Published: Fri, March 15, 2019
Markets | By Noel Gibbs

Disney’s Fox Acquisition Officially Closes On March 20, 2019

Disney’s Fox Acquisition Officially Closes On March 20, 2019

Winning Mexico's consent was the final hurdle for Disney to wrap up its 9-month quest to secure all of the government approvals that it needed.

Disney had originally made the deal for $52.4 billion but after Comcast put in a bid, Disney had no choice but to raise its offer.

The Walt Disney Company has set a March 20 date to finalise its US$71.3 billion acquisition of 21 Century Fox's entertainment assets.

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The new Fox, which includes Fox News and the Fox broadcast network will operate as a separate company after the mega-deal closes.

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. "Eastern Time on March 20, 2019", Disney said in a regulatory filing. 21st Century Fox shareholders can have till Thursday to decide on the amount of money and Disney inventory to obtain, valued at $38 a share within the deal.

It's been a very busy year for Walt Disney Studios' Alan Horn. As in Brazil and other countries, the IFT unanimously agreed to give its green light to Disney's purchase as long as it agreed to sell Fox's 22 regional sports networks.

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On the downside, the merging of the two leading entertainment firms in Hollywood will lead to massive layoffs. Peter Rice, one of Murdoch's longtime lieutenants, will become chairman of the Burbank-based television group, reporting to Iger.

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.

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