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Disney Buys 21st Century Fox for Big Bucks

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In Los Angeles, on Thursday, Bob Iger, CEO of Disney, announced that the Walt Disney Company will be purchasing most of the assets of the 21st Century Fox for a total cost of $52.4 billion.

As of now, Disney owns ABC and ESPN, which are two major contributors to the severe scaling that the company is undergoing. The Walt Disney Company hopes to build the Marvel universe with the addition of the X-men trilogy, as well as the R-rated Deadpool series, which drew in 783.1 million in the box office last year.

Since Disney will now own many of these film rights, their next goal is to begin the streaming service. They will remove all of their content from streaming services such as Hulu, Netflix, and Amazon Prime Video to create their own. With the purchase of 21st Century Fox they will also have rights to “The Simpsons,” “Homeland,” “This Is Us” and “Modern Family.” Also, 21st Century owns 22 cable networks and as a part of the deal they will also get the rights to FX, Yes Network, and National Geographic.

Iger’s goal is to make Disney an international player, which is not too difficult since it already has connections in Europe, Japan and China. Disney just opened a new amusement park in Shanghai.

As Igers says “The riskiest thing we can do is just maintain the status quo” and Disney is doing just this and scaling to worldwide quantities, pulling moves that no other business; takes risks doing so.

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Disney Buys 21st Century Fox for Big Bucks