With the deal wrapped up, Disney will take over ownership of 20th Century Fox film and TV studio, cable networks FX, Fxx and National Geographic, and certain cable and international television assets. Disney also acquires Fox’s 30 percent stake in Hulu, giving it majority control. The new assets should strengthen Disney’s position as a content behemoth, especially as it launches Disney+ later this year, its own streaming competitor to Netflix.
“This is an extraordinary and historic moment for us–one that will create significant long-term value for our company and our shareholders,” Disney CEO Bob Iger said. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”