Skip to content
This site uses cookies. By continuing to browse, you agree to the use of cookies. You can change your settings or learn more here.
OK
Fox Studios in Los Angeles
Fox Studios in Los Angeles
Image: Chris Pizzello/PA Images

Disney closes €62 billion deal for 21st Century Fox

The deal paves the way for Disney to launch its streaming service Disney Plus.
Mar 20th 2019, 9:45 AM 34,372 44

DISNEY HAS CLOSED a $71 billion (€62 billion) deal for Rupert Murdoch’s 21st Century Fox.

The major deal paves the way for Disney to launch its streaming service Disney Plus, which is due out later this year.

The deal will likely lead to thousands of lay-offs due to the to duplication in Fox and Disney film-production staff.

By buying the studios behind The Simpsons and X-Men, Disney aims to compete with technology companies such as Amazon and Netflix for viewers’ attention and money. 

The deal helps Disney further control TV shows and movies from start to finish – from creating the programs to distributing them though television channels, movie theaters and streaming services.

Disney would get valuable data on customers and their entertainment-viewing habits, which it can then use to sell advertising.

Disney CEO Bob Iger said in February that Disney Plus and other direct-to-consumer businesses are Disney’s “No. 1 priority.”

Cable and telecom companies have been buying companies that make TV shows and movies to compete in a shifting media landscape. Although internet providers like AT&T and Comcast directly control their customers’ access to the internet in a way that Amazon, YouTube and Netflix don’t these companies still face threats as streaming services gain in popularity.

Pricing for Disney Plus has yet to be disclosed. The streaming service will feature five categories of material: Disney, Pixar, Marvel, Star Wars and National Geographic. 

Send a tip to the author

Associated Press

COMMENTS (44)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a comment

     
    cancel reply
    Back to top