Walt Disney buys Murdoch’s Fox for $52.4 bn

Disney

Walt Disney says to buy 21st Century Fox entertainment business for a total of $52.4 billion (£39bn).

The offer includes the Fox’s 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, the walt Disney company has announced.

Fox’s remaining assets, including Fox News and Sports, will form a new company.

The deal ends more than half a century of media expansion by Fox owner Rupert Murdoch, that he is 86 years old.

He turned a single Australian newspaper he inherited from his father at the age of 21 years in one of the largest in the world, news and movie empires.

Mr. Murdoch’s shift to the sale of assets rather than buying them came as a surprise to those who expected him to hand over the business to his sons, James and Lachlan.

Disney buys Fox assets of $52.4 billion in stock, in addition to approximately $13.7 billion of net debt, leaving the value of the transaction of approximately $66.1 billion.

It is not clear how the deal will be received by the US antitrust regulators.

The Department of Justice recently sued to block AT&T’s $85.4 billion agreement to buy Time Warner, on the basis of the fact that will raise prices for consumers and competitors.

Fox’s proposed deal to buy the rest of the Sky is already being investigated by the UK Competition and Markets Authority (CMA), which is due to publish interim results in the month of January.

The BBC understands that the Disney deal not to alter the survey.

Disney chief executive Bob Iger will remain in his role until the end of 2021.

Fox is the sale of assets, including FX and National Geographic cable channels and media company Star India.

Disney to buy Fox’s stake in Hulu video streaming service, giving most of the control of a competitor to Netflix.

Hulu is partially owned by Comcast, and Time Warner.

The deal will also add the Disney’s huge catalogue, with high-grossing films like the original Star Wars films, Avatar and x-men, Wolverine, the hit TV, including The Simpsons.