- Disney (NYSE:DIS) confirms its deal with Twenty-First Century Fox (NASDAQ:FOXA) to acquire 21st Century Fox for $52.4B.
- The deal includes the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses.
- 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.
- Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold.
- The acquisition price implies a total transaction value of approximately $66.1B.
- "The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” says Disney CEO Robert Iger,
- At the request of both boards, Iger has agreed to continue as chairman and CEO of Disney through the end of calendar year 2021.
- DIS -0.06% premarket to $107.55
- Source: Press Release
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