Disney Acquires 21st Century Fox for Over $70 billion
Disney is out there making amazing movies, business deals and acquiring giant sized businesses.
The Wall Street Journal reports that 21st Century Fox has accepted Disney’s offer to buy them in cash and stock worth $71.3 billion.
Apparently, Disney made this offer last Wednesday to Fox trumping Comcast’s $65 billion all-cash offer (Disney had earlier been outflanked by Comcast when they offered to buy Fox for $52.4 billion). In roundabout turn of event, being beaten by Disney to this deal was a good thing for Comcast as buying Fox would have plunged them into a debt of about $170 billion to make it one of the most indebted companies in the world.
Now that Disney owns Fox, what exactly does it mean? Well, Disney’s acquisition covers 20th Century Fox film and TV studio, Fox’s American cable channels and Sky News. The deal didn’t include some of Fox’s major assets like Fox News, Fox Sport and its TV stations.
