Disney announces plan to buy 21st Century Fox

Name: WORLD
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Disney and 21st Century Fox shocked the media world Thursday with the announcement of a sale that will divide the Murdoch family’s media empire. Disney will buy about $52.4 billion in stock and acquire film businesses including Twentieth Century Fox, Fox Searchlight Pictures, and Fox 2000, and on the TV side, Twentieth Century Fox Television, FX Productions, and Fox21. Before the sale, the company will spin off the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2, and the Big Ten Network into a newly listed company over which the Murdoch family will retain control. Analysts believe the Murdochs are trying to position themselves to be more competitive in a media environment now crowded by streaming services. During a call with investors, Disney CEO Bob Iger said many Fox properties fit well with his company’s plans for ESPN- and Disney-branded streaming services. But federal regulators must still approve the deal and could be wary of combining two major movie studios.

Leigh Jones

Leigh is features editor for WORLD. She is a World Journalism Institute graduate who spent six years as a newspaper reporter in Texas before joining WORLD News Group. Leigh also co-wrote Infinite Monster: Courage, Hope, and Resurrection in the Face of One of America's Largest Hurricanes. She resides with her husband and daughter in Houston, Texas.