Published: Fri, March 15, 2019
Money | By Ralph Mccoy

Disney's Acquisition of 21st Century Fox Set to Close Next Week

Disney's Acquisition of 21st Century Fox Set to Close Next Week

Winning Mexico's consent was the final hurdle for Disney to wrap up its 9-month quest to secure all of the government approvals that it needed.

To strengthen its lead in USA media and entertainment industry, Disney announced a deal to acquire many parts of 21st Century Fox for a price of 52.4 billion dollars in an offer in December 2017.

The closing of The Walt Disney Co.'s merger with Twenty-First Century Fox is coming soon, and the companies announced Tuesday (3/12) that the deadline for holders of 21CF common stock to elect the form of consideration they wish to receive in the acquisition will be Thursday (3/14) at 5pm Eastern.

In addition, Disney is also receiving 21st Century Fox's investment in Hulu, giving them the majority stake in the streaming platform.

The acquisition involves most of Fox's properties, including X-Men and the Simpsons, but does not include news, sports, broadcast channels or its studio lot.

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Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly. Those properties will fold into a new company known simply as Fox. The deal is rich in worldwide television assets, including in Latin America and India.

A company statement to The Hollywood Reporter said Iger expects "the acquisition to become effective at 12:02 a.m".

The Federal Telecommunications Institute (IFT) said because the combined audiovisual content of the two in the field of "factual" programming on pay TV would be worth more than 40 percent of the market, steps would need to be taken.

Disney has already said it would bring over several key Fox executives to run important operations, including Walt Disney Television.

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