(MENAFN- NewsBytes)
Disney acquires 21st Century Fox's assets in $66bn deal
14 Dec 2017
Disney has announced a major deal to acquire several parts of Twenty-First Century Fox for $52.4bn in stock, including their movie studios, the Nat Geo network, Asia's pay-TV operator Star TV, and some stakes in Sky, Hulu and regional sports networks.
Bob Iger will remain chairman through the acquisition, until 2021, in a move that both companies have approved.
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Under this deal, Rupert Murdoch will sell $66bn worth of 21st Century Fox's assets to Disney. The 86-year-old tycoon will gain a 4.25% stake in Disney.
Disney will pay $52.4bn in stock. Including another $13.7bn in debt, the total value of the deal goes to $66bn.
21st Century Fox CEO James Murdoch is expected to leave.
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