Huge parts of the Fox entertainment portfolio are set to become part of Disney, including the film and TV studio as well as National Geographic, with Disney also gaining a further 30 per cent stake in U.S. streaming service Hulu, bringing its total share of that company to 60 per cent.
They also get stock in the new Fox, led by Murdoch's older son Lachlan. "What lies ahead is the challenging work of uniting our businesses to create a dynamic, global entertainment company with the content, the platforms, and the reach to deliver industry-defying experiences that will engage consumers around the world for generations to come".
Now that Fox Corp. has sold off most of its entertainment properties, it has become a standalone company that will retain ownership of its broadcast network, owned-and-operated network affiliates, the Fox News Channel, Fox Business Network and Fox Sports.
Prosecutors Reportedly Offered Robert Kraft A Deal To Drop Soliciting Prostitution Charges
In the wake of the bust hitting the news, a spokesperson "categorically denied" any wrongdoing on the part of Kraft. In exchange, they can get their charges dropped, and then later expunged from their record.
"This is an extraordinary and historic moment for us - one that will create significant long-term value for our company and our shareholders".
Fox's movie production complements Disney's efforts. As I reported previous year, Disney and Fox have a plan for how to handle layoffs that they are still considering.
X-Men and other movies from Fox's studios could be added to Disney's upcoming streaming service. Hulu, in which Disney acquires majority control, will be focused on more adult-oriented fare, such as that produced by Fox's FX network and its Oscar-winning Fox Searchlight film studio. To be fair though, with Disney+ being pegged for family-friendly fare, owning Hulu will give Disney a home for their more adult content. Executives from Disney have previously suggested Deadpool could live on as a R-rated franchise at the 20th Century Fox shingle, which Disney appears to be retaining. The streaming service will feature five categories of material: Disney, Pixar, Marvel, Star Wars and National Geographic. About Disney Disney, together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments: Media Networks; Parks, Experiences and Products; Studio Entertainment; and Direct-to-Consumer and global.