Disney Expects 21st Century Fox Acquisition to Close Next Week

Disney Acquisition of 21st Century Fox to Close on March 20

Initially, Disney was supposed to but the entertainment network for $52.4 billion but Comcast made a counter-offer so the bid price rose to $71.3 billion. Its ownership of those channels and cable sports network ESPN would otherwise give the company undue influence in sports broadcasting, said the watchdog.

Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly.

Disney said Tuesday that 21st Century Fox shareholders will have until Thursday to choose the amount of cash and Disney stock to receive in the transaction; Fox shareholders will receive a mix of cash and stock valued at $38 a share in the deal. The deal is rich in global television assets, including in Latin America and India. It added that with no extension, the full acquisition or turnover will be effective at exactly 12:02 a.m. Eastern Time on March 20, 2019.

It's been a very busy year for Walt Disney Studios' Alan Horn. The compromise requires that Disney sell the Fox Sports channels in Brazil and Mexico.

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On the downside, the merging of the two leading entertainment firms in Hollywood will lead to massive layoffs. Visit MarketWatch.com for more information on this news. Peter Rice, one of Murdoch's longtime lieutenants, will become chairman of the Burbank-based television group, reporting to Iger.

As a result of the deal, Disney will now add Fox's many film and TV properties, including Avatar, The Simpsons, FX Networks, and National Geographic to its own portfolio.

On the film side, Fox's Emma Watts will run the 20th Century Fox studio and Fox Searchlight, the specialty division, will continue to be helmed by Stephen Gilula and Nancy Utley. The Fox executives will report to Disney Studios Chairman Alan Horn.

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