IT'S OFFICIAL: Disney will buy some 21st Century Fox assets for $52.4 billion
- Disney will buy Fox's studio and television production assets for $52.4 billion.
- The deal announcement follows months of interest from multiple parties, including Disney, Comcast and Verizon.
Disney has agreed to acquire Fox's studio and television production assets for $52.4 billion, according to a press release.
The package that Disney is buying reportedly includes Fox's A&E and Star TV networks, as well as its regional sports operation, movie studios, and stakes in Sky and Hulu, among other assets. The deal will leave Fox with its news and sports assets.
The deal announcement comes amid considerable interest for Fox from not just Disney, but also the likes of Comcast and Verizon. The Wall Street Journal and CNBC reported in November that Comcast and Verizon had approached Fox about buying at least part of the company, providing the first signs of a bidding war.
Now that deal terms have been agreed upon, the new entity will have to contend with rating declines across many large cable networks as more consumer opt for cheaper and more customizable web-based services.
This story is developing.