Disney to buy $52.4 billion worth of Fox properties

Disney to buy $52.4 billion worth of Fox properties

[Ed. – This doesn’t include Fox News or Fox Broadcasting Network.  It also doesn’t seem to include the major Fox Sports draws, although it does look like the FCS regionals and all the soccer channels will go to Disney (presumably to ESPN).  The studio properties where popular series are produced — going to Disney.  Fox will keep the LA studio real estate, per se.  All in all, according to one estimate I saw, Murdoch’s remaining “Fox” conglomerate will be about one-third the size it is now.]

Walt Disney Co has struck a deal to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox Inc for $52.4 billion in stock, giving the world’s largest entertainment company an arsenal of shows and movies to combat growing digital rivals Netflix Inc and Amazon.com Inc.

The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world’s most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport.

Early indications are that the deal will not face strong resistance from antitrust regulators as AT&T Corp’s bid to acquire Time Warner Inc has done.

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