of Deadline Hollywood commented, "given how Disney made the Marvel and Lucasfilm deals under the cone of silence, if this happens we'll probably only know it when it's announced. On November 28, while mentioning a rumor that the rumored negotiations between Disney and Fox were progressing at a rapid pace, Mike Fleming Jr.
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īecause Disney owns the American Broadcasting Company (ABC), Comcast owns the National Broadcasting Company (NBC), and 21st Century Fox owned the Fox Broadcasting Company, a full acquisition of Fox by Disney or Comcast would have been illegal under the Federal Communications Commission (FCC)'s rules prohibiting a merger between any of two of the four major broadcast networks. During a recent shareholders meeting, 21st Century Fox Co-Chairman Lachlan Murdoch said Fox was not in the category of "sub-scale" companies that were "finding it difficult to leverage their positions in new and emerging video platforms", but was instead a company that had "the required scale to continue to both execute on our aggressive growth strategy and deliver significant increased returns to shareholders". On November 16, it was reported that Comcast (parent company of NBCUniversal, Xfinity, and Comcast Spectacor), Verizon Communications, and Sony (parent company of Sony Pictures, Sony Music, and Sony Interactive Entertainment) had also joined Disney in a bidding war for 21st Century Fox. Talks had stalled for the day without a deal being finalized, but it was reported on November 10 that the prospected deal had yet to be fully abandoned. The deal would also include 20th Century Fox's film rights to certain third-party franchises, such as X-Men, Deadpool, and Fantastic Four, the distribution rights to Star Wars: Episode IV – A New Hope (which were not owned by Marvel Studios and Lucasfilm respectively when Disney acquired those companies), as well as consolidate ownership of other franchises both share such as Home Alone and give Disney access to adult animation with ownership of The Simpsons (which Disney would fully embrace under the Disney moniker) and Family Guy (which in the following years after the acquisition would break the fourth wall by making inside jokes on what they were allowed to do now that they were owned by Disney). The two companies had done business in 2001, when Disney acquired the Fox Family Channel from the original incarnation of News Corporation and promptly rebranded it as ABC Family (later Freeform).
Additionally, as 20th Century Fox was the last major studio from the studio era to be acquired when Rupert Murdoch took full control in 1985, its film library was largely intact relative to its peers from that era such as Metro-Goldwyn-Mayer (MGM).
It was less interested in Fox's production capacities and more keen to acquire Fox's own film and television libraries to help expand the streaming service's library. Īccording to Disney CEO Bob Iger, the idea of purchasing Fox's assets came after Disney acquired majority control of the streaming company BAMTech with anticipation to develop its own streaming service, which would eventually launch in November 2019 as Disney+.
The deal would reportedly exclude the Fox Broadcasting Company, 20th Century Fox's studio lot, Fox Television Stations, Fox News Group, and Fox Sports, which would be spun off into a new independent company run by the Murdoch family. On November 6, 2017, CNBC reported The Walt Disney Company was negotiating a deal with Rupert Murdoch to acquire 21st Century Fox's filmed entertainment, cable entertainment, and direct broadcast satellite divisions, including 20th Century Fox, FX Networks, and National Geographic Partners. History Early developments (November 2017–April 2018) Other 21st Century Fox assets such as the Fox Sports Networks and Sky were divested and sold off to third parties such as Comcast, Sinclair Broadcast Group and Yankee Global Enterprises. One day before the acquisition, 21st Century Fox spun off the Fox Broadcasting Company, Fox Television Stations, Fox News Channel, Fox Business, Fox Sports 1 and 2, Fox Deportes, and the Big Ten Network into the newly formed Fox Corporation. cable channels such as FX, Fox Networks Group, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, and a 30% stake in Hulu. Among other key assets, the acquisition included the 20th Century Fox film and television studios, U.S. The acquisition of 21st Century Fox by The Walt Disney Company was announced on December 14, 2017, and was completed on March 20, 2019. Business acquisition held from 2017 to 2019Īcquisition of 21st Century Fox by Disney
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