Mouse eats Fox for $71B
Deal done, Disney gets more enormous
The Mickey Mouse house just got a whole lot bigger.
The Walt Disney Company completed a $71.3 billion deal of epic proportions with 21st Century Fox, adding coveted franchises such as “X-Men,” “The Simpsons” and “Deadpool” to Disney’s already impressive portfolio.
Disney, which obtained production companies such as Twentieth Century Fox and Fox Searchlight Pictures, among other entities, in the deal, also now owns “Avatar,” the FX Networks, National Geographic and Fox’s partial ownership of Hulu.
“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” Disney CEO Bob Iger said in a statement.
“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
The deal became official on Wednesday shortly after midnight. Disney also acquired Fox Animation, Twentieth Century Fox Television and Star, a massive network in India.
The new additions join a Disney portfolio that also features mega-franchises such as “Star Wars,” the Marvel movies, ESPN, ABC and Pixar.
It’s a deal that had been in the works since late 2017. Last June, the Justice Department approved the transaction so long as Disney obliged to sell 22 regional sports networks that were included in the Fox package.
On Tuesday, actor Ryan Reynolds shared a photo of his “Deadpool” character wearing Mickey Mouse ears to Twitter to commemorate the sale.
The showrunner for “The Simpsons,” Al Jean, meanwhile, tweeted a photo showing Homer Simpson strangling Mickey, along with the caption, “Thank you Fox and welcome Disney!”
The Walt Disney Co. website now includes photos of Bart Simpson, “Deadpool,” characters from “Avatar” and Donald Glover of “Atlanta” on its front page.