Disney Is Letting Go Its Acquisition On Fox


Disney's $71.3 billion acquisition of 21st Century Fox is set to close next week. The move came after Mexico's telecommunications regulator, IFT, approved the Disney-Fox deal late Monday, according to Bloomberg News.

Fox shareholders have until Thursday, March 14 to decide on the amount of cash versus Disney stock to receive in the $71.3b transaction. Disney and Comcast were also both vying for European pay-TV giant Sky at the time, which Comcast ultimately won.

"Just in: Disney says its acquisition of most of Fox will take effect on Wednesday, March 20", Brian Stelter tweeted. It added that with no extension, the full acquisition or turnover will be effective at exactly 12:02 a.m. Its ownership of those channels and cable sports network ESPN would otherwise give the company undue influence in sports broadcasting, said the watchdog. They will receive a mix of cash and stock valued at $38 a share in the deal.

The deal will see Disney gain control of 20th Century Fox film and TV studios, Fox Television Group (along with cable channels such as FX), global networks, as well as a 73% stake in National Geographic Partners, Indian television broadcaster Star India, Blue Sky Studios, a 50% stake in Endemol Shine Group, a 30% stake in Tata Sky, and a 30% stake in Hulu - boosting the company's stake in the streaming service to 60%.

Also part of the 21st Century Fox acquisition are its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. And even after it is all said and done, it will still be a while before Fox's properties can fall under the Disney umbrella.