Variety is reporting that Disney has acquired 21st Century Fox for $52.4 billion dollars. Among the properties that Disney now owns, Fox will then spin-off Fox Broadcasting Co., Fox Sports, Fox News, Fox Television Stations and other assets into a new company. According to Collider, “Fox was going to be for sale no matter what. It was in debt and the Murdochs were no longer interested in managing a media conglomerate of Fox’s size.”
Disney will now take over Fox’s share in Hulu; this means Hulu will be owned primarily by Disney. It will also be separate from Disney’s own streaming service that they will roll-out in the near future. In a world of streamed content, Disney will have a strong foothold to compete with Netflix. This news might not be the greatest for fans of films such as Logan and Deadpool. How will Disney tackle these R-rated films? Are we going to see an Alien themed ride at Disney World?
One question that needs to be discussed and eventually answered: are we looking at the start of the end to competition in the entertainment market? Many at Fox will likely lose their jobs in the process of this acquisition. Disney, however, is a company that could breathe new life into existing properties. But will it be worth jobs being lost?
While it will take several months (est. 18 months) for the acquisition to be approved federally, we can’t help but wonder what this deal will mean for the Marvel Cinematic Universe. As we transition into Phase 4 certain properties could potentially cross over, such as Fantastic Four and the X-Men. Disney now owns the rights to all Star Wars films; they previously didn’t have ownership of A New Hope.
Are you excited or worried? I’m sure we will have more news from Disney on the plan they have for these properties in the coming months. For now, just hang tight and hope that Disney doesn’t decide to discontinue any of your favorite franchises.