Disney to Buy 21st Century Fox Assets in Megamerger

This deal will shake the entertainment and media industries.

Bob Iger will remain Disney's chairman and CEO through the end of 2021. (Wiktor Szymanowicz / Barcroft Media via Getty Images)
Barcroft Media via Getty Images

Disney announced a deal to acquire many parts of 21st Century Fox for $52.4 billion in stock. The megamerger gives Disney Fox’s movie studios, network National Geographic, Asian pay-TV operator Star TV, stakes in Sky and Hulu and regional sports networks. This deal will bolster Disney’s plans to become a more dominant streaming service platform, and it also helps make them a bigger threat to Netflix. Bob Iger will remain Disney’s chairman and CEO through the end of 2021, because the board of directors at both companies requested it. Netflix may lose some of their content through this deal, and will have to spend more to remain competitive.

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