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Hulu Won't Just Morph Into Disney's New Streaming Service, Bob Iger Says

14 December, 2017, 18:15 | Author: Kristen Ingram

Walt Disney has announced a deal to buy most of 21st Century Fox in a deal worth around $66B, made up of $52.4B in stock and about $13.7B in net debt.

Fox said that it will press ahead with attempts to buy the 61% of the broadcaster it does not already own before the Disney deal closes.

The sports networks include the YES Network in New York, Prime Ticket and Fox Sports West in Los Angeles, and networks that carry 44 professional teams in Major League Baseball, the National Basketball Association and the NHL.

The acquisition includes 21st Century Fox's film and TV studios, and cable networks. "Fox also controls rights to the one 'Star Wars" film that is not under Disney's aegis - the first movie in the franchise, 'Star Wars: "A New Hope'".

The deal was said to have appealed to 21st Century Fox as they look to streamline their operation and focus on selected television properties including Fox News, Fox Sports and all local news affiliates in addition to their broadcast network.

Whether control over all that content could give Disney the power to harm rivals will be a key question for a Justice Department fresh off a legal challenge to AT&T Inc.'s planned takeover of Time Warner Inc., a case based on concerns about the phone giant's ownership of the media company's programming. The 20th Century Fox studio has the rights to make movies for Marvel characters like "X-Men" the result of deals struck before Disney purchased Marvel in 2009.

As Variety notes, Disney CEO Bob Iger also addressed the potential for unifying disparate brands in a call with investors on Thursday, saying, "Bringing Disney and Fox together will combine some of the world's most iconic entertainment franchises". "Furthermore, I'm convinced that this combination, under Bob Iger's leadership, will be one of the greatest companies in the world". "He will be integral to helping us integrate these companies over the next number of months and during that period of time we will continue to discuss whether there is a role for him here or not".

"James and I have had a lot of conversations about the future of these companies", Iger said. Doctor Doom could show up to fight Iron Man before we know it. Fox is also now the home of the Alien and Predator movies.

The deal allows Disney to expand its content, especially for streaming services.



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