Movies

Walt Disney Buys Fox for $52.4bn

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14 December 2017

By Alex Khalil

Disney, current owners of Marvel, Pixar and Lucasfilm, has added another huge business to their payroll. Fox has been bought by the mega-media company for $52.4bn, after reports that the company would be acquired by the end of the week.

The deal includes Fox’s 39% stake in Sky and the 20th Century Fox film studios, including all its independent properties. As of today, Disney now owns the rights to the X-Men and Fantastic Four. It also holds the rights to Die Hard, Alien and many more. Now we hope that they don’t just go on a remake spree.

Alien

Fox’s remaining assets, including Fox News and Sports, will form a new company.

This marks the end of half a century of media expansion by Fox owner Rupert Murdoch, who is 86 years old.

Disney chief exec said that the company was ‘incredibly excited’ about the acquisition and that it was an ‘opportunity to expand iconic franchises’ including Avatar and Star Wars.

“The acquisition of this stellar collection of businesses reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before.

‘We’re excited about this extraordinary opportunity to significantly increase our portfolio of well-loved franchises and branded content to greatly enhance our growing direct-to-consumer offerings. The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”

This is a massive step in Disney’s plan for total film domination. They have consistently stomped everyone else whenever a new movie is released and since they acquired Marvel back in 2008, they have made over $10,916,958,583. Boggles the mind just looking at the number.

Who knew people loved heroes so much right?

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