Disney Buys 21st Century Fox Assets For $52.4 Billion, Paving Way For Avengers/X-Men Crossover
Disney has bought 21st Century Fox's entertainment assets for $52.4 billion.
Rumors that Disney was looking to buy out the movie and television company had been ; and after weeks of , the deal was officially confirmed early on Thursday (14 December).
The deal will see Disney buy Fox's film and TV studio, its 39% stake in pay TV giant Sky, the National Geographic and FX cable channels business, regional sports networks, international networks, and Fox's 30% stake in Hulu.
It will also see Disney CEO Robert Iger extend his contract through 2021, as he had originally planned to exit the company in 2019.
But what does it mean for us viewers?
Well, Disney owns the right to Kevin Feige's Marvel house and Fox has held the film and TV rights to Marvel's and franchises.
With Fox now under Disney's corporate umbrella, an Avengers/X-Men crossover is officially possible, and probably pretty likely. (How exciting, right?)
Heck, even Hugh Jackman has said he , although sadly admitted the .
The deal also means Disney will now have majority stakes in Fox TV shows too, including The Simpsons and Modern Family—which we're sure will prove an invaluable asset come 2019 when it releases its , priming Disney to be a major player in the streaming world.
It was previously thought the deal could be worth up to $75 billion. However, the eventual figure disclosed was more than $20 billion less.
Iger said of the deal: "The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible, and convenient than ever before."
It has also been confirmed that Rupert Murdoch and his family—who hold 39% of 21st Century Fox's voting shares—will hold on to the 53-acre Fox studio lot on Pico Boulevard near Los Angeles.
Additionally, The Hollywood Reporter understands Rupert Murdoch's son James Murdoch could get offered a senior Disney executive role that he would take on once the transaction closes—though nothing has been confirmed at this stage.
This story originally appeared on Esquire.co.uk.
* Minor edits have been made by the Esquiremag.ph editors.