in Europe.
Shareholders of 21st Century Fox will in return receive 0.2745 Disney shares for each Fox share they own. Disney will assume Fox’s $13.7 billion USD net debt with the deal.
It will also include properties such as X-Men, Avatar, The Simpsons as well as FX Networks and the National Geographic channel.
This deal also means that Disney now has Fox’s 30% stake in Hulu (which was a conglomerate) and now Disney owns 60% of Hulu, while Comcast has a 30% stake and Time Warner a 10% stake.
Because of this deal, Disney CEO and Chairman Bob Iger will remain in his position until 2021, he was originally scheduled to step down in July 2019.